Using the Stay Interview for Retention and Culture Development
As companies are fighting for talent in a tight labor market there is a need for them to look at how they are retaining their best people and developing a culture that others want to join. Too many times managers are focused on the negative aspects of managing people and do not take the time to develop the talent that's right in front of them.
Today, departing employees are asked their opinions and experiences on their way out the door. These “exit” interviews can reveal some information about why people are leaving, however, the interviews are typically guarded and are certainly too late to affect retention. Instead, the "stay" interview is targeted at retention, exactly as its name implies. These simple conversations take the pulse of employees' current experiences, attitudes and opinions in a more routine cadence, enabling leadership to implement improvements before they have lost a valuable asset.