Numerous studies explore the topic of turnover—the costs, rates, reasons, and prevention strategies. Here’s a small sample: Mercer’s 2018 turnover surveys found that the average turnover rate in U.S. companies last year was 22 percent; for Canadian companies, it was slightly lower, at 20 percent. That’s about one in five employees. In 2018, the Work Institute’s Retention Report predicted that about 42 million U.S. employees would leave their jobs that year. The report estimates that to equate to about one in four employees.
If you’re a manager, HR or talent development professional, or executive, those numbers should give you pause. The statistics may make you consider examining the latest employee engagement data, taking another look at your benefits package, or developing a new employee recognition program. Although such steps may lead to some solid employee retention strategies, it’s a fact of work life that companies can’t avoid turnover altogether. And as much as there are discussions, articles, and research about the importance and impact of good onboarding, companies shouldn’t neglect the significance of offboarding programs.
That’s where HR thought leader John Sullivan comes into the picture. His cover story delves into the business impacts of offboarding and what companies can do to improve their procedures following an employee resignation. He discusses much more than simply conducting exit interviews. Rather, Sullivan presents 10 strategic goals companies should strive for in developing high-impact offboarding programs. “With the growth of negative former employee comments on social media and skyrocketing turnover rates, it now clearly makes business sense to prioritize offboarding,” he writes.
Vanessa St. Gerard