One study reported that 86% of employees plan to pursue new jobs and employee turnover is on the rise and is expected to continue to worsen over time. In addition, over 60% of companies report having difficulty recruiting key talent. Most companies see retention as a key strategic imperative but less than half have a specific retention plan. Unfortunately most retention efforts are overly general, are expensive, and have little positive impact on turnover.
Stay/retention interviews offer a specific, targeted, and effective solution to the turnover problem. Rather than throwing money at the problem this tactic gets at the source of the retention issues by determining why each employee is likely to stay or leave and then develops an effective plan to retain valuable employees.
This webinar provides specific and useable tools for conducting stay interviews in your company. The core of the toolkit is actual interview questions in ten key areas. This process leads to a plan of action that increases the probability of retaining valuable employees. The Retention Toolkit gets at the source of the problem and allows managers and employees to work collaboratively to create realistic plan of action.
The pressing issue is that avoidable employee turnover costs companies billions and that retention interviews offer a viable solution for managing turnover risk.
- Participants will learn the specific steps and receive the necessary materials to conducting an effective retention interview
- Stay interviews are a proven method of decreasing turnover and increasing retention.
- Turnover across the country has been increasing and is expected to continue to increase resulting in increased costs and reduced company effectiveness.
- CEOs have identified employee retention as a critical business imperative and stay interviews offer a targeted and specific solution to turnover.
- Stay interviews have the benefit of increasing employee motivation, engagement, development, and empowerment.
- Retention interviews offer a targeted process for focusing retention efforts on high impact employees
- Stay interviews identify areas of retention risk and a proactive solution for managing risk.
Participants will receive a toolkit for actually conducting stay interviews. The toolkit will contain:
- Supervisor’s pre-interview form to set the stage for the interview
- Staff retention interview questionnaire
- Retention Interview Form with specific questions in 10 key areas including an individualized retention plan for each employee
- Retention tracking form