"People
who have too many distractions to actually do any real work are in that bind
because they haven't invested enough time, effort or risk in their people,
their organization and their processes."
- Seth
Godin
I propose one of the most
stressful times in a business owner's or manager's life is when a top employee
walks in and quits.
If you want to improve at
engaging and retaining key employees, there's one simple step you can
take. This one step is known as a "stay" interview. Dr. John Sullivan, an
HR thought leader and former chief talent officer for Agilent Technologies,
has recommended stay interviews for more than 20 years.
How to Pull Off a Perfect Stay Interview
A "stay" interview,
writes Sullivan on TLNT,
is a one-on-one interview between a manager and a valued employee. Its aim,
quite simply, is to learn what makes employees want to keep working for you.
Likewise, it's designed to elicit what might make key employees want to leave.
Conduct enough stay interviews, and you might find your employees are
citing the same reasons for staying (or wanting to go).
Sullivan suggests holding
interviews once a year, during a slow business period. Don't space out the
interviews, either. Conduct all of them (with all your key employees) within
weeks of each other. That way, you can take what you've learned and promptly
implement around that information. For new hires, conducting the interviews at
four and eight months is acceptable.
Start the interview. How do
you initiate a stay interview with a key employee? Say something like
this: "Thanks for taking the time to have this discussion. As one of
our key employees, I want to informally pose some simple questions that can
help me to understand the factors that cause you to enjoy and stay in your
current role," writes Sullivan.
Learn why they stay. One
method is to deploy what Sullivan calls the "best work of your life"
question. Specifically, ask your employees: "Can you list for me the
factors that could contribute to your doing the best work of your life?"
Sullivan notes that this is the No. 1 retention factor for top
performers.
Learn why they leave. Ask about recent frustrations. Sullivan's questions include: "Think back to a time in the last 12 months when you have been at least slightly frustrated or anxious about your current role. Can you list for me the frustration factor or factors that most contributed to that anxiety? Can you also help me understand what eventually happened to lower that frustration level?"
Those are just three of the 20 questions Sullivan says you should consider asking in stay interviews. Ask them, and you'll be well on your way to improving engagement and retention.
And remember: You're taking a big step, just by periodically asking your people if they're happy. "Most employees," writes Sullivan, "are excited simply by the fact that the organization is concerned about their future and that their manager took the time to consult with them."
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