The article shows how exit interview is gaining importance in different companies as a powerful tool to reduce employee turnover. It throws light on the fact that exit interview should not be a paper activity rather it should be more structured and realistic. Companies should increase the level of participation among the employees in the exit interview so as to rectify their company-related defects.

In today's turbulent times, organizations are very conscious about their reputation in the market and also like to get competitive advantage over others. More and more organizations are focusing upon HR issues and practices. Organizations value employees as the greatest resource, so they should be handled with care. It is the duty of the organization to address employees' grievances and to satisfy them by providing proper solutions relating to job and also the work environment. For that reason, companies are carrying out different surveys relating to employee satisfaction. One of the important tools in getting employee feedback is exit interview.

Previously, this interview was not so prevalent in most of the companies but nowadays, it is gaining importance in different large companies and MNCs. An exit interview is a very effective process of gathering information from the employees in relation to what they have experienced in the organization. It is an interview which is generally conducted on those employees who are voluntarily leaving the organization rather than being fired by the company. It provides a good basis for employee feedback and to determine the loopholes of the HR policy in the organization. Through these types of interviews, the HR department can also gather information regarding the areas where the employees are satisfied and which are the areas where improvements are required. This interview is generally conducted by the executives of the HR department.

HRM Review Magazine, Exit Interview, Multinational Companies, MNCs, HR Department, Evaluation Process, Organizational Development, Retention Strategies, Compensation Policies, Succession Planning, Recruitment Process.