How Borrowing from the Hospitality Industry Can Solve High Turnover in the Corporate World: The Art of the Stay Interview

Let’s face it: the corporate world is experiencing a massive turnover problem. Talented employees are leaving at alarming rates, and we all know what the exit interview looks like—it’s too little, too late. But what if I told you that borrowing from the hospitality industry could be the key to reversing this trend?

A Lesson from Hospitality: “Always Serve Your Guests”

In the hospitality industry, the golden rule is simple: serve your guests before they ask. Hotel managers don’t wait for guests to complain about their stay; they anticipate their needs and check in proactively. They know they'll likely never return if the guest walks out unhappy. Sound familiar?

Now, what if corporate leaders applied this thinking to their employees? Imagine taking the time to understand what’s going well truly—and what’s not—before the resignation letter hits your inbox. Enter the stay interview, a powerful tool to diagnose and meet unmet needs while your employees are still engaged.

The Stay Interview: A Corporate Game-Changer

Here’s why the stay interview could be your company’s best retention strategy:

1. Proactive Check-ins: Like hospitality leaders, you don’t wait for employees to become disengaged. You check in regularly to assess their satisfaction, challenges, and future aspirations.

2. Meeting Unmet Needs: I’m a big believer in identifying and meeting the unmet needs of employees. Whether it’s a need for growth, recognition, or better work-life balance, asking the right questions early on reveals the pain points before they become deal-breakers.

3. Emotional Loyalty: Employees stay where they feel heard and valued. When you take the time to invest in their well-being and career path, they’re not just loyal; they’re emotionally loyal. This is what turns a “satisfied” employee into an advocate for your company.

Why the Corporate World Needs a Mindset Shift

Many executives think of employee satisfaction in terms of perks—free lunches, ping-pong tables, or even salary bumps. But if the basic human needs aren’t being met, all the perks in the world won’t keep your top talent from leaving.

Borrowing a concept from my coaching style, I work with leaders to meet the six basic human needs in the workplace:

1. Certainty: Does your employee feel secure in their role and future with the company?

2. Variety: Are they challenged and stimulated by their work?

3. Significance: Do they feel valued for their contributions?

4. Connection: Are they forming meaningful relationships at work?

5. Growth: Are they learning and advancing in their career?

6. Contribution: Do they feel they are making a meaningful impact?

These are the hidden drivers behind your employees’ decision to stay or go. If any of these needs aren’t being met, you’re at risk of losing them.

Approach the Problem Differently

Here’s where orthogonal thinking comes in—looking at this problem from a different angle. Rather than focusing only on the perks or salary raises, think about how to address the emotional needs of your employees. What if, like in hospitality, you shifted focus from simply fixing what’s broken to proactively creating a culture of care?

Stay interviews give you the data to act before it’s too late. They allow you to assess unmet needs, show that you care, and provide opportunities for growth. And when done right, these interviews foster emotional loyalty, making your company a place where people want to stay and grow.

How to Conduct a Stay Interview (Borrowing from Hospitality’s Playbook)

1. Make it a Two-Way Street: Just like a hotel guest, your employees need to feel that they can voice concerns in a safe, non-judgmental space. Be open, and more importantly, listen.

2. Ask Targeted Questions: What’s one thing you wish was different? What makes you feel most connected to your role here? What would make you consider leaving? These questions help unearth unmet needs.

3. Act on Feedback: Stay interviews are pointless unless you act on the feedback. Hospitality professionals know this better than anyone—if a guest complains about the pillows, the hotel manager ensures they get replaced that night. As a leader, when you listen to employee concerns and make changes swiftly, you build trust.

The Call to Action: It’s Time to Stay Engaged

So, C-suite leaders, it’s time to take action. Don’t wait for the exit interview to discover why your best talent is leaving. Start using stay interviews to retain your top performers, meet their unmet needs, and create a workplace they want to stay in.

Ready to transform your retention strategy? Let’s discuss how proactive leadership can turn your company culture into a competitive advantage. DM me to schedule a free strategy session!

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