04 May Use This Stay Interview Template to Drive Retention in Your Organization
If you’ve experienced high retention rates in your company, you may wonder why employees are leaving, and what can be done to stop them. Even if your retention rates aren’t particularly high right now, here’s a startling fact: more than 66% of today’s young professionals are predicted to leave their current job by 2020 (source: Deloitte). The costs of turnover can be significant, and it’s important to understand what your employees value in your company (why they stay) and what would make them leave.
How can you uncover this information? It’s pretty straightforward – just ask! A recent SouthCoastToday article suggests holding “real conversations around what’s working and what’s not working for employees on a regular basis.” You can do this in an informal setting between managers and employees – this is called the stay interview.
To get the most out of this effective employee retention tool, we’ve compiled a stay interview template, which you can tailor to be used in your own organization:
- What do you look forward to most at work?
- What’s your favorite (or least favorite) aspect of working here?
- In what ways would you like to be recognized for your hard work?
- Which of your talents are not currently being used at work?
- Which new things would you like to be able to learn here?
- What could make your role more satisfying?
- What’s one thing you would change about your job?
- As your manager, what can I do to support you?
- Is there anything I should be doing less of to better support you?
- Can you identify anything that would tempt you to leave the company?
- What kind of flexibility do you need to balance your work and home lives?
- What kind of performance-related feedback would you like that you aren’t currently receiving?
In addition, you should avoid yes-or-no stay interview questions, or those that won’t lead to valuable insights. Don’t forget to begin with a brief introduction describing the purpose of the meeting, as well as a conclusion and a discussion about the stay plan, which will encourage both the employee and the manager to take action on any necessary items.
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. To learn more about our Stay Interview Software, STAYview, click the button below!