Executive Book Club: November 2014

 

For decades, organizations have struggled to find clear solutions to better engage and retain their best employees. At some point does it make sense to say, “Why don’t we just ask them?”

Well, we do ask them. We ask them through engagement surveys, opinion surveys, climate surveys, and exit surveys. We survey online, over the phone, and with live and recorded voices. These surveys generate reports, and from reports come scores and rank orders, which then become benchmarks. From benchmarks we set goals to improve our scores on the next survey. But are they timely and effective enough to improve retention today? Retention expert Richard Finnegan proposes using a more proactive approach, the Stay Interview. Stay Interviews do three things that surveys do not. They bring information that can be used today; they give insights for engaging and retaining individual employees including top performers; and they put managers in the solution seat for developing individual stay plans. Stay Interviews represent a tool that equips managers to anticipate, learn, and solve employee concerns to the best of their abilities and while employees are still on board.

The Power of Stay Interviews for Engagement and Retention provides HR professionals, line managers, and business leaders with the rationale, tools, skill sets, processes, accountabilities, and cases studies to demonstrate that the impact of Stay Interviews “is not only to count a reduced number of voluntary resignations but also to note the far fewer times that managers say of a leaving employee, ‘I wish I had known he felt that way.’”

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