Improving Employee Retention and Engagement Through Stay Interviews
Pete Tosh is Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:
- Implementing Strategic HR Initiatives
- Maximizing Leadership Effectiveness
- Strategic Planning
- Enhancing Customer Loyalty
The Focus Group has provided these consulting and training services to manufacturing and service organizations across the U.S., Canada, Europe and the Middle East. Pete has worked closely with the leadership teams of organizations such as Exxon, Brinks, EMC, State Farm, Marriott, N.C.I. YKK and Freddie Mac.
Prior to founding his own firm 25 years ago, Pete had 15 years of corporate experience to include the V.P. of Human Resources and Quality.
Pete is co-author of Leading Your Organization to the Next Level: the Core Disciplines of Sustained Profitable Growth. Pete holds a B.A. degree in Psychology from Emory and Henry College and Masters degrees in both Business Administration and Industrial Psychology from Virginia Commonwealth University.
This webinar has been approved for 1.00 HR (General) recertification credit hours toward aPHR™, aPHRi™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org
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Turnover today is rampant because employees can be choosy with:
- The lowest unemployment rate in 48 years
- For the first time ever in the U.S. there are more job openings than eligible candidates
- Over half of U.S. employees saying it is ‘somewhat likely’ or ‘very likely’ they can find a job as good as the one they have
- 50% of employees & 60% of millennials considering new employment opportunities
- The average tenure for employees in their 20’s being less than 18 months
And turnover is expensive with the cost of replacing a:
- $10-hour employee over $3,000
- $30-50,000 job over $8,000
- replacing a $100,000 often over $200,000
However, engaged employees when compared to unengaged employees have:
- 65% less turnover in low-turnover organizations
- and 25% lower turnover in high-turnover organizations
Areas Covered
- The objective of a stay interview
- Making employees feel valued and improving engagement, productivity, and retention
- Reinforcing good relationships, forging new ones, and helping repair those that are strained
- Re-recruiting talent, causing employees to feel valued and enhancing the relationship between an employee and his/her manager - What stay interviews are?
- Employee/supervisor meetings to uncover what is important to each employee
- Means of learning why employees might leave and what their supervisor can do to improve their work experience - Why stay interviews are not?
- Performance appraisals
- Conducted only when problems arise
- Personal development
- Causal, random discussions - Initiating a stay Interview Program
- Who should conduct the interviews and why?
- Training managers and leaders
- Setting retention goals - Scheduling and Conducting Stay Interviews
- Frequency and length of each interview
- Preparing for an interview
- The most effective stay interview questions
- How to probe for candid responses?
- Handling employee responses for which you don’t have an immediate answer - Following Through on Your Stay Interviews
- Creating and documenting action plans
- Sharing accountability for the follow-through- Following up on the action plans
- Forecasting future turnover
Who Should Attend
Any Leader, Manager, or Supervisor [HR, Production, Accounting, Sales, IT, etc.] – who wants to increase employee engagement and/or retention.
Why Should You Attend
It is easy to make the business case for retaining your organization’s talent because turnover is both rampant and expensive And to make matters worse – the most talented employees:
- Have more opportunities available to them
- Are the most expensive to replace?
- Are the quickest to leave if they are unengaged?
- May take top performers with them
- May take customers with them
Stay Interviews have become a very popular and effective means of reducing turnover with supervisors meeting individually with their direct reports to learn why they are staying or might leave and what the supervisor can do to improve each employee's work experience. To know how to encourage employees to stay, we have to ask only they know. Exit Interviews are too late.
Topic Background
Stay interviews are an important means of re-recruiting your workforce because what attracts your employees is often different from what will keep them. Stay interviews tend to improve engagement and productivity - as well as retention. In this webinar, you will learn how to prepare for conduct and follow through on stay interviews.
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$200.00
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