Exit Interviews Enable 80% Of Companies To Uncover Root Causes: InCruiter Study

 InCruiter has released its latest study highlighting interesting insights into the rapidly changing HR industry. According to the report, the demand for exit interview services has increased, with 45% of companies using it this year compared to 20% in 2020. This surge is attributed to the great resignation post-pandemic, the growing importance of employee engagement, the increasing cost of employee turnover, and the need for companies to collect data to improve their HR practices. 

Various factors contribute to increasing employee exits, including the lack of growth opportunities, unfair treatment by management, poor work-life balance, low salary, and dissatisfaction with the company culture. Statistics indicate that 80% of companies utilizing exit interview services have benefited from it in various ways. These companies have reported significant improvements in identifying the root causes of turnover, enhancing employee retention, cultivating a positive workplace culture, and developing more effective HR policies. 

A prime example involves a company that, through implementing an exit interview service, discovered that low salaries drove employee turnover. By revising its salary structure to offer competitive compensation, the company experienced a decrease in turnover rates and witnessed a surge in employee morale. 

"We believe that every company should conduct exit interviews," said Anil Agarwal - CEO & Co-Founder - InCruiter. He added, "Exit interviews provide valuable insights into why employees leave their jobs. By conducting exit interviews, companies can get a better understanding of the reasons behind the rising exits and accordingly incorporate changes into the existing company framework to make it work in favor of its employees. This can eventually help improve employee retention and create a more positive work environment for existing employees and prospects.” 

Considering the current trends and market dynamics, projections indicate a year-on-year increase of 15% until 2025, driven by the escalating costs associated with employee turnover, the growing significance of employee engagement, the need for HR data collection, and the heightened focus on diversity and inclusion.

The interviews on InCruiter are conducted by experienced psychologists and behavioral experts trained to handle confidential and unbiased conversations. Following the interviews, clients receive a comprehensive report that includes all feedback obtained and recommendations on improving employee retention. Moreover, their service is known for its affordability and user-friendly interface, ensuring a seamless experience for all users.