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Are you leaving because of a particular manager? Is there something you don't like about the organisational culture? Were you unhappy with the lack of career advancement opportunities?
Include positive elements of your experience at the organization what you liked and appreciated most about the job, your team, and the organization. Just as individuals need to hear positive feedback to know what they should continue doing, so do organizations.
Why are you leaving? What were the best and worst parts of your job? How happy were you with things like salary, benefits, perks, time off, the office environment, etc? How do you feel about your managers or supervisors? How do you feel about the support/training/feedback you received?
This place is 'going downhill/a sinking ship/lost without me So-and-so was mean to me/did something bad/hates it here, too SHOW ME THE MONEY! @%! Never, ever again. You could have made me stay, you know. Nobody likes working here.
If you're asked to participate in an exit interview, you'll likely be asked some version of the following questions: Why are you leaving? What were the best and worst parts of your job? How happy were you with things like salary, benefits, perks, time off, the office environment, etc?
The honesty you display in your exit interview is not all about altruism. Boomerangs employees that leave a company only to end up coming back do happen. Nobody expects to boomerang. But if it does happen, it's better to land at a company that has been improved by your exit interview advice.
Exit interviews conducted in person are more effective because they allow for a direct, two-way conversation. In other words, the interviewer will be able to read an employee's body language and ask follow up questions in order to get the most out of these interviews.