In 2021, the average rate of turnover of employees in the United States has reached to 57.3%. At this rate, companies and their leaders are doubling their efforts to understand what could keep their employees happy in the workplace. Several ideas have been practiced in different industries to engage employees and make sure that they are celebrated, supported, and valued. But how can an organization figure this out?
This blog will help you understand the importance of conducting Stay Interviews to garner first-hand information from employees on what is working and what things can be improved.
A Stay Interview is a regular, informal conversation with management, focusing on the items that drive the employees to stay in their current roles. The objective of this activity is to learn about the points that motivate the employees and encourage them to stay. But the most important purpose is to learn about the items that companies need to do to keep their employees.
2 key points to an effective Stay Interview:
Stay Interviews > Exit Interviews
An exit interview covers the employee’s reasons for leaving the company. This is conducted either in person or virtual, in a form of a survey and usually a part of the employee’s clearance before they formally separate with the company. As the employee is leaving, there is little attention given to the survey and often only completed to make sure that they are cleared from the company.
A stay interview, can be conducted by a manager at their own discretion and can be a part of their one-to-one catch-ups. The employee is given value by recognizing the feedback they provide and in return, the manager learns more about what makes the employees stay. The company will now have to act on the items that they have learned and make sure that reforms will be considered.
Ask the right questions
Determining the right questions can be very meticulous but it is definitely worth it. First of all, establish that the conversation is a safe place where the employee will be heard without any judgement. Second, make sure that the line of questioning is clear and that the manager will refrain from being in a defensive mode as they continue with the conversation. Here are the top 5 questions that can be used:
- What do you like most about your job and what would you like to change?
This simple ice-breaker question goes right to the point and most employees feel comfortable to answer. Keep track on the things that motivate them. Ask follow-up questions to uncover the areas where they would like to see change.
- Do you feel that you are supported in creating a balance between your work and personal life?
Establishing a clear work-life balance is this era’s main priority for employees. Make sure to ask what possible solutions they have in mind to support them.
- Are you happy with your work environment?
It is absolutely important to know if your employees feel productive in their current work situation: in-office, work-from-home, or hybrid. A LinkedIn research unveiled that having a more flexible work situation is the top priority for candidates when they search for a job.
- Do you feel comfortable working with your team?
There is no denying that there are personalities and work styles that just don’t blend well. This question will help the manager to determine the areas where the team can celebrate and make adjustments.
- Is the company able to support you in your career development?
Listen intently to the employee’s answer. This will give the management ideas on how their culture can cultivate a work environment that supports the employee’s personal development plans.
The principal thing for organizations to keep in mind is that stay interviews are in place to make the workplace more attractive to talented employees for the long term. Through hearing the employees’ statements firsthand, management is able to determine the things that they should continue to do and those that need to be changed now to create an atmosphere of mutual benefit which will help to retain long-term employees.
Interested applicant? #FindYourPath with Seattle Financial. Click on the Job Seeker tab and you might find the right opportunity for you!