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The best way to find out what your employees want and how to retain them is to ask them. Ask questions to gauge how you're meeting your employee's expectations. Not just "How's it going?", but specific questions to get specific answers. Explore why these people remain with your company. Why did they join the organization? 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 a manager and a valued employee. Its aim, quite simply, is to learn what makes employees want to keep working for you. Likewise,it's designed to elicit 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.
The stay interview is 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. Stay interviews are preferable to employee satisfaction surveys because they:
Why should you Attend:
- Provide a two-way conversation and a chance to ask questions
- Get more in-depth understanding of that employee's current motivation
- Offer managers the opportunity to quickly reinforce the positives and deal with the employee's concerns
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 firms 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:
Areas Covered in the Session:
- 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're limited to key employees:By having a "stay" discussion exclusively with your key employees who are at risk of leaving, you focus the manager's effort and you minimize the overall time that the manager must devote to retention.
- 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.
Who Will Benefit:
- 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
- VP of Human Resources
- Chief Learning Officer
- Project Managers
- Operation Managers and Supervisors
- Team Leaders
- Human Resources Professionals
Marcia Zidle, MS, NCC, BCC is the CEO of Leaders At All Levels and a board certified executive coach based in Dallas Texas. She works with executives, management teams and high potential professionals ON THE MOVE! They want to move up to the next level - ahead of their competition - into new areas - over and around obstacles - beyond business as usual - towards a sustainable future.
With over 25 years of management, business consulting and international experience in the areas of business transformation, talent management and leadership development, she provides strategic focus, alignment and guidance to business leaders and their teams to ensure they get on the right track, stay on the right track and not get side-tracked in their drive for higher performance and profitability.
Marcia's expertise includes coaching high performers for senior and mid-management positions, developing effective executive teams, positioning organizations for significant growth and facilitating business and team performance. Her specialties include strategy and culture, change management, employee engagement, team building, career management, leadership assessment and development.
Her clients include Southwest Airlines, Dr Pepper / Seven Up, EDS, FCCI Insurance, Solvay Pharmaceuticals, Texas Health Resources, UT Southwestern Medical Center, Nokia, Plymouth Steel Tubing, Raytheon, Texas Instruments, Southern Methodist University, Global Leadership Executive MBA at Univ. of TX at Dallas. U.C.L.A and U.S.C. (California), Texas Workforce Commission, Banking Operations Institute, National Management Association, National Society of Hispanic MBA's, Society of Human Resource Management, Young Presidents Organization, Multiple Sclerosis Society of Texas.
Marcia is the author of "The Effective Manager: What Really Works" handbooks and "Career Savvy: Life Preservers for Today's Rough Seas and Tomorrow's Raging Waters." She has a Masters in Organization Effectiveness from University of Southern California and is a Board Certified Coach from the Center for Credentialing & Education, Inc.
She's also the host of The Business Edge, a weekly internet radio show on the business channel of Voice America Media, giving practical advice to executives and managers on how to take their company, firm or practice to that next level with less stress and more success - in other words: how to take the growing pains out of growth.
Finally Marcia's "claim to fame" is as a global citizen - living as an expatriate with her family in Scandinavia and Australia. In fact, one of her children is an "Aussie". She's traveled in over 30 countries throughout Europe, the Middle East, Far East, and the South Pacific.