What Is An Employee Exit Strategy?

Employee Exit Strategy

An employee exit strategy is a well-defined plan outlining the steps a business takes when an employee leaves the company voluntarily or otherwise. An employee exit strategy aims to ensure a smooth transition, maintain business continuity, and gather valuable feedback from the departing employee. 

By implementing an effective exit strategy, companies can minimize the impact of employee turnover and improve their overall employee experience.

How Can HR Make an Effective Exit Strategy for Their Company

Schedule an Exit Interview With the Departing Employee

One of the most important things to add to an employee exit strategy is an exit interview. This type of interview allows your company’s HR team to gather insights about a departing employee’s experience working for the company, the reasons behind their decision to leave, and any concerns or issues in the workplace. This also allows HR professionals to identify areas for improvement within the organization.

Be Transparent

Throughout the exit process, HR must maintain transparency with the departing employee. This includes communicating the steps involved in the exit process and providing information about the employee's final pay, benefits, and any other relevant details. Being transparent helps build trust and ensures that the employee feels valued and respected during their transition.

Create a Proper Succession Plan

To minimize the impact of an employee's departure, HR should work with the relevant department to develop a succession plan. Succession planning is not just a contingency plan; it's ensuring business longevity and stability.

Creating comprehensive role descriptions and identifying potential candidates within the organization can make transitions appear seamless, reducing turbulence during periods of change.

Keep Things Positive During the Exit Interview

While exit interviews are an opportunity to gather honest feedback, HR should strive to keep the conversation positive and constructive. Encourage the departing employee to share their experiences, both positive and negative, but avoid dwelling on any negativity. Instead, focus on understanding their perspective and identifying opportunities for improvement. By maintaining a positive tone, HR can ensure that the employee leaves on a good note and remains an advocate for the company in the future.