Smarter Signage Strategies for Higher Ed –
Join the Session!By Tim Vaughan
— January 28th, 2022
A stay interview is when an employer sits down with an employee to gain insight into the things the employee values about their job and those things they believe can be improved. This type of interview differs from an exit interview, as instead of asking an employee why they are quitting, a stay interview focuses on active employees and what will motivate them to stick around.
Stay interviews are more important than ever as in April 2021, a record 3.8 million Americans quit their jobs. That was the highest ‘quit rate’ ever recorded by the Bureau of Labor Statistics since it started tracking ‘voluntary quits’ in December 2000.
When conducted correctly, a stay interview should be an open, honest and transparent conversation in which the worker feels comfortable expressing their desires and frustrations. By fostering this type of trusting employer-employee relationship workers feel they can speak freely without fear of retaliation and knowing their feedback will be fully accepted.
Employers must be honest with their employees about the reasons for carrying out stay interviews. It should be clear that the interview is being conducted in order for the organization to gain a better understanding of what is and isn’t working for employees with the aim of gathering ideas for potential improvements.
If the reasons for the interview aren’t made clear, employees may become cynical that it is only taking place as a desperate tactic amid a period where the company is experiencing high employee turnover or the loss of key workers.
Along with being transparent about the purpose of the meeting, employers should give workers time to prepare. It’s also good practice to provide employees with a general outline of the issues up for discussion so they can collect their thoughts and be well prepared to express them accurately and effectively.
Carrying out employee satisfaction surveys prior to stay interviews can also provide key insights that can be delved into deeper during the interviews.
Another essential part of the stay interview process is for companies to identify their key employees. These are the workers which the organization wants to retain and who losing could have a significant negative impact on business.
While these are employees who should definitely be taking part in stay interviews, they are not the only ones. Insight can be gained from different groups of workers including those who have stayed a long time in the organization, high performers, individuals that enhance diversity, or those who are in high-demand fields.
When employees open up and tell employers about working at the company, then the company must be ready to take action in response to the feedback it has heard. The valuable information gained should be used to make a plan of action to see if any of the issues identified by members of staff can be rectified.
Of course, this doesn’t mean employees will get everything they requested, but even so, it shows that they have been heard and that the quality of their work matters to the organization.
The questions an organization should ask in a stay interview will depend on various factors, including the employee they’re speaking to, and the type of information they want to gather. Here are some examples:
Stay interviews provide a unique opportunity for employers to sit down with their employees to gather information about the things the workers value about their job and to discover what they believe can be improved upon.
Although stay interviews do not always deter someone from leaving, they can greatly improve leaders’ understanding of what their teams like and dislike, which will help them retain other valuable employees moving forward.