01 Oct Stay Interview Guide – Improve Engagement & Retention
Most companies and organizations conduct “leave” interviews to find out why their employees are leaving their jobs. Unfortunately, figuring out why your employees are leaving after they have decided to leave is usually too late. The last thing any company wants is for their top talent to leave before understanding what they are actually thinking. In order to mitigate this, companies need to consider adopting “stay” interviews and proactively understand why employees stay.
Benefits of Stay Interviews
Stay interviews have been shown to boost retention and engagement rates. There are many benefits to conducting stay interviews:
- Stimulate the employees
- Focusing on positives
- Helps employee gain focus
- Builds personal relationships
- Does not require too much training
Managers can utilize stay interviews to better understand employee psychology and therefore, better identify employees who are potentially on the verge of leaving. This allows them to focus and improve on important factors that help in driving employee retention before it’s too late.
How to Conduct Successful Stay Interviews?
Stay interviews often fail to achieve their intended results because of 2 reasons.
1) Lack of proper tools – Managers feel that there is no consistent methodology or process with which they can leverage to run stay interviews efficiently.
2) No accountability – Employees feel that the content of stay interviews are often not being put in action. In other words, there is no accountability.
To conduct a successful stay interview, here are a few important things to take into account:
- Use proper documenting tool to track the results of each stay interview
- Craft a stay interview action plan to create accountability
- Create retention goals so that managers can align to the company’s strategic directions
- Real-time interaction. Stay interviews need not only happen once or twice a year. Using a system that allows managers to consistently engage employees on a real time basis can yield incremental benefits on a daily basis.
HRsoft – The Stay Interview Software Leader
HRsoft is a leading provider of stay interview and employee retention software for mid to large sized companies in North America. To learn more about our Stay Interview System, STAYview™ click the button below!