Does exit interview has any value?

If you are HR professional, do you think "Exit Interview" has value? For me is "Yes" and "No".

YES - because it highlight to us where the short flow is, and we need to address it to prevent it from happening again. What will be the common drive force for people leaving the organization? normally, there are more than 1 reason why people leave. One of them bound to be MONEY and another one will be better career opportunities. It interpret that your company is only pay to the market, secondly there are too many blocker around; or you are the blocker.

NO - because how many us leave the organization will tell you the truth reason behind during exit interview? For a leaver, they will think....

- What is for me?
- What is the risk to me?

Let look at the other side of the coin. So, if people telling you the truth, and you are not able to address the issue, others will think, what is the point of telling you the truth again!

THE "TRUTH" WILL ALWAYS NOT NICE TO HEAR

But instead, they will tell you all the company nice thing and good stuff that he/she can recall, and the rest that he / she cannot recall, you know very well what I mean. People always want to kept a good impression during the exit interview, and hope 1 day when opportunities arise, he/she can come back to work.

What do you think?