3-day Virtual Seminar

Improving Employee Retention & Engagement Through Stay Interviews

Overview

Stay interviews are an important means of re-recruiting your workforce - because what attracted 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.

It is easy to make the business case for retaining your organization's talent because turnover is both rampant & expensive
And to make matters worse - the most talented employees:

• Have more opportunities available to them
• Are the most expensive to replace
• Are the quickest to leave if they are unengaged
• May take top performers with them
• May take customers with them

Stay Interviews have become a very popular and effective means of reducing turnover with supervisors meeting individually with their direct reports to learn why they are staying or might leave - and what the supervisor can do to improve each employee's work experience. To know how to encourage employees to stay, we have to ask - only they know. Exit Interviews are too late

Why you should 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 saying 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

Areas Covered in the Session

• 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
• 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
• Why Stay Interviews Are Not
  • Performance appraisals
  • Conducted only when problems arise
  • Personal development
  • Causal, random discussions
• Initiating a Stay Interview Program
  • Who should conduct the interviews & why
  • Training managers & leaders
  • Setting retention goals
• 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
• 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