In-house vs Outsourcing: Exit and Retention Interviews
Exit and Retention interviews are both great ways of capturing reliable data and Management Information. As a result, Exit and Retention Interviews can shape the way you engage with your employees.
Exit interviews will give you the scope to understand why employees leave. Whereas, Retention interviews will give you an idea of what could influence people to stay. You will also receive feedback regarding what’s good about your on boarding and induction processes.
It’s likely that these kind of interviews would have the ability to make a positive impact on your business. But, how do you go about conducting them? And, is it better to outsource them or conduct them in-house?
- Cultural understanding – The interviewee has the opportunity to express themselves to someone who has first-hand experience and knowledge of your business and its culture.
- Quick resolve – Conflicts can be resolved and swift action can be taken to encourage the interviewee to stay.
- Added control – You have influence over who conducts the interview, what its contents will be and how much time is spent conducting them.
- Closure – In the context of an exit interview, an in-house experience can give the leaver closure.
- Fairness – A third-party provider is impartial and the employee can remain anonymous.
- Honest feedback – Due to the nature of an outsourced interview, feedback may be more honest and collect more meaningful data
- Consistency – There will be a uniform process in place which will have a positive impact on the data that is collected.
- Expertise – An outsourced provider will have knowledge and experience of conducting exit and retention interviews. Therefore, they will have a good understanding of what questions will work best for you and your business.
- Data and Management Information – A third-party provider will have expert data analysts to interpret the data collected and present it concisely, focusing on areas that will create the most impact.
- Savings – You save money, resource and time by all interviews being conducted in one place.
Whether done in-house or externally, exit and retention interviews can make a real difference to your business. If done properly, with consistency and impartiality, the data generated can help to shape your business and improve retention rates.