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Stay Interviews:A Powerful and Low-Cost Employee Engagement and Retention Tool
Adding stay interviews to your engagement and retention strategies can help your organization retain critical employees. It’s the single best tool you can give managers. This webinar will include these learning objectives:
- Identify five key factors that impact an employee’s desire to stay or leave
- Recognize four possible “triggers” that cause the employee to consider leaving
- Learn how to ask probing questions and conduct effective, efficient stay interviews
- Survey a list of eight retention actions to increase employee’s loyalty and commitment
- Review a sample of stay interview questions and develop your own customized list to ask
- Discover how to develop stay plans for your employees and manage accountability
- Develop a simple “how-to-toolkit” that includes who to select, how and when to approach; interview formant, and how to handle possible resistance
Overview of the webinar
Are your employees engaged? Do they feel committed to the work they are doing? Do they brag about your company to others as a great place to work?
The best way to find out what your employees think and how to retain them is to ask them. Not just “How’s it going?”, but specific questions to get specific answers. Explore why your people remain with your company. 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 you the manager and a valued employee. Its aim, quite simply, is to learn what motivates your top talent employees to continue working for you and the organization. Likewise, it also elicits what might motivate them to leave. In an effective 30-minute stay interview, managers ask standard, structured questions in a casual and conversational manner. It’s not a performance discussion but rather a “let me get to know you and your goals” discussion.
Therefore, stay interviews will help managers and leaders understand their employees' goals and how they and the organization can ensure they will continue to be engaged and excited about their job. The stay interview is also 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. It will help 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.
Who should attend?
- CEO's
- COO's
- VP of Human Resources
- Chief Learning Officer
- Directors
- Project Managers
- Operation Managers and Supervisors
- Team Leaders
- Staff Managers and Supervisors
- Human Resources Professionals
Why should you attend?
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 organizations 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 the 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:
- They stimulate the employee: Most employees are excited simply by the fact that the organization is concerned about their future and that their manager took the time to consult with them
- They're personalized: Unlike engagement surveys and many other retention tools that are focused on what excites a large number of employees, this approach is customized to a single identifiable individual and their wants
- They include actions: Unlike exit interviews, which only identify problems, stay interviews also encourage the parties to identify actions that can improve the employee experience and actions that can help eliminate any major turnover triggers
- They are inexpensive: These informal interviews don't require a budget. In most cases, a half to an hour of a manager and an employee's time are the only major cost factors
Adding stay interviews to your engagement and strategies can help your organization retain critical employees. It's the single best tool you can give managers.
Faculty - Ms.Marcia Zidle
Marcia Zidle is a board-certified executive coach, business management consultant and keynote speaker, who works with organizations to leverage their leadership and human capital assets that results in higher performance and profitability.
She has 25 years of management, business consulting and international experience in a variety of industries including health care, financial services, oil and gas, manufacturing, insurance, pharmaceuticals, hospitality, government and nonprofits.
She brings an expertise in 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.
Credits
ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org