Retain More Employees With Stay Interviews
Employees are quitting in droves, according to a recent Wall Street Journal article, backed up by hard data from the Bureau of Labor Statistics. Employee retention is easier than recruiting, I argued in my article about reducing employee turnover. And a great technique for employee retention is the Stay Interview.
Exit interviews are common but too much like talking to cows about why they left the barn. The stay interview asks why employees remain with you. The benefits are ample, argues Richard Finnegan, author of the cleverly titled book, The Stay Interview.
I spoke with Finnegan recently about the high quit rate across the economy. He said,
“Hard data proves the top reason employees quit is they don’t trust their managers. Stay Interviews are the absolute best trust-building activity…and therefore the best retention tool.”
On the surface, the stay interview appears to be a mirror image to an exit interview, identifying things people like about their job rather than things they dislike. That’s worthwhile, but the stay interview is much more valuable because it provides insights managers can use to motivate and retain the particular employee, not just a group.
Finnegan’s recommended first question is what the employee looks forward to when coming to work. Aggregated, those answers may help you promote certain parts of the work experience. But aggregate answers gloss over what a particular employee looks forward to. If Alice likes facing new challenges, keep that in mind when tossing out work assignments. If it’s novel, give it to Alice. There’s probably another employee who looks forward to assignments that he has experience with.
Similarly, the question, “Why do you stay here?” can be aggregated while also providing the manager guidance for the specific employee. Something motivates the person to stay, and the more that the manager can reinforce and enhance that something, the longer the person will stay.
Sometimes the answer doesn’t sound helpful, like, “I’m staying here for now, but my goal is to become a firefighter.” I brainstormed that question with a group of convenience store managers, none of whom had an opening for a firefighter. But the group thought the manager could offer to be a reference source, including information about the employee’s record showing up for shifts on time and following the company’s safety policies. That transforms the position from a dead-end minimum wage job to a path to the employee’s dream job. And it reinforces the value of showing up on time and following safety policies, worthwhile for all workers. But the manager only knows how to be helpful by talking to the employee.
Employee turnover projects often focus on broad themes: benefits, teamwork, company purpose. But each employee is unique. Each one has goals and dreads, hopes and fears, strengths and weaknesses. The managers with best retention performance work with each employee as an individual, customizing assignments, feedback and motivation to the individual worker. The Stay Interview is a great tool. Finnegan’s book is a worthwhile explanation of the process.
Talking to employees comes naturally to some leaders, so a program of Stay Interviews may not seem necessary. However, for most managers talking to employees is a task without a deadline. And for some, it’s a task without a deadline outside the manager’s comfort zone! How good are any of us at tasks without deadlines outside our comfort zones?
Finnegan suggests going beyond the stay interview to a system that includes dollar impacts of turnover, goals, measurement and accountability. That’s wise. It’s too easy to bring in an idea, then have everyone forget it. Systems are good.
Whether a company uses stay interviews or some other method, getting managers talking to employees leads to better worker engagement and retention.
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The Best Way to Set New Employees Up for Success Create an onboarding program that's both meaningful and memorable Congratulations; you've just hired a terrific..
Do This In Your First Hour, Day, Week, And Month Of Your New Job Getting settled into your new job is the ultimate act of..
7 Ways Modest Leadership Increases Team Success When we imagine the traits of successful leaders, whether they are managers, high level executives, CEO's or owners..
Grateful Workplaces and Engaged Employees All leaders need to ask themselves why happy and engaged employees are worth their weight in gold. If you’re a..
Managing employee stress during the festive period More than half of employees feel stressed in the weeks leading up to Christmas, with most calling for..
What's HR going to be in 2022? A Study sheds some light... A recent study shows us a glimpse of what HR might look like..
How to Avoid the No. 1 Reason People Leave Their Jobs William James, the father of psychology, stated that the most fundamental psychological need is..
Will You Be Leading an HR Function in 2024? Here are five things to look at to examine and determine if you’ve got what it..
Importance of Effective Employee Appraisals The performance appraisal may be one of the few times during the year where an employee and the reviewer, typically..
From Cubicle To Coffee Shop - How The Workplace As We Know It Is Changing In the past few years we have seen a major..
Employees don't see link between pay and performance Employers gave themselves only mediocre ratings on pay programme effectiveness. Employees are struggling to see the link..
Why You Should Consider Working For A Small Company Eighty-four percent of small-business employees are happy in their current job, according to the 2017 Aflac..
HR's key role in enlightened office design HR magazine and Landid's roundtable on the workspace of tomorrow explored how HR can positively influence facilities management..
Workplaces still hamper productivity Noise, lack of privacy and space are some of the factors causing the greatest dissatisfaction among office workers Nearly half of..
Nine Things You Should and Shouldn't Do If You Lose Your Job Most of us wouldn’t think to associate the words "joblessness" and "fun," but..
Top 10 Benefits Of A Workplace Wellness Program When Google opened up in the 90s it took a unique approach to employee satisfaction. In an..
It's all about potential: how to write a CV with no work experience Follow these tips to stand out among competing candidates – from research..
The Best Ways to Reward Employees. Having an effective reward program in place can help solve many of your HR issues. Every company needs a..
Burnout at Work Isn’t Just About Exhaustion. It’s Also About Loneliness More and more people are feeling tired and lonely at work. In analyzing the..
People Don’t Take HR Seriously; Here’s Why That’s Dangerous Legacy beliefs like being the bad guy and a lack of strategic vision isolates HR, and..
Think Strategically About Your Career Development In a world where the average employee sends and receives 122 emails per day and attends an average of..
Diversity Doesn’t Stick Without Inclusion Leaders have long recognized that a diverse workforce of women, people of color, and LGBT individuals confers a competitive edge..
How To Advance Your Career In A Crappy Entry-Level Job Yes, you can still bring yourself one step closer to snagging that dream job even..
Interviews are generally regarded as the primary decision-making event in any recruitment process. Regardless of your academic credentials or career thus far, it is crucial..
What causes burnout and how it can affect both the employees and the organisation How HR Can Help Prevent Employee Burnout An engaged workforce. It's..
Studies have shown that structured interviewing is more than twice as reliable a predictor of future employee performance than unstructured interviewing. That is why most..
Cyprus unemployment has been steadily increasing monthly since 2008 and is getting closer to double digits (January 2012 Eurostat figure – 9.6%). However there are..