What Are Stay Interviews and Why Do They Matter?

Stay interviews are private meetings between a current employee and their manager. The goal is to understand the employee’s experiences, identify areas for improvement, and learn what motivates them to stay. Conducted regularly, stay interviews help improve the work environment and retain valuable talent. 

The main objective of stay interviews is to re-recruit existing talent and prevent exit interviews.  

The questions asked during an exit interview may be similar to the questions asked at a stay interview, however, exit interviews occur when it’s too late to retain the employee.  A Stay Interview has more of a focus on the individual rather than the company, and if followed up with action, can serve to retain your top talent. 

What is the value of stay interviews? 

According to recruitment firm Robert Half, 50% of Canadian workers plan to look for new jobs in 2023. The top reasons include seeking a higher salary, better benefits and perks, more advancement opportunities, and greater flexibility to choose when and where they work.  

“More professionals want new jobs now – leaving the onus on employers to boost retention efforts and attract top talent looking for a change.” (Robert Half, 2023) 

Turnover is expensive, especially for top talent. Your most talented employees are probably being recruited more than anyone else, and they will continue to change jobs because they can. Stay interviews show you care and help improve your organization, making a strong business case for retaining talent.

Who can influence talent retention at your organization? Managers can.  

“Employees leave managers, not jobs.” 

Effective managers are crucial for employee satisfaction and retention. Employees need to trust their managers. Trust is built through consistency, clear expectations, confidentiality, accountability, and authenticity. Stay interviews reinforce trust, leading to a positive work environment and better employee retention.  

What do managers need to conduct effective stay interviews?

To conduct effective stay interviews, managers need proper training. They should show genuine interest, avoid defensiveness, and have prepared questions with potential responses. Collaborate with leadership to identify potential issues and reinforce the employee value proposition. Key skills include active listening, note-taking, taking responsibility for company decisions, and using probing techniques. Remember, managers are not required to address all issues on the spot.  

Closing stay interviews and following through 

At the end of a stay interview, managers should thank the employee, create an action plan together, and set specific deadlines. Providing a copy of the action plan to the employee reinforces commitments and builds trust. Following through on the action plan’s execution is essential for enhancing trust and improving employee retention.  

INNoVA can help with that 

Stay Interviews are a practice that promotes a healthy workplace culture which improves retention.  To learn more about the many ways your business can improve workplace culture, please contact us for more information.

Michelle Pandith
Business Development Manager