What Is a Stay Interview and Why You Should Do One

Almost everyone is familiar with an exit interview. An exit interview is when an organization asks a departing employee to share their experiences with the company. But “stay” interviews are also gaining in popularity, and for good reason.

What Is a Stay Interview?

Stay interviews are exactly what they sound like. They’re a way for managers to discover why an employee stays at a job, what might cause the employee to leave, and what the employee needs (both tools and benefits) to do their job effectively. According to some experts, stay interviews should be scheduled once a year, 6 months away from performance reviews, and should take about 30 minutes. It’s important to note that a stay interview is meant for employees to express their needs, rather than the needs of an employer.

Why Do a Stay Interview

Companies often invest in recruitment and onboarding efforts. They strive to attract top talent and onboard them seamlessly into the organization. While these efforts are crucial, the journey shouldn’t end once an employee is on board. Employee retention is equally important, and stay interviews offer a proactive approach to ensuring the happiness, productivity, and long-term commitment of team members.

The Benefits of a Stay Interview

Nurture Engagement and Loyalty

Stay interviews provide a platform for employees to voice their concerns, share their ideas, and discuss their career aspirations. By showing a genuine interest in their growth and well-being, you foster a sense of belonging and appreciation. This, in turn, leads to higher levels of engagement and loyalty. Employees who feel valued as people, not just workers, are more likely to remain committed to their role and the organization.

Provide Early Detection of Issues and Benefit Needs

Regular stay interviews allow you to detect and address potential issues before they escalate. Employees may express concerns related to their work environment, job satisfaction, or interpersonal conflicts. Employees might also discuss personal issues that are affecting their performance or could affect their performance in the future. For example, an employee might mention a health or care concern for a parent or child.

Satisfied and motivated employees who are not overly distracted by outside concerns are more productive. Stay interviews give you insights into what motivates your team members, enabling you to implement strategies that boost their performance. Whether it’s providing additional training, adjusting workloads, or offering flexible scheduling, you can make changes that enhance productivity.

By identifying these issues early, you can implement solutions, and get a better idea of what benefits might be needed. This can greatly reduce turnover.

Improve Workplace Culture

Stay interviews enable you to assess the health of your workplace culture. Are employees proud to be a part of your organization? Do they see a clear path for career growth? Are their contributions recognized and rewarded? By gathering feedback and acting on it, you can continuously work on building a positive, inclusive, and motivating culture.

Enhance Communication

Stay interviews open a two-way dialog between employees and management. They encourage transparency and trust, making it easier for employees to communicate their concerns and managers to address them. Improved communication can lead to better collaboration, innovation, and overall performance.

Tailor Career Development

Understanding the career goals and aspirations of your employees is essential for their growth and satisfaction. Stay interviews allow you to tailor individual career development plans. By aligning their ambitions with the organization’s objectives, you create a win-win situation where employees feel fulfilled and the company benefits from their increased skills and expertise.

Help Compete for Top Talent

In a competitive job market, attracting and retaining top talent is paramount. Companies that implement stay interviews stand out as employers who genuinely care about their employees’ well-being and development. By helping identify which benefits are most important to your employees you will be able to create more attractive benefit packages for recruitment. A good benefits package and employer reputation can be a powerful tool for attracting top-tier candidates, as they’ll see your organization as a place where their long-term growth and well-being are a priority.

Ultimately, stay interviews signal that your organization is employee-centric. Employees want to feel valued and heard, and an employer that actively listens and acts on their feedback is an employer of choice. This approach not only retains your current workforce but also helps in recruiting new talent.

Find out more ways to support your employees by learning about the benefits that can help

Find out more ways to support your caregiving employees by learning about the benefits that can help. 

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