A stay interview, also known as a retention interview, is meant to discover what motivates or demotivates the employees. The highest-performing employees are most likely to be interviewed. This is a strategy used to identify the positive changes that can be made for employee retention.
Importance of stay interviews
- Zero cost
Companies are meant to make profits; thus, low-cost tactics for improvement are always welcome. When conducting this interview, only the people concerned are required to make time and use the information given appropriately.
- Employee motivation
Everyone likes being heard, especially when they are your bosses. Most staff members complain of not being heard and their needs are not met, so the simple act of checking in will positively change their attitude towards work. However, nothing much will change if no changes are made to accommodate them.
- Get competition intel
More times than not, employees know about similar firms in the same field and how they operate. As you conduct the stay interview, don’t be afraid to ask what they know about what the competitors are doing in a certain area.
- Employee retention strategy
The interviews help the employer get as much information as possible about their employee’s needs and experiences. When treated well, especially the high-performing ones, it’s harder for them to resign.
- Individual employee assessment
When dealing with a group of employees, however many they may be, it’s hard to listen to them and their wants. Stay interviews are a chance for the least heard employee to air their views and present fresh ideas.
- Cultivate the company culture
The company culture is the set system of how the company is run. Stay interview is an opportunity to see if the system works, is it stagnant and dismissive, or is it engaging and thriving?
- Address problems early
Stay interviews allow the managers to identify new problems as they arise that would have otherwise not been noticed.
They get to change policies and practices that may lead to the company’s downfall.
- Employee loyalty
Loyalty works when both parties know that they got each other’s back. When you enquire about employees’ wellbeing, they understand that you want what’s best for them. In retrospect, employees won’t leave an employer they respect and are loyal to.
Now that we have addressed the importance of the interview, you will need to know what kind of questions should be asked to get quality information about the staff’s issues and suggestions
Below are some of the examples on how you can conduct a stay interview.
- What’s pleasing about coming to work every day?
- the most annoying part of coming to work
- How’s your work-life balance at the moment?
- In a given period, what was a bad day/good day like?
- Which aspects do you miss about your last job?
- Can the company do anything to make working here better?
- How do you feel when you are on your way to work?
- How do you feel when you head home from work?
- Describe your dream workplace
- The likes or dislikes about the working environment