There is a strong business case for retaining your talent because:
Turnover is rampant
- Most resignations ever in the U.S. in April 2021
- 4% unemployment rate - 2.2% for college grads
- 63% of employees say it is likely they can find a job as good as the one they have
- 51% of employees & 60% of millennials are considering new employment opportunities
- The average tenure for employees in their 20s is less than 18 months
Turnover is expensive
- 16% of salary for jobs under $30,000 - replacing a $ 10-hour employee costs $3,328
- 20% of salary for $30-50,000 jobs - replacing a $40,000 employee costs $8,000
- Up to 213% of salary for management positions; replacing a $100,000 employee can cost $200,000
And your most talented employees:
- Are more likely to be recruited with more opportunities available to them
- Are the most expensive to replace
- May take top performers and/or customers with them
Managers account for 70% of the variance in employee engagement & retention with:
- 65% of employees leaving their boss – not their job
- Because of poor managers, productive employees leave organizations even when satisfied with the pay & perks
- The prism through which employees see their organization is their view of their manager
- Managers are the best resource for improving retention & engagement
The most important thing a manager can do is build trust with his/her direct reports. Employees who trust their managers stay & give their best. And stay interviews build trust because they:
- Re-recruit talent by understanding why employees stay or might leave
- Make employees feel valued while improving engagement, productivity & retention
- Reinforce good relationships between managers & employees, forge new ones & help repair those that are strained
- Identify employees’ needs & how those needs can best be met creating better employee experiences
- Prevent exit interviews.
AREA COVERED
The Objectives of Stay Interviews
What Stay Interviews Are
What Stay Interviews Are Not
Steps in Initiating a Stay Interview Program
Conducting Stay Interviews
- Frequency & length
- Techniques & skills
- Core stay interview questions
- Sample potential issues & related probes of employees
- Closing a stay interview
Following Through on Your Stay Interviews
- Components of a stay interview action plan
- Stay interview cautions
- The three-step process for retaining employees.
WHO WILL BENEFIT?
Anyone with leadership, management, or supervisory responsibility.
The Objectives of Stay Interviews
What Stay Interviews Are
What Stay Interviews Are Not
Steps in Initiating a Stay Interview Program
Conducting Stay Interviews
- Frequency & length
- Techniques & skills
- Core stay interview questions
- Sample potential issues & related probes of employees
- Closing a stay interview
Following Through on Your Stay Interviews
- Components of a stay interview action plan
- Stay interview cautions
- The three-step process for retaining employees.
Anyone with leadership, management, or supervisory responsibility.
Speaker Profile
Pete Tosh is the Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:Implementing Strategic HR InitiativesMaximizing Leadership EffectivenessStrategic PlanningEnhancing Customer LoyaltyThe Focus Group has provided these consulting and training services to manufacturing and service organizations across the U.S., Canada, Europe, and the Middle East. Pete has worked closely with the leadership teams of organizations such as Exxon, Brinks, EMC, State Farm, Marriott, N.C.I. YKK and Freddie Mac Pete holds a B.A. degree in Psychology from Emory and Henry University and Masters degrees in both Business Administration and …
Upcoming Webinars
FDA Compliance And Laboratory Computer System Validation
The Anti-Kickback Statute: Enforcement and Recent Updates
Creating a Successful Job Rotation Program
Transforming Anger And Conflict Into Collaborative Problem …
Aligning Your HR Strategy with Your Business Strategy
How To Create Psychological Safety in your Organization
How to Give Corrective Feedback: The CARE Model - Eliminati…
Zero Acceptance Sampling to Reduce Inspection Costs
AI at Your Service: Enhancing Your Microsoft OfficeSkills w…
Identifying, Managing, and Retaining High Potential Employe…
Why EBITDA Doesn't Spell Cash Flow and What Does
Female to Female Hostility @Workplace: All you Need to Know
Human Factors Usability Studies Following ISO 62366 and FDA…
Developing and Implementing Quality Culture in the Organiza…
Dealing With Difficult People In Life & Work
How to Document Employee Discussions and Why it is Important
Project Management for Non-Project Managers - How to commun…
FDA Recommendations for Artificial Intelligence/Machine Lea…
2-Hour Virtual Seminar on the 6 Most Common Problems in FDA…
Enhancing Pivot Tables with Images: Visualize Your Data Lik…
How to Deal with Employees Who Love to Argue and Debate Eve…
How to Write Contracts for Procurement Professionals
Project Management for administrative professionals
Sunshine Act Reporting - Clarification for Clinical Research
Reprogramming your mind for Corporate Excellence: 4 Steps t…
Terminating Toxicity: Strategies For Leaders To Confidently…
Transform Data into Insights: A Beginners Guide to Excel Pi…
Onboarding Best Practices for 2025: Proven Strategies to Po…
How to Manage the Legal Landmine of the FMLA, ADA and Worke…
Uplifting the Credibility of HR: How to Build the Credibili…
How to Write Effective Audit Observations: The Principles f…
Strategic Interviewing & Selection: Getting the Right Talen…
Bridging Generational Divides in the Workplace
Onboarding Best Practices for Millennial and All Employees
Performance of Root Cause Analysis, CAPA, and Effectiveness…
Emotional Intelligence: Mastering the Emotions of Great Lea…
FDA Audit Best Practices - Do's and Don'ts
2-Hour Virtual Seminar on How to Conduct an Internal Harass…
Successful Strategies for FDA Expedited Pathways for Your D…
Regulation update Q1 2025: New and Proposed Regulations for…
Unlock Employee Loyalty: Stay Interviews Will Keep Them Eng…
Pay Transparency in Action: Strategies for Building Trust a…
Excel Lookup Functions: VLOOKUP, HLOOKUP, and XLOOKUP Made …