What is the importance and impact of exit interview in a company or organization?

The importance of Exit Interview is manifolds for an organization. Some of them are as mentioned below:

      1.       The Management knows exactly why a person leaves the company.

      2.       During Interview, the exact picture of the organization be its positive or negative gets exposed.

      3.       Exit Interviews finds out the truth about organizations limitation, if any, which otherwise may never be revealed/unearth.

      4.       Whether the departing employee is joining any competitor may also be known.

      5.       The final effort to retain the employee may also be given, if felt so during the interview.

       6.       Since organizational development is a continuous process, based on the findings of Exit Interview, the bottlenecks, therefore the areas of development is determined.

       7.       By taking correcting measures, further such incidents may be barred in the Company.

       8.       Organizations will have their strengths as well as weaknesses but it is always wise to know them and amend them rather than sit with those stains.

       9.        Exit interview paves the way to self-amendment and development.

       10. High rate of exit is really concern for the Company; it needs to be addressed separately.

 To identify the reasons for employee leaving the company.

An organization can use the information gained from an exit interview to assess what should be improved, changed, or remain intact. More so, an organization can use the results from exit interviews to reduce employee, student, or member turnover and increase productivity and engagement, thus reducing the high costs associated with turnover.

In relation to that question, does huge organizations give an importance and values to the exit interview? As a whole what is the impact if exit interview is given least importance in any companies or organization?