What You Need To Know About Retention Interviews

As a company suffering from or looking to understand staff turn-over, some companies have turned to employment questioners, which they use to gain any information on why staff is leaving. If you are interested in nurturing and keeping high performing team members, it is critical to carry out retention interview sessions on a regular basis.

To do these, each company has its own tactical model on how to execute this task. Out of all these models, a simple pattern can be derived and applied to your establishment, with the highest proof of success rates.

Retention interview process involves having a firm understanding of the overall costs linked to staff turn-over. This is prudent as it makes it easy when it comes to weighing in the risks and opportunities. Efficient communication cannot be emphasized enough, as such; open channels for communication need to be fostered and maintained in the workplace.

Retention interview, often referred to as stay interview, has been shown to bear plenty of advantages, this includes:

  • Increased retention and engagement rate.
    •    Stimulate the interest of employees.
    •    Helps employees remain focused at work.
    •    The building of stable bonds.
    •    Lowers operational expenses.
    •    It doesn’t necessarily require a lot of training.

At this point, you may be asking yourself, what makes retention interview training unique compared to others say soft-skill training? And the simple answer to this is because it is more efficient and it works. Managers get to set their goals and targets and are accountable for them.  The lock-in process challenges one to work in pursuit of said goals.

By use of probing questions, management gets to see team member’s perspective, thereby obtaining valuable data on reasons why they will stay or might leave the company. Typically, this revolves around remunerations and benefits, teamwork and the vision of the company.
To attain the best results, the process needs to take place in a conducive environment. This includes having proper tools and making it clear that there are no obligations whatsoever, hence placing them at ease.

That being said each employee is unique and has additional features such as fears, goals, and hopes.  In the end, the best way to transfer valuable knowledge is through verbal communication of people. Through retention interview, as a manager, you can build a great wealth of material for corporate knowledge bank.

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