Retention Interviews - Everything You Need to Know
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Employees are the talent that your company thrives on and high turnover can mean that valuable talent is unnecessarily walking out the door. The cost of turnover is astronomical but there is an effective strategy that can mitigate the impact of losing your key assets. “Stay/Retention Interviews” offer a solution to help retain employees by understanding those specific factors that drive them to stay or leave plus they provide an action plan designed to retain those employees. Please join us to learn how to implement Retention Interviews in your organization.
High-performing and key employees drive the success of the company and as leaders we must implement solutions not only to retain their employment but also to maximize their engagement and contribution. They are your assets and allies for effective business. Before they submit a resignation letter, it is best to know the reasons why a talented employee would consider leaving the company.
The best-practice solution is – Retention Interviews.
Key Features of the Conference
Employee turnover across the country and world-wide has been increasing and is expected to continue to rise, leading to increased recruitment costs and reduced company effectiveness. Over 80% of companies report difficulty in recruiting key talent making retention a key initiative. Moreover, Retention interviews have the benefit of increasing employee motivation, engagement, development, and empowerment.
Retention interviews provide the opportunity to conduct structured dialogue with employees that results in an action plan and their commitment of continued employment. These strategic interviews assess an employee’s concerns as well as determine those factors that will positively impact their retention. Other retention strategies take a one-size-fits –all approach where retention interviews tailor the strategy to the individual. Stay interviews engage the employee in the process with results that create buy-in and commitment.
As an employer, recruiter or employee development professional, you should continually improve methods of retaining existing employees and evaluate the adverse effects that may arise if a high-impact employee tends to leave the company.
Exit interviews are commonly used but they represent a reactive approach that is too little and too late. Why wait until the employee resigns to determine their concerns?
In this webinar by expert speaker Wes Pruett, you will learn the specific steps to conducting a retention interview and receive a toolkit to conduct effective retention interviews. You will also learn how CEOs across the country have identified employee retention as a critical business imperative and retention interviews offer a targeted and specific solution to turnover
Also, you will learn how retention interviews offer a targeted process for focusing retention efforts on high impact employees and how retention interviews done at the right time can identify areas of retention risk and a proactive solution for managing risk.
The Session will cover Key Topics such as
• Learn a system for tracking retention in relation to risk of leaving and employee performance.
• Understand the real cost of turnover.
• Understand the factors of why employees stay and why they leave.
• Understand the cycle of a retention plan and the important metrics to measure.
• Understand the link between employee satisfaction, motivation, and engagement and how it relates to stay interviews.
• Learn why retention interviews are vastly superior to exit interviews.
• Learn how to hold managers accountable for retention.
• Learn the 5 essential communication steps in the interview process.
• Understand the process of using the retention interview toolkit.
• Learn how to set the stage for an effective stay interview.
• Learn how to actually conduct the retention interview.
• Learn the specific process for conducting stay interviews.
• Receive questions linked to the 10 essential retention factors.
Participants will receive a toolkit for conducting retention interviews. The toolkit will contain:
• Supervisor’s pre-interview form to set the stage for the interview.
• Staff retention interview questionnaire
• Retention Interview Form with specific questions in 10 key areas including an individualized retention plan for each employee.
Who Can Benefit from This Conference
• HR Manager, HR Directors & HR Professionals
• Employee Development Professionals
• Team Leaders