Many organizations consider onboarding to be a more positive endeavor but their perception about separation management/ off-boarding is not the same. According to the Aberdeen’s Research of 2013, only 29% of the organizations have a formal off-boarding process. Talent management teams across the globe realize that onboarding is a very important part of employee life cycle but consider off-boarding as a more innocuous process and also do not understand that off-boarding could be strategically as important as onboarding.
According to the Peak End rule, a human being judges overall experience by its peak or most intense point experience and by the end experience. Meaning the brain would choose those moments from the past, that were most poignant and the finale when it wants to store a memory. The off-boarding memories are bound to be etched in the memory for a long time to come. Note that, these people would be selling your brand elsewhere in days to come and are hence your first brand ambassadors. They could also be your boomerang employees if you give them a great relieving experience.A good off-boarding process leads to the following,
1. Reduced Turnover
The exit data provided by the departing employees are the richest sources of data on turnover and helps talent management unravel the mysteries behind turnover, probe them and correct them .
2. Boomerang Employees
Most employees cannot resist the grass is greener on the other side syndrome, but if you have a great off-boarding process they would like to return to you when they start to miss you.
If an employee has had pleasant memories during the off-boarding process, they could continue to refer people and businesses thus more candidate referrals and more revenue.
4. Employer Brand
The ones that leave will always have great memories to share about the organization to their new friends in an all-new organization precisely the reason why you want them to leave with an everlasting last impression rather than a bad one.
5. Enhance Talent Management Process
If feedback received from the exit interviews are put to good use lot of bugs in the talent management process can be fixed and will result in smoother HCM functioning.
Off-boarding can have a dramatic impact on organizational growth and performance. Organizations must not only consider compliance issues but also on engagement to strengthen the Off-boarding process. Case in point, Neeyamo’s in-house HR Champions have put a combination of uniquely modeled stay interview and pre-exit counselling which has resulted in 40% withdrawal of resignation.
If you believe we could help you out in building a superior off-boarding process, please write back to email@example.com