580 Pi +2 Implementation of Strategic Human Resource Management challenge for employers in managing retention of top employees is the fact that differ ent employees are motivated by different factors relative to their desire to stay with an, employer. Hence, any retention program needs to be individualized based on the needs fof the key employees who have been targeted for retention. Smaller organizations face special challenges relative to retention of employees. Indi viduals who choose to work in small organizations generally do so for the unique bene- fits and challenges associated with small companies. Small companies offer a fastpaced vwork environment with less bureaucracy, nearconstant change, les structure, constant interface with coworkers, including senior management, opportunities for growth and development, and the chance to shape a new organization's future. Small companies ‘may also provide significant opportunities to share in the organieation’s fusure financial success, sometimes in tandem with a more modest starting salary. However, 2s smaller organizations become more successful, they change. Growth usually mandates more for- rmality and bureaucracy which can greatly alter the work environment employees have come to enjoy. Many smaller organizations simply cannot retain many of their early em- ployees who opt to move on to other smaller startups. Some smaller organizations at- tempt to become more creative as they grow and organize, with smaller units or divisions that retain the characteristics of the inital startup. Others attempt to create a strong and unique vision or mission that keeps employees engaged as the internal envir= ‘onment of the organization becomes more formalized. Small organizations face some ‘unique challenges relative to employee retention and hence need to be ereative in devel- ‘oping the necessary means to engage and retain their top performers One key tool employers can use to gauge the effectiveness oftheir retention efforts is the exit interview. Exit interviews provide employers with the opporuanity to gain candid feedback from departing employees in a manner that might not be possible if conducted Within the context of an ongoing employment relationship. Departing employees are ‘more likely to be forthcoming and honest in their assessment oftheir employer without fear of repercussions, and assuming that departing employees have beer interviewing with other organizations, they are able to provide employers with information as to how the organization compares with other employers who recruit from the same talent pool. Exit interviews ean serve three purposes: 1) provide the organization with feedback to allow it to better compete in the recruiting marketplace; 2) ensure that departing’ em ployees are able to voice their concerns and respond to such to keep the employers repr tation ston; and 3) provide, in some cases, an opportunity to retain the employee by addressing concerns in a satisfactory manner. Effectively conducted exit interviews can bbe a catalyst for maintaining: an ongoing relationship with departing employees who might be recruited back to the organization at some point in the future. The data that ‘can be obtained in the exit interview process ean provide key insights as to how well an employer is doing relative to delivery of its overall HR strategy and branding initiatives. Departing employees can also influence the perceptions of others who might be possible future employees and/or customers of the organization. Employers need to be cognizant of the value of the exit interview from muliple perspectives as well as understand the role of the eit interview from the perspectives of data colleetion and communication. Retirement Employees also leave the organization through retirement. Except for certain occupa: tions dealing with public safety (such as airtine pilots), the Age Discrimination in Employment Act of 1967 prohibits an employer from setting a m: age. Because medical advances are allowing individuals (o live longer and stay healt longer, older workers are maintaining a strong and increased presence in the workforce Ironically, however, many older workers tend to be set in their ways and resistant (0 change, particularly to technological change. Employers have a distinct challenge i Finding ways to keep older workers motivated and productive and ensuring that they do not viokute the legal rights of these employees.