What's a 'stay interview,' and how can it help you retain talent?

With increased rates of burnout and resignations, it’s more crucial than ever for employers to engage with and understand their workforce. Many workers are familiar with periodic check-ins and performance reviews, reminding them of quarterly or yearly goals and targets — but engagement has to go beyond that.

Lily Valentin, head of operations for North America at job search engine Adzuna, names the “stay interview” as a cornerstone of employee retention strategy. Ideally, it allows for an informal conversation between senior leadership and employees a few times a year, offering both parties the chance to know each other as human beings, explains Valentin.

“The stay interview has really been around effectively forever within every organization, but it's had different names and different formats,” says Valentin. “But for me, it is truly an opportunity for employees and leadership to have a candid conversation about general job satisfaction, long-term aspirations, motivation and recognition.”

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Faced with a global pandemic, many employees may be disconnected from their teams and managers as they work from their homes and take extra precautions with the outside world. A study done by behavioral science company Emotive Technologies found that employees felt nearly two times less engaged when they worked remotely versus workers who went into the office. On top of disengagement, workers are experiencing higher levels of exhaustion and stress: HR software company Ceridian surveyed 1,000 workers, 87% of whom reported feelings of burnout.

“You have employees who have been forced to succumb to hiding at home rather than pursuing favorite pastimes and routines, so it’s not shocking you end up with employees in a bit of funk,” says Valentin. “You have burnout on one side and then you have one of the biggest hiring booms that we've ever seen on the other side. Employers need stay interviews to retain candidates, and at the same time, shape their culture in an effort to attract new talent.”

That being said, what are the mechanics of a stay interview? Valentin recommends that a junior employee and senior leader within that department are the only interview participants. At a minimum, the interview should occur twice a year but preferably once a quarter — Valentin believes frequency is key. She also encourages senior leaders to block out at least an hour of time in their calendar for the interview, even if the conversation will likely be no more than 20 to 30 minutes. This ensures no one has to cut the conversation mid-sentence, Valentin says. Most importantly, a stay interview should also feel informal

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“Employees should feel comfortable sharing what’s on their mind, which means they shouldn’t be in a stiff conference room,” says Valentin. “If you can, grab a cup of coffee and go for a walk in a local park — get individuals out of their normal space and get them talking.”

And while that level of informality may not be possible for all remote workers, the senior leader should at least highlight the objective of the meeting beforehand, explaining it as a conversation rather than a review or a formal interview, advises Valentin. Department heads and leads should especially be interested in any challenges the worker faces within their jobs and lives, how they feel about their current role, and what they find motivating about their work. Valentin stresses these interviews especially touch on long-term career goals.

“For any organization, whether you are a multinational company that employs thousands of people or a coffee shop that has five staff members, understanding what employees want to do in the long-term can really help an employer retain talent,” she says. “That’s assuming that they're able to take action on given feedback.”

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Follow-up is an integral part of stay interviews — the senior and junior employees should create an actionable plan that addresses points of stress or discontentment for the worker. This may include a couple of added PTO days, entering a training course or simply having more flexibility throughout the workday for appointments and family.

Valentin also urges senior leaders to prepare themselves for difficult feedback and employees to prepare themselves to share difficult answers.

“My most critical tip to employers is to really listen, absorb and see what you can do, not only for that individual but your organization as a whole,” Valentin says. “As for employees, they need to understand that they’re in the driver’s seat and they should always feel like they’re in the driver’s seat — employers will respect your honesty now more than ever.”

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Employee retention Employee engagement Hybrid Work
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