If “stay interviews” are not part of your overall retention strategy, then you are missing out on a critical tool. These interviews aren’t just for you, either. They boost employee satisfaction and reduce turnover, which benefits you, your staff, and your patients.
What is a Stay Interview?
A “stay interview” is a regularly scheduled one-on-one interview between a manager and employee. It’s designed to help the manager learn what makes the employee stay with your organization and what might prompt them to leave. These interviews should be conducted within 4-8 months after a new employee is hired, and at least once a year after that.
If you want your organization to be great to work for, stay interviews are more important than annual performance reviews and employee satisfaction surveys. While Exit Interviews provide important information about why employees leave, they almost always occur after a decision has been made to seek other employment. Stay Interviews are intended to gather these details before an employee becomes emotionally invested in another opportunity. Stay interviews are also preferable to employee satisfaction surveys. Unlike a survey, an interview provides a two-way conversation. Managers have a chance to ask questions and delve deeper into areas of concern.
When performing stay interviews, a consistent tool should be used. If stay interviews become a routine with valued employees, trends may be identified. The interview should be conversational with a warm, caring quality. Questions should be directed at both what is important to the employee for future growth and what is frustrating and unsatisfying.
The stay interview is an opportunity to build trust with employees. This is especially true if the employee sees positive actions take place following their interview. When changes are made, you need to inform employees that the changes are the result of their suggestions and responses from the stay interview. Employees may not automatically make that connection.
As a key component of the company’s retention strategy, employees appreciate the simple fact that the organization is concerned about their future and that their manager took the time to consult with them.
Download our Stay Interview template.