The Importance of Stay Interviews

According to SHRM's Global Workplace Culture Report 2023, 96% of employees are less likely to dread going to work when they're in a positive culture, and 78% are less likely to look for another job within 6 months. Stay interviews are part of a healthy, transparent and positive work culture.

What are Stay Interviews?

Stay interviews are individual dynamic discussions between managers and their employees and are designed to learn what keeps employees engaged and loyal at work. These meetings are more casual yet, structured to foster an open conversation that can reveal insights on how an employee feels about their job and the company. Unlike exit interviews, which are conducted after the employee has already made the decision to leave, stay discussions occur with current employees and are guided by their direct managers. This allows an employee’s manager to address concerns and enhance satisfaction before it leads to a resignation.

Leaders can elevate their talent retention strategy with impactful stay interviews. Unlike traditional tools, stay interview questions allow for employees to reflect about their jobs and what both motivates and demotivates them.

Implementing a stay interview program helps to gain a strong understanding of employees' motivations, job satisfaction, and their connection to their company’s culture. This proactive approach not only identifies reasons for staying, it also provides a comprehensive view of employees’ engagement and overall experience. This conveys to your employees that you recognize and appreciate their loyalty and you care about more than just their performance. Additionally, it expresses that you are open to making changes that would increase their satisfaction at work.

Equally, they can uncover warning signs that an employee needs more support or guidance which helps leaders build more productive and trust-based relationships with their employees.

Sample questions a manager can ask an employee about why they stay:

1. What is your favorite part about working here?
2. What motivates you to work here?
3. What do you like most about your role?

Sample questions a manger can ask an employee about potential motivations for leaving:

1. What demotivates you when working?
2. Can you describe a bad day you recently had at work?
3. What aspects of your day make your work life harder?

When, the Chief Executive Group surveyed U.S. CEOs in January of 2024 about their top priorities for 2024, 60% said retaining and engaging employees was their top priority. A powerful retention strategy to keep your talented employees is to conduct stay interviews with them.

CEA members can access our Stay Interview Tool Kit with forms and questions to help you with the information needed to conduct stay interviews with your team. Are you ready to transform your approach to employee retention? Embrace the power of stay interviews and unlock the potential of your workforce. Call us today at 800.399.5331!