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Using Stay Interviews To Improve Employee Retention & Engagement

31 August |3:00 pm - 4:30 pm EDT

199

Overview:
There is a strong business case for retaining your talent because:
Turnover is rampant

  • Most resignations ever in the U.S. in April 2021
  • 4% unemployment rate – 2.2% for college grads
  • 63% of employees say it is  likely they can find a job as good as the one they have
  • 51% of employees & 60% of millennials are considering new employment opportunities
  • The average tenure for employees in their 20s is less than 18 months

Turnover is expensive

  • 16% of salary for jobs under $30,000 – replacing a $ 10-hour employee costs $3,328
  • 20% of salary for $30-50,000 jobs – replacing a $40,000 employee costs $8,000
  • Up to 213% of salary for management positions; replacing a $100,000 employee can cost $200,000

And your most talented employees:

  • Are more likely to be recruited with more opportunities available to them
  • Are the most expensive to replace
  • May take top performers and/or customers with them

Managers account for 70% of the variance in  employee engagement & retention with:

  • 65% of employees leaving their boss – not their job
  • Because of poor managers, productive employees leave organizations even when satisfied with the pay & perks
  • The prism through which employees see their organization is their view of their manager
  • Managers are the best resource for improving retention & engagement

The most important thing a manager can do is build trust with his/her direct reports. Employees who trust their managers stay & give their best. And stay interviews build trust because they:

  • Re-recruit talent by understanding why employees stay or might leave
  • Make employees feel valued while improving engagement, productivity & retention
  • Reinforce good relationships between managers & employees, forge new ones & help repair those that are strained
  • Identify employees’ needs & how those needs can best be met creating better employee experiences
  • Prevent exit interviews.

AREA COVERED

The Objectives of Stay Interviews
What Stay Interviews Are
What Stay Interviews Are Not
Steps in Initiating a Stay Interview Program
Conducting Stay Interviews

  • Frequency & length
  • Techniques & skills
  • Core stay interview questions
  • Sample potential issues & related probes of employees
  • Closing a stay interview

Following Through on Your Stay Interviews

  • Components of a stay interview action plan
  • Stay interview cautions
  • The three-step process for retaining employees.

WHO WILL BENEFIT?

Anyone with leadership, management, or supervisory responsibility.

More Info – https://bit.ly/3QCqfdY

Details

Date:
31 August
Time:
3:00 pm - 4:30 pm EDT
Cost:
199
Event Category:
Event Tags:
Website:
https://bit.ly/3QCqfdY

Organiser

247compliance
Phone:
+1-(510)-868-1040
Email:
webinar@247compliance.com
View Organiser Website

Venue

online
United Kingdom + Google Map

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