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The best way to find out what your employees want and how to retain them is to ask them.
The stay interview is a one-on-one interview between a manager and a valued employee. Its aim, quite simply, is to learn what makes employees want to keep working for you. Likewise, it's designed to elicit what might motivate them to leave. In an effective 30-Minute stay interview, managers ask standard, structured questions in a casual and conversational manner. It’s not a performance discussion but rather a “let me get to know you and your goals” discussion.
A recent Harvard Business Review article ‘How to Keep Your Top Talent’ warns that 25% of your top talent plans to jump ship in the next year. The results for engagement and effort are even more alarming, since about a third of employees surveyed admit to phoning it in at work. That’s bad news if you believe that staying competitive relies on the passion, drive and creative energy of talented people.
Many companies use exit interviews to find out why employees are leaving their jobs. Unfortunately, asking an employee on their last day “why are you leaving?” doesn’t provide useful information in time to prevent the turnover. A superior approach is a “stay interview.” because it occurs before there is any hint that an employee is about to exit the firm.
A stay interview helps managers understand why employees stay so that those important factors can be reinforced. They also signal frustrations that can be nipped in the bud before they drive the employee to start looking elsewhere.
The Benefits of Stay Interviews:
Adding stay interviews to your engagement and strategies can help your organization retain critical employees. It’s the single best tool you can give managers.
The areas that will be covered are:
Learn how the stay interview works as an opportunity to build trust with employees and a chance to assess the degree of employee satisfaction and engagement that exists in a department or company. Also understand how it provides the manager with the opportunity to quickly reinforce the positives and deal with the employee’s concerns before they turn into real dissatisfaction.
Marcia Zidle is a board certified executive coach, business management consultant and keynote speaker, who helps organizations to leverage their leadership and human capital assets.
She has 25 years of management, business consulting and international experience in a variety of industries including health care, financial services, oil and gas, manufacturing, insurance, pharmaceuticals, hospitality, government and nonprofits.
She brings an expertise in strategy and alignment; social and emotional intelligence; executive and team leadership; employee engagement and innovation; personal and organization change management.
She has been selected as one of LinkedIn Profinder’s top coaches for 2016.View all trainings by this speaker