Why Your Organization Could Benefit from Stay Interviews

Most of us have heard of an exit interview, where an employer sits down with their soon-to-be-ex-employee and tries to gain clarity on why they are leaving. There is a lot you can glean from exit interviews; however, it is typically too late in the process to make changes to retain that employee.

What if there was a way to get feedback from employees before they left? Enter, stay interviews!

What is a Stay Interview?

A stay interview is an interview and open discussion with an employee to gather feedback on their current situation and see if any changes could be made to ensure they remain happy and with the organization.

Benefits of a Stay Interview

There are many benefits to conducting stay interviews including building trust, getting ahead of potential issues, preventing disgruntled employees from leaving with a negative impression, and helping retain talent.

Additionally, they can help confirm what is working, solicit positive feedback, and inspire new ideas to keep employees fulfilled. Much enlightenment can happen through honest and open dialogue with your team.

Questions to Ask During a Stay Interview

So, what exactly do these conversations entail? This can vary depending on the organization and situation, but according to the Academy to Innovate HR, some key questions to ask during stay interviews could include:

• What do you look forward to most when you come to work every day?
• What do you dread about work every day?
• What would tempt you to leave the company?
• Do you feel like you're getting clear goals and objectives?
• As your manager, what can I do more or less of?
• How would you like to get recognized for the work you do?
• Do you have enough tools and resources to do your job properly? If not, what is missing?

Why You Should Consider a Stay Interview Approach

Having these conversations in a timely manner can prevent issues from arising down the road and hopefully help your organization's retention rate. Retention is vital for many reasons, not the least of which is saving on the massive company costs associated with interviewing, onboarding, and training.

Too often, we ask employees what we did wrong rather than ask about what positive changes we can implement so that they can continue to feel appreciated and motivated.

While there are no guarantees in the workplace, stay interviews may be a helpful way to maintain employee satisfaction and keep the best talent on your team.

Give it a try, and let us know how it goes! Or, if you're looking for more guidance before implementing stay interviews, please feel free to contact me directly at mrepucci@marketstreettalent.com to discuss.