How to Make the Most of an Exit Interview

The Bureau of Labor Statistics recently released numbers showing that in November 2010, more workers quit their jobs than were laid off. Furthermore, November was the 4th consecutive month to see an increase in the number of workers voluntarily leaving their positions.

With more and more employees exiting out of their current jobs, you may be experiencing an increase in turnover at your Houston company. While it may present a challenge, it’s also a good time for you to evaluate why employees are leaving and what you can do to prevent turnover of good employees in the future.

That said, not all employee turnover is bad. For instance, if you’re overstaffed or have a poor performer, you may actually be relieved when they give you their two-week notice.

Still, even in these cases, there’s always something to be learned from employee turnover. They way to tap into that information is by conducting an exit interview; otherwise, you could miss out on a valuable opportunity. For instance, done right, exit interviews can help you:

• Identify a problem that is causing employee turnover.
• Evaluate the effectiveness of employment and business policies and practices.
• Learn about what another employer is offering your soon-to-be former employee.
• Provide a positive last impression of your company to the departing employee.
• Improve your employee retention strategies and attract and retain talent in the future.

To help you conduct an effective exit interview, here is some information on what to ask and how to use the data you compile.

Questions to Ask

What you ultimately decide to ask should reflect what your primary purposes or goals are for the interview. For instance, are you simply trying to show the employee you value their input or are you trying to improve retention strategies?

Regardless, here are some common topics to help you get started:

• Reason(s) for leaving
• Compensation
• Work environment/culture
• Management and supervision
• Company employment and business practices
• Training and development opportunities
• Aspects of the employee’s new position, such as pay

Also, make sure you end the interview on a positive note, such as thanking the employee for their contribution to the company and asking for input on how to help you retain existing talent in the future. If the employee leaves feeling valued and respected, they are less likely to talk negatively about the company.

Using the Information

Once you’ve gathered information from an interview, it’s important to feed it back to the employees and managers with whom the employee worked. But don’t just pass along the comments without providing context that will educate those involved and bring about change to problem areas. Also, don’t be surprised if employees or managers are taken aback by the information shared, especially if it’s negative. But it’s your job to frame the information in a manner that offers an opportunity for improvement.

Also be sure to deliver positive comments, as well. It’s easy to think that employees know when they’re doing a good job. But praise can go a long way in creating loyalty, improving productivity, and limiting turnover in the future.

And if you need some help dealing with employee turnover at your company, please contact Murray Resources. As a staffing services firm in Houston, we can help you find and hire skilled professionals to fill gaps in talent, as well as develop creative and effective solutions for retaining your star performers.

Contact us today to learn more about our staffing services.

3 Tips for Succession Planning

In this economy, you might think that you have nothing to worry about when it comes to Baby Boomers retiring. But the fact of the matter is that this segment of the workforce will retire sooner rather than later – and you’ll be in a better position to deal with this reality if you start planning now.

So what can you do to create a successful succession plan at your company? Here are three tips:

Tip #1: Determine where you are most vulnerable.

When employees leave or retire, they take their knowledge with them. So how can you ensure critical knowledge is retained at your company? First you need to determine who is most likely to retire soon and what unique expertise and information they have.

Tip #2: Transfer knowledge.

Once you know who is likely to retire, sit down with each individual to talk about their plans for the future – and to develop plans to make sure that their knowledge doesn’t leave the company when they retire. There are several ways in which knowledge can be transferred, including:

• Technology. Record important meetings or presentations on video or audiotape. Also, take advantage of technology, such as electronic discussion groups, that capture “shop talk.”

• Job shadowing or mentoring. Pass along complex skills or information by matching a senior manager with a less experienced one. Or consider creating a formal knowledge transfer program that consists of a detailed curriculum.

• Document important policies and procedures. Consider investing some resources into documenting all important policies and procedures that a soon-to-be-retired employee is responsible for.

Tip #3: Retain senior employees.

Just because an employee is nearing retirement age, doesn’t mean they have to fully retire. They may be interested in continuing to work part time, or as a consultant for your company.

Those firms that develop an effective strategy now for dealing with Baby Boomer retirement will be in a much better position to compete in the future. If your company is interested in learning more about succession planning, please contact Murray Resources. As a staffing services firm serving Houston, we have the knowledge and expertise to help your company create an effective succession plan.

5 Reasons it Pays to Outsource Payroll

Let’s face it. Payroll management is a headache for many Houston companies. But there is a simpler solution – outsource it. Here are five reasons why you may want to consider outsourcing your payroll function:

Reason #1. Save money.

Do the math. Determine how much you currently spend on payroll management. Be sure to figure in costs like printing and distributing checks and completing tax forms. Then compare those costs to the rates of a firm that offers payrolling services, like Murray Resources. The fact of the matter is that many small to medium size Houston businesses will generally save money by outsourcing their payroll function.

Reason #2. Improve accuracy.

Payroll mistakes are painful because they can cause major issues with Uncle Sam. By outsourcing your payroll function, you won’t have to worry about late filings or incorrect paperwork.

Reason #3. Leverage expertise.

Tax and employment laws are constantly changing, and most Houston employers don’t have time to keep up with them. By outsourcing payroll, though, you can take advantage of the expertise offered by a payrolling firm – without having to make a considerable investment in terms of time and effort.

Reason #4. Enhance productivity.

Managing payroll takes up a lot of time. By outsourcing payroll, you and your employees can focus on performing more important, revenue-generating activities.

Reason #5. Increase Dependability.

When you outsource payroll, you don’t have to worry about the employee who handles this task going on vacation or taking sick leave. By working with a payroll services provider, there will always be someone available to make sure your payroll function is handled accurately and on time.

If you have any questions about outsourcing your payroll function, or would like to know our rates for payrolling, please contact Murray Resources. As a leading staffing services firm in Houston, we have the knowledge and experience to manage your payroll with ease and reliability. Contact us today to learn more.