Today’s organizations often prioritize onboarding processes to ensure a positive employee experience. However, an often overlooked aspect is the offboarding process, when employees leave the organization. Failing to establish a clear offboarding process can result in significant financial losses and security breaches.
In 2021, 47.7 million people voluntarily left their jobs, according to the Bureau of Labor Statistics – largest number since 2001. By the end of 2022, an additional 50.5 million workers had quit.
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However, despite the changes in the labor market, according to research conducted by Aberdeen, a lack of offboarding processes is still a major issue for companies and can lead to $300 million in lost revenue from employee theft and $8.3 million in cybersecurity breaches each year. Shockingly, only 29% of organizations have a formal process in place for managing a seamless employee offboarding strategy.
The experiences employees have during their time in an organization, including before, during, and after their departure, can leave a lasting impression. A robust offboarding process ensures that employees feel valued, which, in turn, makes them more likely to act as advocates for their former organizations and refer others to join.
One crucial aspect of offboarding is revoking access to both software and hardware assets. If access to network infrastructure, software applications, or unprotected hardware is not revoked in a timely manner, it poses significant security risks. Unauthorized access may lead to malware infections, data breaches, and other potential threats. To mitigate these risks, organizations must have the ability to provide or revoke access to software and hardware assets efficiently.
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