Relationships aside, the logistics of making sure that the ex-employee isn’t a security risk, their old tasks are accounted for and covered, and that there will be someone to take their place (with the appropriate training) is a tall order to meet.
That’s why this post will show you everything you need to know about offboarding an employee, including:
Why offboarding is important
How to effectively (and safely) offboard an employee
How to make opportunities out of them leaving
I’ll even throw in some free templates you can follow to make sure that your offboarding goes right every time.
When an employee has decided to part ways with your company, they are simultaneously opening a window of opportunity for you, as the employer, to gain valuable insight into why they have decided to move on, what went wrong (if anything), and what can be done in the workplace to improve retention and company culture.
Considering the disappointing nature of employee termination, many employers fail to recognize this opportunity, and wave goodbye to their former employees without learning anything.
“Let’s just get it done with and move on” is a way of summarizing this attitude.
Furthermore, they fail to close the relationship on a positive note by showing the individual that they care about listening to their thoughts, and taking action to improve employee morale in the future.
This is a grave mistake, because not only are you missing valuable, actionable insights which will help you attract and retain top talent, but you are also leaving a trail of disappointed, perhaps bitter former employees that can damage your reputation amongst job seekers.
Not to mention, employee turnover is expensive, and failing to take preventative measures is nothing short of shooting yourself in the foot, financially as well as in terms of your brand reputation.
“Experts estimate that the cost of a lost employee is anywhere from tens of thousands of dollars to 1.5-2.0 times an employee’s annual salary. The bottom line for organizations: Turnover, if not systematically studied and understood, can impede achievement of organizational outcomes.” – Jack Altman, How Much Does Employee Turnover Really Cost?
And so, conducting a structured exit interview with a departing employee is an incredibly important, often overlooked part of the offboarding process.