Category: Human Resource Management

Financially and in terms of saving time, employee retention is any day easier than recruiting. If you are a manager in a financial service, you will know what we are talking about. To impact employee attrition and lower employee turnover, managers need to measure employee satisfaction and engagement on a frequent basis. And a great technique for this is the Stay Interview.

While the exit interview asks employees why they are leaving, stay interview asks them why they remain with you. There are multiple benefits of conducting them.

Richard Finnegan, author of the book, The Stay Interview says,

“Hard data proves the top reason employees quit is they don’t trust their managers. Stay Interviews are the absolute best trust-building activity… and therefore the best retention tool.”

The basic themes of employee turnover projects mostly include teamwork, benefits, and organizational purpose. But that does not work all the time. Every employee is unique. As a manager you need to know that each employee has goals, anticipations and anxieties, potencies and limitations. And it will do you good to know and harness the power of this knowledge.

It is up to the managers how they wish to grow in relationship with employees. Stay interviews can help you enhance employee engagement, employee motivation and retention. So let’s dive into more details about

Also read: The Downsides Of 360 Degree Feedback And How To Fix It

Conducting Stay Interviews:

HR manager for Geocent, a Louisiana based technology company, Susan Seip says,

“It’s a relationship review. What’s your relationship to the company, the project team, and your manager, and what is within your purview to make those better?”

So, it’s important to know how you can conduct stay interviews well. They are conducted one-on-one, wherein you ask deep questions and your employees share valuable and meaningful answers. When a company takes time out to conduct these one-on-one stay interviews, employees feel that the higher management is open to feedback and cares about employee concerns.

Start off the interview by letting your employees know that their feedback is valued, and you hope to get honest answers from them. If you are looking to ask the right stay interview questions, here are some questions you might want to consider.

Questions to ask in a stay interview

• Can you walk us through a recent good day at work?
• What keeps you working here?
• How would you rate your happiness here on a scale of 1 to 10? What would it take to get you to a 10?
• What do you enjoy about your job and what you don’t?
• What can drive you to leave the company?
• What would you like to change about your job, team or department?
• What changes do you wish to see in the company culture?
• What motivates you at work and what demotivates you?
• How would you like to get recognized for your work?
• Where do you see yourself in five years?

Also read: Want To Know Why Your Employees Leave? Here’s Why

Don’t forget to close the interview with a prime question, “Is there anything else you wish to talk about?” When you are training to conduct stay interviews, you might come up with more specific questions to ask your employees. The main motive is to recognize problems way before they become deal-breakers that can lead your employees to leave the organization. There are chances you might feel defensive when there is criticism from the opposite side, but it’s better not to react and instead, try and see things from the employees’ perspective.

What can you expect in stay interviews?

All managers worry about receiving questions from employees, asking for raises that are beyond the budget. If your employee does ask about a raise, or a promotion, or something beyond your control, answer truthfully. If an employee asks you for a role they are not yet equipped to handle, guide them through employee training prospects that can be arranged during the next budget cycle. Tell them that you wish to find issues that are under your control, so that you can provide them with whatever they need. You might not be able to give all, 3 out of 5 things you will be able to.

Whether you use stay interviews or something else, the most important intention here is getting managers to talk to employees in a way that leads to improved employee engagement and retention.

---

Engagedly is offering a suite of products part of its Remote Work Toolkit free to any organisation, until Sept 30th, 2020. 

The Coronavirus has affected the way we work today and for months to come. Unprecedented events require unprecedented measures. We at Engagedly believe it is our responsibility as socially conscious corporate citizens to help equip organisations with additional tools and resources during this time of crisis.

---

Get in touch with us to know more about the free remote working tool-kit. 

When you are looking for a job, it is necessary to gauge what the hiring managers are looking for, and what would they would like to avoid. It’s not easy to land the job of your dreams, and it rarely ever fall into the lap without putting in much effort. But, there are a few do’s and dont’s that can help you get one step closer to getting that job.

Continue reading “Know How to Meet the Requirements of Hiring Managers”

It’s not an easy job to become a good manager. It takes a lot more than just delegating and telling employees what to do and what not to do. In this article, we are going to focus on manager mistakes and take a look at how they impact employee engagement and employee performance.

