Improving Employee Engagement & Retention Through Stay Interviews

Recorded Session
60 Minutes

Stay interviews are an important means of re-recruiting your workforce – because what attracts your employees is often different from what will keep them. Stay interviews tend to improve engagement and productivity - as well as retention. In this webinar, you will learn how to prepare for, conduct & follow through on stay interviews.

WHY SHOULD YOU ATTEND?

Turnover today is rampant because employees can be choosy with:

  • The lowest unemployment rate in 48 years
  • For the first time ever in the U.S., there are more job openings than eligible candidates
  • Over half of U.S. employees say it is 'somewhat likely' or 'very likely' they can find a job as good as the one they have 50% of employees & 60% of millennials considering new employment opportunities the average tenure for employees in their 20’s being less than 18 months

And turnover is expensive with the cost of replacing a:

  • $10-hour employee over $3,000
  • $30-50,000 job over $8,000
  •  Replacing a $100,000 often over $200,000

However, engaged employees when compared to unengaged employees have:

 » 65% less turnover in low-turnover organizations and 25% lower turnover in high-turnover organizations

AREA COVERED

#1. The Objective of a Stay Interview

  • Making employees feel valued & improving engagement, productivity & retention
  • Reinforcing good relationships, forging new ones & helping repair those that are strained
  • Re-recruiting talent, causing employees to feel valued & enhancing the relationship between an employee & his/her manager

#2. What Stay Interviews Are

  • Employee/supervisor meetings to uncover what is important to each employee
  • Means of learning why employees stay might leave & what their supervisor can do to improve their work experience

#3. Why Stay Interviews Are Not

  • Performance appraisals
  • Conducted only when problems arise
  • Personal development
  • Causal, random discussions

#4. Initiating a Stay Interview Program

  • Who should conduct the interviews & why
  • Training managers & leaders
  • Setting retention goals

#5. Scheduling & Conducting Stay Interviews

  • Frequency & length of each interview
  • Preparing for an interview
  • The most effective stay interview questions
  • How to probe for candid responses
  • Handling employee responses for which you don’t have an immediate answer

#6. Following Through on Your Stay Interviews

  • Creating & documenting action plans
  • Sharing accountability for the follow-through
  • Following up on the action plans
  • Forecasting future turnover

WHO WILL BENEFIT?

Any Leader, Manager, or Supervisor [HR, Production, Accounting, Sales, IT, etc.] – who wants to increase employee engagement and/or retention.

Turnover today is rampant because employees can be choosy with:

  • The lowest unemployment rate in 48 years
  • For the first time ever in the U.S., there are more job openings than eligible candidates
  • Over half of U.S. employees say it is 'somewhat likely' or 'very likely' they can find a job as good as the one they have 50% of employees & 60% of millennials considering new employment opportunities the average tenure for employees in their 20’s being less than 18 months

And turnover is expensive with the cost of replacing a:

  • $10-hour employee over $3,000
  • $30-50,000 job over $8,000
  •  Replacing a $100,000 often over $200,000

However, engaged employees when compared to unengaged employees have:

 » 65% less turnover in low-turnover organizations and 25% lower turnover in high-turnover organizations

#1. The Objective of a Stay Interview

  • Making employees feel valued & improving engagement, productivity & retention
  • Reinforcing good relationships, forging new ones & helping repair those that are strained
  • Re-recruiting talent, causing employees to feel valued & enhancing the relationship between an employee & his/her manager

#2. What Stay Interviews Are

  • Employee/supervisor meetings to uncover what is important to each employee
  • Means of learning why employees stay might leave & what their supervisor can do to improve their work experience

#3. Why Stay Interviews Are Not

  • Performance appraisals
  • Conducted only when problems arise
  • Personal development
  • Causal, random discussions

#4. Initiating a Stay Interview Program

  • Who should conduct the interviews & why
  • Training managers & leaders
  • Setting retention goals

#5. Scheduling & Conducting Stay Interviews

  • Frequency & length of each interview
  • Preparing for an interview
  • The most effective stay interview questions
  • How to probe for candid responses
  • Handling employee responses for which you don’t have an immediate answer

#6. Following Through on Your Stay Interviews

  • Creating & documenting action plans
  • Sharing accountability for the follow-through
  • Following up on the action plans
  • Forecasting future turnover

Any Leader, Manager, or Supervisor [HR, Production, Accounting, Sales, IT, etc.] – who wants to increase employee engagement and/or retention.

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Transcript (PDF Transcript of the Training)
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Speaker Profile

ins_img Pete Tosh

Pete Tosh is Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:Maximizing Leadership EffectivenessImplementing Strategic HR InitiativesStrategic PlanningEnhancing Customer LoyaltyThe Focus Group has provided these consulting & training services to manufacturing & service organizations across the U.S., Canada, Europe & the Middle East.Pete has worked closely with the senior leadership teams of organizations such as Brink’s, EMC, State Farm Insurance, Marriott, N.C.I., Freddie Mac, and YKK Pete is also co-author of Leading Your Organization to the Next Level: The Core Disciplines of Sustained Profitable Growth. Pete holds …

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