Each week, FP Weekly members receive a practical and cutting-edge checklist of issues to consider, action steps to take, and goals to accomplish to ensure you remain on the top of your game when it comes to workplace relations and employment law compliance. This week we provide you a checklist of questions to ask during a stay interview to help you be proactive and retain high-performing employees who may be “career cushioning” or engaging in activities to help them land their next role.
What is Career Cushioning?
“Don’t quit your current job before you find a new one.” Most people have heard this advice — and it’s taking on a new spin in times of economic uncertainty. Workers are updating their resumes, contacting recruiters, and sharpening their skills so they’re ready for the next move. Your workforce may be engaging in these so-called “career cushioning” activities either to advance their careers or cushion the landing if they find themselves on a layoff list. While career cushioning can help employees take control in uncertain times, this trend might lead you to lose your star performers, face higher turnover rates, and manage lower productivity when employees are focused on their next move rather than their tasks at hand.
In today’s unpredictable environment, some companies are preparing for layoffs, while others are facing labor shortages and struggling to keep key positions filled with top talent. Either way, you’ll want to ensure the high performers aren’t lured away before you have a chance to touch base with them and potentially make improvements that will increase moral and job satisfaction. As you know, it’s probably too late to convince an employee to stay when they’ve already found another job and given their notice. That’s why “stay interviews” can be beneficial for your company and your employees.
What is a Stay Interview?
While an “exit interview” is generally conducted with a departing employee before their last day, a stay interview serves as a temperature check with a high-performing, longer-term employee. The goal is to improve employee engagement and morale and address any concerns your employees have before they decide to leave.
In a stay interview, you’ll ask the employee what makes them keep coming back to your organization each day, what improvements can be made, and what career objectives they have.
Ideally, the employee’s immediate manager will conduct the stay interview at a time that doesn’t coincide with a performance appraisal — after all, you’ll want the employee to be open and honest and understand that the conversation isn’t tied to their annual review. Furthermore, while HR certainly can – and should – be involved in the process, it’s important for the direct manager to conduct the interview when possible and show support for the employees they interact with on a regular basis.
How to Prepare for the Interview
You should consider these tips as you develop your stay interview program:
Key Questions to Ask
During the stay interview, you’ll want to start with the basics, ask some broad questions, and leave room for specific follow up question that address the employee’s individual experiences and objectives. Here are some sample questions to help get you started:
Once again, remember to keep the meeting positive and end by thanking the employee for their feedback, summarizing what you learned, and letting them know how you plan to follow up. Taking these steps will let your employees know you care about their job satisfaction and may help you proactively resolve issues before it’s too late to convince your star performers to stay.