Maximizing Employee Retention Through Stay Interviews

Both stay interviews and exit interviews identify factors that drive an employee’s morale in the workplace with the main difference being timing of the interview. Implementing either of these interviews presents the opportunity for employees to express their opinions and give feedback about what they like (or dislike) about the job. But which type of interview has the biggest impact? 

While both interviews have pros and cons, stay interviews focus on current employee retention, allowing employers to proactively seek an employee’s feedback before they decide to leave the company. As current employees are those who managers have invested the most time and resources into, it makes the most sense to communicate situations that could benefit their commitment and engagement.  

Stay interviews are conducted periodically with employees during their employment.  These interviews help managers to identify specific reasons why current employees are continuing to work for the company or potential concerns that employees may have. A few benefits of stay interviews include; 

• Promotes employee engagement before they decide to leave the company 
• Indicates the company has a supportive culture 
• Develops mutual trust, understanding and respect 
• Identifies issues that may need more support/direction 

Although current employees may be cautious about reporting negative information, conducting stay interviews shows the employee that management values employee feedback. This open communication can often result in the employee sharing what motivates and engages them and what could be done to engage them even more. Exit interviews may be more valuable getting out negative opinions, but after the employee has handed in their resignation letter, it is likely too late to make any meaningful changes to retain that employee.