Use Stay Interviews to Keep Employee Retention Rates High

September 11th, 2012 by

Are you dealing with high turnover in one of your departments? Or with the economy slowly recovering, are you worried that your top talent might move on? What information did you find out in the last exit interview you gave? I bet you learned something that you could have prevented if you took the opportunity to ask the employee before he left.

Instead of waiting until your key staff members exit, find out what would make them stay loyal to your organization. Increase employee engagement, job satisfaction and retention rates by implementing regular stay interviews. Done correctly, stay interviews reveal the factors that could lead your top talent toward your competitors. They’ll also help you prevent an unhappy employee from becoming disgruntled or worse—an ex-employee.

 Questions to Consider Asking Employees During Stay Interviews:

  • Are we helping you develop your skills? If yes, how?
  • What would make you consider leaving your current position?
  • Would you like to change anything about your team or department? Why?
  • What could we change to make your job more exciting, challenging or rewarding?

Remember Three Things When Conducting Stay Interviews

1.       Be Consistent

Holding monthly or quarterly stay interviews with your employees will help you track how they are feeling within their positions. Use this opportunity to learn more about them, including aspects of their job that they enjoy and places where they’d like to see improvement from management. Make sure you check in with them about their long-term company goals as well.

2.       Be Open

Just like an exit interview, a stay interview may not yield positive statements about your company. Unlike exit interviews, however, you have the opportunity to change negative company sentiments into positive ones. So be open, and allow your employees to tell you how they are or aren’t enjoying their work life.

3.       Follow up

Following up on items discussed during stay interviews is important. Although you can’t solve all the ills of your employees, talking through problems and making a good effort to solve some of them will help your staffers perceive your company in a more favorable light. Give them timely feedback and always uphold your commitments to them when possible.

For more information on conducting stay interviews at your workplace, please call a member of CAI’s Advice and Counsel Team at 919-878-9222 or 336-668-7746.

Photo Source: Victor1558

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