What is a stay interview? Adding to your retention toolkit

With today’s ever-changing jobs market, employee retention has become a top priority for organizations struggling with labor shortages.

One recent survey found that 51% of operations and 66% of HR departments are putting retention at the top of their list as their turnover climbed between 2021 and 2022.

While recruitment efforts are essential, retaining existing talent saves on costs and training time. That’s why 78% of those surveyed organizations say they’re increasing base salaries. Others are tackling turnover by focusing on employee well-being and investing in benefits and a positive culture.

One valuable tool that supervisors and managers can employ to strengthen their workforce is the stay interview.

What is a stay interview?

A stay interview is a proactive, structured conversation between a supervisor or HR manager and an employee who is currently working within the organization. Unlike exit interviews – which typically occur when an employee leaves – stay interviews are conducted with the goal of understanding what keeps an employee who remains with a company engaged and motivated.

For the interviewers, the primary purpose is to uncover potential issues and identify opportunities for improvement before challenges drive workers away. A stay interview is an invaluable tool to improve worker satisfaction and give managers constructive feedback on what can be done better.

What makes a successful stay interview?

Stay interviews open an honest dialogue between employees and management. By initiating these conversations, supervisors and managers can gain valuable insights into their employees' thoughts, concerns, and aspirations.

That’s why it’s important to focus on the key elements to a successful stay interview:

• Only speak to a few of your top or long-time employees.
• Set clear goals from the start.
• Ask questions with the goal of starting a conversation.
• Don’t promise changes that you can’t deliver.
• Focus on listening and asking follow-up questions.
• Choose a comfortable setting (not during a performance review).
• Make sure to schedule plenty of time.

Typical stay interview questions

The success of a stay interview largely depends on the questions asked. Here are some thoughtful questions to guide your conversations:

1. What talents or skills do you feel that we’re underutilizing?

Take this as an opportunity to identify untapped potential within your workforce and realign job responsibilities to better match abilities.

2. If you could change one thing about your job, what would that be?

Make more targeted improvements by understanding exactly what your workers are frustrated with.

3. What parts of your day-to-day do you look forward to?

It’s equally important to know the positive aspects of their role and how you can reinforce job satisfaction.

4. What changes could make your job more fulfilling or engaging?

Try to gather and identify actionable steps for improving employee engagement.

5. How do you prefer to be acknowledged for your contributions?

Consider new ways to tailor your recognition efforts to improve feelings of value and appreciation.

6. What might tempt you to consider leaving your current role or the organization?

Work to address the potential triggers that might lead someone to make a career change.

Stay interviews are invaluable for today’s employers

Stay interviews are a proactive retention strategy. They allow you to identify and mitigate potential issues before they escalate to a critical point.

They also allow you to demonstrate to your workforce your commitment to employee well-being and development. When employees feel valued and that their career goals and aspirations are heard, it shows.

In addition to lowering turnover and new hire costs, stay interviews can reveal cultural or operational issues that, when addressed, can lead to a more positive and productive work environment.

At Adecco, we know how critical retention is for successful employers. Stay interviews offer a unique opportunity for supervisors and managers to hear directly from their employees and foster a more positive workplace culture.

If high turnover remains your biggest pain point, reach out to Adecco today. We have decades of experience in HR solutions – and utilize the latest tools and research to better understand your local markets. Contact us today to learn more!