19 Apr The Stay Interview: More Than Just a Meeting
Many employers are beginning to use the stay interview as a powerful way to boost retention. At its core, the stay interview is a one-on-one, informal meeting held between managers and their direct reports to assess the reasons why they stay with the company, and which factors might cause them to consider leaving.
But the stay interview is much more than just a meeting. Here are some of the other components of the stay interview that can benefit an organization and its employees:
- A Company-Wide Commitment To Retention: Because the stay interview is performed by managers, it gets everyone involved in the commitment to boost retention (versus making it HR’s responsibility alone). According to Recruiting Blogs, that’s critically important, because retention should be everyone’s When commitment to retention becomes a component of your company culture, it fosters a positive attitude across all of your teams and departments.
- An Emphasis On Growth: When managers hold a stay interview, they can also use stay interview software to help them cultivate a stay plan. This encourages both the employer and the employee to take actions supporting the employee’s growth and development within the company. And, as Forbes puts it, if it’s a priority for you to retain your talent, “then you have no choice but to pursue a growth strategy in your business.”
- Stronger Communication: Strengthening communication is critical for showing employees the ways in which their voices are heard, and it’s equally important to show them that their concerns are being acted upon. According to The Thriving Small Business, this thwarts rumors and helps managers focus on any areas of the organization that need to be improved. When supervisors sit down and address concerns with employees in an informal, one-on-one setting, they’re strengthening communication and showing employees that they are valued.
- A Proactive Approach: If there’s something that’s making it difficult for your employees to do their jobs, this should be revealed during the stay interview. As long as your managers are asking the right questions, they should be able to uncover any critical concerns that their employees may have. That way, the concerns can be acted upon before it’s too late and you lose your best talent.
Overall, Stay Interviews are a simple, yet effective way to evaluate how your company can better engage and retain each of its employees.
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!