Outsourced Exit Interviews, Stay Surveys, Leadership Assessments and so much more.
Exit interviews are crucial for the growth and development of any company. They offer a unique opportunity to understand why employees are leaving and provide actionable insights to improve retention. Many companies find that outsourcing exit interviews ensures more accurate and dependable information, allowing them to make informed decisions about where their organization is succeeding and where improvements are needed. Here are seven compelling reasons to consider outsourcing your exit interview process:
For the past three decades, HSD Metrics has been at the forefront of revolutionizing organizations’ HR practices. As pioneers in the industry, we pride ourselves on offering the best value and empowering companies to unleash the full potential of their workforce. But what truly sets us apart? It’s not just our years of experience or our unbeatable pricing – it’s our commitment to excellence, innovation, and growth, paired with our ability to offer best-in-class HR surveying solutions tailored to your organization’s unique needs. Our suite of solutions measure every stage of the employee lifecycle:
According to SHRM, it takes an average of 44 days, and often longer, to hire a new employee. In addition to the number of days it takes to recruit talent, there are hiring costs that could hit nearly $20,000, such as using in-house or outsourced recruiters, advertisement costs, HR and management time allocated for coordination, interviews, onboarding & training, etc. But oftentimes, there isn’t a simple way to determine WHO is leaving, WHY they are leaving and especially for new hires, WHEN are they leaving. We are working closely with clients to connect the dots so they can develop action plans that address issues and result in reduced turnover.
Add New Hire Surveys
At least 50% of HSD clients launch a New Hire survey within about six months after launching their ExitRight survey to add insights into WHEN employees are leaving along with who and why. Supporting new hires in the early stages of the employee journey helps prevent unnecessary turnover.
Here are some of the factors we measure:
The pandemic has changed the employee engagement landscape, with a rise in Gen Z workers, healthcare workers leaving due to burnout, hybrid work becoming more prevalent, employee participation declining, along with so many more. Organizations must adapt to these changes and employers must offer competitive compensation, work-life balance initiatives, and training opportunities to attract and retain talent in this new post-pandemic era. Here are the 5 areas of the workforce that we have found through research that have changed post-pandemic: 1. Compensation remains a constant issue. It became less a point of emphasis during the pandemic, but post-pandemic, it became a bigger area of focus for the workforce than ever. The evidence points to an evolving Millennial population that has begun to put retirement into view as they are turning 40. The Gen Z population entered the workforce en masse during the Great Recession. Combined with a dearth of labor already in play, salaries shot up. Given the rapid and multiple communication available to this population, they held out for larger salaries, creating salary pressure across all of the workforce (e.g., they make as much as I do and I have been here x years). In 2023, compensation pressures have eased somewhat as the efforts to slow the economy are showing, but the labor market is still tight. The demand for higher salaries has subsided somewhat, but some new workers have decided to sit it out and wait for the salaries to peak again, making openings difficult to fill. 2. Not surprisingly, healthcare workers valued work life balance in and coming out of the pandemic. Many left healthcare as a result of burnout, but only about 60%-80% or so returned to healthcare (depending on region), specifically hospitals. The “traveling nurse” model also created issues within healthcare, which caused nursing salaries to increase substantially. This seems to have eased as salaries have caught up and work life balance becomes a higher priority. 3. Another pattern seems to be the desire for more training, but the drivers are complex. Many workers recognized more than ever that “corporate” employees were able to enjoy the fruits of a hybrid work role while “line” workers were required to come into work during COVID. Safety was an issue, which has now subsided but the desire to gain training and work towards a role that allows workers to be at home continues to be a driver of a desire for training. Training is perceived as a key element to a promotion as well. The Great Resignation showed many workers that the grass is not always greener and that changing jobs is stressful. Thus, it may just be better to improve your current work situation. Employers who doubled down on engagement efforts during the pandemic and now are reaping the fruits of that work 4. There was a tug of war the last few years with regard to work at home vs come into the office policies. Both employers and workers have seemed to settle on a hybrid relationship. The new normal will likely be a hybrid arrangement for those roles that allow a team to be productive while remote. Employers that press employees to come into the office all of the time may struggle to find and retain talent. 5. With regard to participation rates, there has been a slight decline in participation overall. Employers are seeking more and more data from employees, but they are not always doing it in an efficient manner (e.g., I got a survey about the training class, I got a survey about the vending machine, I got a survey about x). Employers will need to be much more strategic and active about their listening programs. This means auditing all of the touchpoints employees receive and actively engaging in solutions such that the employees can see (timely) action from their feedback. Another option is to provide an employee the opportunity to identify themselves and speak to someone. Most of our exit clients are now engaged in some type of strategic surveying based on knowing when, where and why employees are leaving (e.g., we know nurses leave after 90 days at x location because of perceptions of supervisor favoritism so let’s ask them at 45 days if they perceive favoritism so we can fix it before they leave). Gain Actionable Employee Experience Insights with HSD Metrics Our employee survey solutions allow you to identify engagement opportunities so you can improve engagement, retention, and recruitment.
Our innovative clients are using exit data to enhance their employees’ experience and preventing turnover by linking those insights to their active employee listening strategy.
Case Study Summary: Retain employees with specialized skills by leveraging exit data and stay surveys Issue: Client was losing employees who were difficult to replace but were not communicative with HR. Action Plan:Result: Projected 10-15% decrease in employee loss in the first 90 days
Gain Actionable Employee Experience Insights with HSD Metrics Our employee survey solutions allow you to identify engagement opportunities so you can improve engagement, retention, and recruitment.
Reacting to clients’ needs for accurate, rapid, cost-effective solutions, HSD Metrics continuously innovates its reporting features and technology.
