The best way to find out what your employees want and how to retain them is to ask them. Ask questions to gauge how you're meeting your employee's expectations. Not just "How's it going?", but specific questions to get specific answers. Explore why these people remain with your company. Why did they join the organization? How well are their objectives or dreams being fulfilled? Which aspects of their work do they enjoy the most? Which do they least enjoy? Are they receiving sufficient opportunities for growth and development? What would influence them to look elsewhere?
The stay interview is a one-on-one interview between a manager and a valued employee. Its aim, quite simply, is to learn what makes employees want to keep working for you. Likewise, it is designed to elicit what might motivate them to leave. In an effective 30-minute stay interview, managers ask standard, structured questions casually and conversationally. It's not a performance discussion but rather a "let me get to know you and your goals" discussion.
The stay interview is an opportunity to build trust with employees and a chance to assess the degree of employee satisfaction and engagement that exists in a department or company. Stay interviews are preferable to employee satisfaction surveys because they: provide a two-way conversation and a chance to ask questions, get a more in-depth understanding of that employee's current motivation, and offer managers the opportunity to quickly reinforce the positives and deal with the employee's concerns.
A recent Harvard Business Review article 'How to Keep Your Top Talent' warns that 25% of your top talent plans to jump ship in the next year. The results for engagement and effort are even more alarming since about a third of employees surveyed admit to phoning it in at work. That's bad news if you believe that staying competitive relies on the passion, drive, and creative energy of talented people. Many firms use exit interviews to find out why employees are leaving their jobs. Unfortunately, asking an employee on their last day "Why are you leaving?" doesn't provide useful information in time to prevent turnover.
A superior approach is a "stay interview" because it occurs before there is any hint that an employee is about to exit the firm. A stay interview helps managers understand why employees stay so that those important factors can be reinforced. They also signal frustrations that can be nipped in the bud before they drive the employee to start looking elsewhere. The benefits of stay interviews:
A recent Harvard Business Review article 'How to Keep Your Top Talent' warns that 25% of your top talent plans to jump ship in the next year. The results for engagement and effort are even more alarming since about a third of employees surveyed admit to phoning it in at work. That's bad news if you believe that staying competitive relies on the passion, drive, and creative energy of talented people. Many firms use exit interviews to find out why employees are leaving their jobs. Unfortunately, asking an employee on their last day "Why are you leaving?" doesn't provide useful information in time to prevent turnover.
A superior approach is a "stay interview" because it occurs before there is any hint that an employee is about to exit the firm. A stay interview helps managers understand why employees stay so that those important factors can be reinforced. They also signal frustrations that can be nipped in the bud before they drive the employee to start looking elsewhere. The benefits of stay interviews:
Marcia Zidle
Marcia Zidle is a board-certified executive coach, business management consultant and keynote speaker, who helps organizations to leverage their leadership and human capital assets. She has 25 years of management, business consulting and international experience in a variety of industries including healthcare, financial services, oil and gas, manufacturing, insurance, pharmaceuticals, hospitality,government, and nonprofits.She brings expertise in strategy and alignment; social and emotional intelligence; executive and team leadership; employee engagement and innovation; personal and organization change management. She has been selected one of LinkedIn Profinder’s top coaches for the past 5 years.
Why EBITDA Doesn't Spell Cash Flow and What Does
How to Give Corrective Feedback: The CARE Model - Eliminati…
SOPs - How to Write Them to Satisfy those Inspectors
With Mandatory Paid Leave Gaining Ground Is It Time To Do A…
Documenting Misconduct that Will Stand Up in Court
Marketing to Medicare or Medicaid Beneficiaries - What You …
Trial Master File (TMF)/eTMF, & FDAs Draft Guidance for Ele…
Tattoos, hijabs, piercings, and pink hair: The challenges …
Project Management for Non-Project Managers - How to commun…
OSHA Requirements for Supervisors, Project Leaders & HR - W…
Humane Layoffs: How to Let People Go with Compassion and De…
Unlock Employee Loyalty: Stay Interviews Will Keep Them Eng…
FFIEC BSA/AML Examination Manual: What Compliance Officers …
Female to Female Hostility @Workplace: All you Need to Know
Sunshine Act Reporting - Clarification for Clinical Research
Conquer Toxic People - Learn To Protect Yourself And Get Yo…
Understanding the Artificial Intelligence Landscape
Establishing Appropriate Quality Metrics and Key Performanc…
Holiday Stress and Loss: The Art of Stress Resilience in E…
Excel - 10 Key Worksheet Functions to Skyrocket Your Produc…
Is Your Culture Working For or Against Your Success? If You…
Ultimate Persuasion Strategies! - Secret Influence Tools & …
Using High-Performance Coaching for Managers to Address Per…
Utilizing HR Metrics to Illustrate & Improve Human Resource…
Red flags that can render your OSHA Safety Program Complete…
Onboarding is NOT Orientation - How to Improve the New Empl…
The Anti-Kickback Statute: Enforcement and Recent Updates
Eliminate Harmful And Unproductive Drama In The Workplace
3-Hour Virtual Seminar on Chat GPT for Project Management i…
FDA Technology Modernization Action Plan (TMAP) and Impact …
How to Prepare For and Host a FDA Inspection and Respond to…
Excel - Pivot Tables - The Key To Modern Data Analysis and …
Managing Toxic & Other Employees Who Have Attitude Issues
Building GMP Excellence: A Guide to Implementing Compliant …
Improving Employee Engagement & Retention Through Stay Inte…
Human Error Reduction Techniques for Floor Supervisors
Excel Power Skills: Master Functions, Formulas, and Macros …