Stay interviews are conducted to help managers understand why employees stay and what might cause them to leave. In an effective stay interview, managers ask standard, structured questions in a casual and conversational manner. Most stay interviews take less than half on hour. They offer you a chance to find out the reasons each employee is, and wants to be, productive within the organization.
Having a regular Stay Interview program demonstrates to your employees how much you value them because you're careful to ask and listen to why they are still with your company.
A detailed Stay Interview plan will give you the valuable insight into the goldmine of information available you can use to reduce turnover of your high performing employees and save tens of thousands to millions on internal costs, not to mention helping them stay motivated, stay engaged, and stay productive.
Conduct a stay interview with new hires during and after their probationary period. Then, conduct stay interviews with all of your employees at least once a year. Avoid the tempation to combine it with your performance reviews. This is a separate kind of conversation and should happen at a different time. For instance if you conduct performance reviews in January, you may want to conduct stay interviews in June.
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