Turnover is expensive. The time and money spent sourcing, screening, interviewing, hiring and training a new staff member quickly add up. One way to reduce these costs is by offboarding. Determining the reasons employees leave and making changes to remedy the issues shows you value their contributions and want them to stay. As a result, offboarding each employee can help increase retention. Here are five reasons why.
Find Out Why Employees Leave
Listen to the departing employee to determine their reasons for leaving. Although they may move on due to a better opportunity, significant other’s relocation or to start a family, in most cases employees leave their job, team or manager. If that is the case, see if you can work to remedy the situation and encourage the employee to remain. When other staff sees that changes are made, they realize that their needs and happiness matter and that you’re willing to accommodate them if they’ll stay.
Discuss Final Details
Share with the departing employee information regarding their final days of employment. For instance, let them know when their last paycheck will arrive, what their benefits coverage is and whether they’ll receive a commission, bonus or severance pay. Ensure other staff hear about a positive offboarding process so they feel valued and cared about.
Aim for Referrals
An employee leaving on good terms may provide referrals for future employees. If leaving on good terms, they might even be willing to train their replacement and act as a brand ambassador. Remaining employees see that you value and respect them. They might provide referrals when they decide it’s time to move on as well, further increasing your network of talent.
Consider Rehiring Down the Road
You may want to rehire an employee at a later time. They already have a deep familiarity with company culture and processes, saving you time and money by not having to train a completely new hire. The rehire also brings along experience, expertise and contacts gained from other positions that will benefit your organization. Let the employee know how much you appreciate their constitutions and loyalty to your organization. Point out specific achievements and ways they helped move the business forward. Thank them for their efforts.
Ask to Keep in Touch
Request that you be able to keep in touch with the departing employee. Send occasional emails asking how they are. If you meet them at industry events or on social media, reach out to see what they’ve been up to. If you happen to be in a departing employee’s area, ask them to lunch. Such touchpoints show you remain invested in their success and wellbeing.
Increase Employee Retention
Increase employee retention with help from Barracuda Staffing. We screen, interview and negotiate offers with each candidate, then continue to follow up throughout the first year and beyond to ensure a smooth process. Connect with us today!