Human Resources Training, Interview training

Stay Interviews: A Powerful and Low-Cost Employee Engagement and Retention Tool

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The concept of “lifetime employment” is past us. Yet, today is also the time when the demand for talent is perhaps at its highest. The reason for this demand is understandable: talent is not easy to find. If finding the right talent is a big challenge for HR, the bigger one is retaining them, because talented employees are difficult to find, but easy to poach!

It is thus no surprise that a recent Harvard Business Review article entitled “How to Keep Your Top Talent” showed that almost a quarter of an organization’s top talent plans to move out within just a year of joining.

The onus of retaining talented employees rests with HR. Organizations have everything to gain by keeping talented employees, because it is the only way by which to not only ensure that the company grows, but to also justify the high cost that would have gone into finding them. Frequent departures by talented employees, especially those in key positions, can affect the organization in a number of ways.

It can hurt the quality of their products and services. It can waste their time, and worst of all, hit their reputation because they earn the name of being a company that cannot retain its talent.

So, how do organizations build and retain talent? A webinar from TrainHR, a leading provider of professional training for the human resources industry, which is being organized on November 20, will show the means by which to do this. Marcia Zidle, CEO of Leaders At All Levels, will be the expert at this session.

Please visit TrainHR to enroll for this valuable learning.

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A stay interview is ideally set up when HR senses that an employee is about to leave the company. During this session, it should have a clear discussion, at which the topic of the upcoming resignation will be discussed specifically. The basis to this meeting of course, should be certainty about the employee’s decision to leave.

stay-interviews

When done right, this stay interview can go a long way in making the key employee change her mind about leaving the organization. HR should come up with solid and practical suggestions for keeping the employee who is planning to leave. It should also roll out its amended offer, if any.

First of all, HR should understand the reasons for which the employee is planning to leave. The reasons could vary from pay to working conditions to bad colleagues to better opportunities. The stay interview should find this out without being intrusive. Having discovered the reason, it should come up with something that is more enticing for the employee than what is on offer elsewhere. All these require tact and patience.

Marcia will offer suggestions on how to conduct stay interviews that offer a range of benefits for the employee and the employer. Stay interviews should stimulate the employee because, often, just the call for such an interviews fills them with pride that the organization is valuing their work, but for which it would make no attempt to keep them.

Further, the stay interview is personalized, being different from other mass employee programs. The stay interview also results in concrete actions once it is completed, such as shifting the employee to a position or job of her choice. And the best of all, they cost almost nothing.

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About the speaker: Marcia Zidle is the CEO of Leaders At All Levels and a board certified executive coach based in Dallas Texas. With over 25 years of management, business consulting and international experience in the areas of business transformation, talent management and leadership development, she provides strategic focus, alignment and guidance to business leaders and their teams to ensure they get on the right track, stay on the right track and not get side-tracked in their drive for higher performance and profitability.

 

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