How to Conduct Stay Interviews: Retain Your Great Employees
With over 25 years of management, business consulting and international experience in the areas of business transformation, talent management and leadership development, Marcia provides strategic focus, alignment and guidance to business leaders and their teams to ensure they get on the right track, stay on the right track and not get side-tracked in their drive for higher performance and profitability.
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Overview- Stay interview best practices
Many companies use exit interviews to learn the reasons for employee turnover. However, the problem is that it’s too late. The employee has already decided to leave and is more focused on the new job, not the one he/she is leaving. Therefore, you will not get honest, relevant feedback. A better approach is conducting stay interviews which give you real time information about a valued employee’s motivation and desire to stay or leave. They also signal frustrations that can be nipped in the bud before they drive the employee to start looking elsewhere. Stay interviews are preferable to employee satisfaction surveys because they provide a two-way conversation and a chance to ask questions.
The stay interview is a discussion between a manager and an employee to learn about areas of satisfaction (turn-ons) as well as dissatisfaction (turn-offs) along with the issues that might impact the employee’s motivation and engagement at present and in the future. In an effective 30-minute stay interview, managers ask standard, structured questions in a casual and conversational manner. It is not a performance discussion but rather a discussion geared at getting to know the employee and their goals. Adding stay interviews to your engagement and strategies can help your organization retain critical employees. It’s the single best tool you can give your managers.
Many firms 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.
Some of the reasons for which managements gets this feeling include:
The employee’s unhappiness at not being made part of a project that she has expressed her willingness to work in
Expressing lack of satisfaction with an appraisal
Open or tacit disagreement with her reporting manager or other colleagues
Showing signs that turbulence in her personal life is spilling over to work.
Stay interviews are also conducted during generalized situations. These may not be related directly to the specific employee, but could be triggered by events that have a direct bearing on the likeliness or otherwise of the employee’s continuance::
When the company is looking to retain core employees during an acquisition, takeover or merger
In times of general economic downturn or slowdown.
Why should you Attend: Stay interview best practices
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.
Join this informative session by expert speaker Marcia Zidle where she will help you understand the benefits of stay interviews. This session will provide you with a more in-depth understanding of the employee’s current motivation and offer you the opportunity to quickly reinforce the positives and deal with the employee’s concerns. You will understand how they can help motivate and engage your employees. When a manager takes the time to ask an employee about their job and their goals, it sends the message that the organization cares about and values the employee’s contributions. Stay interviews also focus on one single employee’s opinions, thoughts and ideas. They are different from engagement surveys which are focused on groups. Therefore, stay interviews can help you acknowledge the importance of individual employees.
• Five benefits of stay interviews
• The problem with exit interviews
• Tool kit for conducting stay interviews
• Ten stay interview questions you can use and adapt
• How to deal with the five top demotivating situations
• How to build a simple, yet individualized, stay plan for each employee
• Why follow-up and accountability is important for the success of stay interviews
Session Objectives - Stay interview best practices
You will learn to:
• Identify five key factors that impact an employee’s desire to stay or leave
• Recognize four possible “triggers” that cause the employee to consider leaving
• Learn how to ask probing questions and conduct effective, efficient stay interviews
• Survey a list of eight retention actions to increase employee’s loyalty and commitment
• Review a sample of stay interview questions and develop your own customized list to ask
Who Should Attend
• VPs of human resources
• Chief learning officers
• Project managers
• Operation managers and supervisors
• Team leaders
• Human resources professionals, anyone who has talent management responsibility
What You Get
Live Q&A Session with the Speaker
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