Step 1: Managing Resignation
The first and foremost step in exit process is to manage resignation / termination to be in formal way and documented for clear process in place for future references.
Step 2: Employee exit to be documented
It is very important to document an exit of an employee as an employee may resign in a variety of ways. Sometimes in written form via email or text or in verbal way or over the phone.
Step 3: Employee exit to be Communicate with internal and external stake holders
To minimizes the news slipping out and rumors spreading about how or why the employee is leaving, the employee’s departure should be announced as quickly as possible, as soon as all the necessary paperwork is finalized.
Step 4: Transfer of knowledge
The transfer of knowledge is one of the most important steps in the appropriate exit process. This is your opportunity to help them think through and capture the details of their job.
Step 5: Custody of company assets
Company assets may include IT equipments i.e. laptops, monitors, pen drives, keyboard as well as ID cards, uniforms, company credit cards, and even a company vehicle.
Step 6: Full & Final Settlement
Full and final settlement is most critical process for an exiting employee, If your payroll and HR system is not automated, you may need to review paperwork to ensure you are aware of any leave accrued, benefits due, pension, and outstanding salary due.
Step 7: Discussion on binding agreements
Every organization has its own trade secrets which needs to be protected to maintain their developing position in the market. There may be some kind of binding agreements between an employee and the organization depending on the position and nature of the roles and responsibilities of an employee which needs to be reviewed at the time of their leaving.
Step 8: Conducting an exit interview
The purpose of exit interview is not only to gain insights into the employee and their impressions of the organization, their teams, ways of working and products but also to identify opportunities to improve retention and engagement.
Step 9: Check in with the remaining employees
Employees are the most valuable asset of any organization. After getting the valuable inputs for improving on the exiting company culture and procedures, implementing relevant one, would not only strengthen the retention but also become more engaging by welcoming employees’ valuable suggestions.
Step 10: Maintaining relationships with exiting employee
Maintaining considerable, honest and consistent relationships with exiting employee shall be crucial in future course of action. Former / exiting employees are a talented loss to your business and you may want them in future to join you back because they know your systems and processes.
#ceos #business #hrcommunity #interview #founders #exitstrategy #exitinterviews #hrinnovation #hrconsulting
From India, Delhi
The first and foremost step in exit process is to manage resignation / termination to be in formal way and documented for clear process in place for future references.
Step 2: Employee exit to be documented
It is very important to document an exit of an employee as an employee may resign in a variety of ways. Sometimes in written form via email or text or in verbal way or over the phone.
Step 3: Employee exit to be Communicate with internal and external stake holders
To minimizes the news slipping out and rumors spreading about how or why the employee is leaving, the employee’s departure should be announced as quickly as possible, as soon as all the necessary paperwork is finalized.
Step 4: Transfer of knowledge
The transfer of knowledge is one of the most important steps in the appropriate exit process. This is your opportunity to help them think through and capture the details of their job.
Step 5: Custody of company assets
Company assets may include IT equipments i.e. laptops, monitors, pen drives, keyboard as well as ID cards, uniforms, company credit cards, and even a company vehicle.
Step 6: Full & Final Settlement
Full and final settlement is most critical process for an exiting employee, If your payroll and HR system is not automated, you may need to review paperwork to ensure you are aware of any leave accrued, benefits due, pension, and outstanding salary due.
Step 7: Discussion on binding agreements
Every organization has its own trade secrets which needs to be protected to maintain their developing position in the market. There may be some kind of binding agreements between an employee and the organization depending on the position and nature of the roles and responsibilities of an employee which needs to be reviewed at the time of their leaving.
Step 8: Conducting an exit interview
The purpose of exit interview is not only to gain insights into the employee and their impressions of the organization, their teams, ways of working and products but also to identify opportunities to improve retention and engagement.
Step 9: Check in with the remaining employees
Employees are the most valuable asset of any organization. After getting the valuable inputs for improving on the exiting company culture and procedures, implementing relevant one, would not only strengthen the retention but also become more engaging by welcoming employees’ valuable suggestions.
Step 10: Maintaining relationships with exiting employee
Maintaining considerable, honest and consistent relationships with exiting employee shall be crucial in future course of action. Former / exiting employees are a talented loss to your business and you may want them in future to join you back because they know your systems and processes.
#ceos #business #hrcommunity #interview #founders #exitstrategy #exitinterviews #hrinnovation #hrconsulting
From India, Delhi
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EMPLOYEE EXIT CHECKLIST.doc
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