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Meaningful exit interviews help one bank cut turnover and save
Author(s) -
Gioia Joyce L.,
Catalano Rosalie M.
Publication year - 2010
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.20367
Subject(s) - business , turnover , certification , profit (economics) , marketing , operations management , finance , public relations , management , economics , political science , microeconomics
Abstract When turnover at a regional bank jumped from 10 to 25 percent, its managers knew they needed help in identifying the cause of the exodus. As this case study shows, a specially designed exit interview program has helped the bank dramatically reduce its turnover rate and implement strategies to recruit and retain the right people, driving more profit to the bottom line. Conducted by certified HR professionals outside the organization to ensure candor, the exit interviews are supplemented with techniques for collecting critical information from employees who choose to stay and those who turn down offers of employment as well. But merely gathering information was not enough. For the bank to realize the full benefits of its initiative, it had to be willing to act on what the interviewers heard. © 2011 Wiley Periodicals, Inc.