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In the aftermath of The Great Resignation, the 'stay interview' has emerged as a powerful tool against the lingering specter of disengagement.
How disengaged are today's workers? A recent Gallup poll discovered a staggering 77% of workers remain disconnected from their roles. Often, this manifests in either 'quiet' or 'loud' quitting. If you're aiming for both retention and fervent engagement, delve into the transformative potential of stay interviews to amplify employee loyalty.
Often overshadowed by their more popular counterpart, the exit interview, stay interviews help employers gather the intel they need to reengage and retain employees. In this post, we examine the difference between a stay interview vs an exit interview, the power of stay interviews for engagement and retention, the benefits they offer both companies and employees, best practices and 15 great stay interview questions.
A stay interview is a proactive approach undertaken by managers and supervisors to engage with current employees, particularly those who are highly valued. These interviews are more than just formalities; they are strategic conversations aimed at understanding what motivates employees to remain with the company.
The primary goals of a stay interview include uncovering what makes employees happy in their roles, what would increase their job satisfaction, and how the organization can improve their overall work experience.
Unlike exit interviews, which take place after an employee has decided to leave, stay interviews are conducted while employees are still actively engaged with the company. This allows for real-time feedback and fosters an environment where employees feel heard and valued.
By focusing on the factors that contribute to employee retention, stay interviews play a crucial role in reducing turnover and enhancing the overall workplace atmosphere.
While stay interviews are proactive and focused on retention, exit interviews are reactive, occurring only after an employee has decided to leave. The value of exit interviews lies in capturing the departing employee’s insights on the company’s strengths and areas for improvement. These interviews are critical for understanding the reasons behind an employee's departure and for gathering feedback that can inform organizational changes.
In contrast, stay interviews are designed to prevent the circumstances that might lead to an employee's exit. They offer an opportunity for management to demonstrate their commitment to their employees' satisfaction and professional growth. By identifying and addressing issues before they escalate, stay interviews can significantly contribute to a positive work environment and reduce turnover.
To recap, while exit interviews are about understanding and learning from an employee's decision to leave, stay interviews focus on retention, allowing managers to build stronger bonds with employees and proactively address their needs and aspirations within the company.
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Stay interviews are powerful because they benefit both employers and employees.
For companies, they provide valuable insights into the factors that contribute to employee loyalty. They help employers understand issues and concerns and tailor strategies to better connect with their teams.
For employees, the stay interview process demonstrates that their opinions and satisfaction matter, This fosters a sense of belonging and loyalty to the organization.
RELATED: Want Great Employees to Stay? It Starts with Your Onboarding Program >>
Happy employees are more productive. Stay interviews help identify factors that hinder productivity and ways to eliminate them.
Understanding what employees value most provides key insights into which benefits and growth opportunities employers should offer. Employee feedback also could reveal ideas for how to improve culture, workflow and internal communications.
For optimal results, follow these stay interview best practices:
RELATED: Understanding the Employee Life Cycle - From Attraction to Exit >>
These sample employee stay interview questions offer a starting-point template. Other employee-specific questions can and should be added as appropriate.
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The art of employee retention is not a one-time effort, but rather a continuous journey. Stay interviews represent a powerful tool to strengthen engagement and loyalty, benefiting both employees and companies.
Companies can fine-tune strategies to enhance the workplace experience based on insights into employee motivations and aspirations they glean from stay interviews, leading to growth, collaboration and mutual success.
To speak with an experienced HR consultant with expertise in stay interviews, contact our HR solutions team today. Reach out to us today >>
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