Continue reading “Be A Better Manager And Avoid These 5 Mistakes”

Whether you like the idea or not, a lot depends on a company’s foundational values and culture. Yes, every organization has one and it always differs from the rest.

Continue reading “Creating a Performance Based Culture in Your Organization”

Goal setting is a tedious and daunting process, if one is just starting off. But it should be considered as one of the most important tasks of a manager because of its numerous benefits. Having effective goals increases employee productivity, motivates them, improves decision making and time management skills, and promotes teamwork. That’s why it’s important to  set goals for your employees which are effective. Continue reading “7 Tips To Make Your Goal Setting Effective”

As per a recent study by Gallup on employee retention and attrition, they found out that: Continue reading “7 Successful Strategies to Conduct A Stay Interview”

As per 2019 Work Institute Research, three in four employees who left the organization could have been retained. Out of every 100 workers: Continue reading “6 Stay Interview Challenges To Be Aware Of”

We often neglect the other aspects of our lives, immersing ourselves into work. But we also know, that in order to truly live a life of satisfaction, it is not just important, its mandatory to have work-life balance, especially since now most of us are working from home.

Continue reading “Good HR Management Software Can Promote Work-Life Balance”

Imagine you’re the HR manager of an organisation and have already had a stressful day at work. An employee, who has been trying to reach out to you since morning, finally walks up to you and reports of harassment from a colleague.

Continue reading “A Guide to Understanding Job Competencies”

One of your best employees requests you for a one on one meeting and says, “Hey Charlie, I wanted to talk to you about something very important. I have been thinking of quitting my job here lately. So I’d like to give notice that my last day will be __ ”. Once you get over the unexpected shock, what’s the next step? No, we are not talking about recruiting new talent.

Continue reading “What Are Exit Interviews And How To Use Them?”

At some point or the other, we have been in a situation where we were nervous about our first day at work but were equally excited. Imagine that excitement and enthusiasm fizzing off because of feeling unwelcome at your new office; sounds very disheartening, doesn’t it?

Continue reading “Smart On-Boarding Practices That Go A Long Way”

Remote working has become a norm in today’s world. Given the current scenario, its necessary that you have an effective employee check-in strategy in place. Essentially, employee performance check-ins are one-on-one conversations between managers and employees about their goals and objectives and their performance plans.

Continue reading “Employee Check-Ins Are More Important For Remote Employees”

In your organisation, like in most others, it’s the key employees that keep the ball rolling. If one of those employees come up one day and tell you, they have decided to quit and move, it is a hard blow to take. Because we all know, while you will be able to hire someone else in their place, how soon will the new hire be able to deliver with that expertise? Not so easily, and sometimes… never.

Continue reading “Stay Interviews: Best Practices to Retain the Top Employees”

One of your best employees requests you for a one on one meeting and says, “Hey Charlie, I wanted to talk to you about something very important. I have been thinking of quitting my job here lately. So I’d like to give notice that my last day will be __ ”. It is never easy to see your star employees leave the organization. 

Continue reading “Implementing Stay Interviews In Your Organization”

Employee retention has been a significant topic of discussion for a very long time. How can we reduce turnover? How can we keep employees from leaving the company? How do we get to know if an employee is planning to quit?

Continue reading “Why Are Stay Interviews Essential For Your Organization”

In just a couple of months, employers all over the world have had to reset everything that had been normal until now. Millions of employees transitioned from being office goers to remote workers, because of COVID-19.

Continue reading “For The Leadership: Redefining How The World Works Today”

Effective communication with team members is often a point of confusion these days. When employees do not see open lines of communication with their manager, or do not understand what is expected of them, they tend to quit.

Continue reading “Know How To Conduct One-On-One Meetings Effectively”

Managing human resources is one of the most critical functions in any company. Its time-consuming and exhausting for an HR personnel. Instead, if you have a digitally automated HR management software in your organisation, it can ease many daily HR activities and solve management issues.

Continue reading “Here’s How An HRM Software Can Benefit You”

The nature of work is such that most organizations these days have employees who are not only diverse, but also far-flung.

Continue reading “The Role of HR In The Office Holiday Party”