16 Aug Are Stay Interviews Here to Stay?
It’s funny how things that seem so permanent in our everyday lives are seen merely as trends ten years later. Which races my mind to exit interviews and engagement surveys.
Bersin & Associates says U.S. companies are on track to spend $1.53 billion…with a B…on engagement surveys and solutions each year. That makes me wonder (1) how many companies do these things because they’ve measured results and know they contribute to more productivity (2) versus they do them mostly because other companies do them? It’s easy to do what others do rather than take an independent, analytical approach. And besides, what are the alternatives?
One way to view exit surveys and engagement surveys is they are the best our vendor companies have to offer. And as long as we continue to buy them…oftentimes with multi-year subscriptions…why should these vendor companies offer an alternative? Why innovate with something new when sales are increasing each year?
The major, most critical difference between Stay Interviews and these other “solutions” is that Stay Interviews provide individualized fixes for each employee to increase their productivity, engagement, and length of service. This is very different that providing team fixes that come from engagement surveys and usually no fixes that come from exit surveys.
Before writing “The Power of Stay Interviews”, I Googled Stay Interviews and got less than one thousand hits. Today, that number has grown exponentially! I’d say Stay Interviews are here to stay. Would you?