A Stay Interview Reminder

Imagine this scenario. A boss calls a key employee in for a meeting and says, “I probably haven’t told you this often enough, but you are important to this team and to me. I can’t imagine losing you. I know we’ve been through a rough time lately, and I want you to know how much I appreciate all you’ve done and the way you’ve done it. I’d like you to know that I want you to hang in here. I’d also like to know what you want to do next. What do you want to learn? What career goals are you thinking about? What can I do to help you reach those goals? I’d like to know what will keep you here. And I’d like to know what could entice you away?”

How many employees have had a boss take that kind of proactive interest in them or exhibit that level of appreciation for them? The answer is, sadly, very few. Yet this type of interaction can make an employee feel important and valued. It’s ironic that many talent managers often find out what talented employees want as they exit the organization, especially if they could have offered or intended to provide those things.

Some talent managers don’t hold stay interviews because they fear they won’t be able to deliver on unexpected employee requests. That is particularly true during economic downturns, with their associated belt-tightening. But evading or avoiding these critical conversations often creates more problems. Managers who suspect they might not be able to deliver on employees’ requests can take four steps.

1.?????Tell employees how much they’re valued. For example, “You’re worth that to me and more.”

2.?????Tell the truth about obstacles – e.g., pay freezes, projects closing down.

3.?????Care enough to look into it. For instance, “I hear your request. Let me look into it, and let’s meet again next Friday to talk about possibilities.”

4.?????Ask, “What else?” Research shows clearly that people want more from work than just a paycheck. When managers ask the question “What else?” they will likely hear at least one thing that employees want that you can provide.

Listening Is Key

When talent leaders are bold enough to hold stay interviews with the keepers – people they hope will remain on the team and produce them and for the organization – two things happen. First, talented employees will feel great that their managers cared enough to ask. And second, managers will collect the information they need to take action and to customize engagement and retention efforts for each individual.

Responding Doesn’t Have to Be Hard

Beyond listening, managers need to respond, and what they say is critical. Responses such as “That’s unrealistic” will immediately halt the dialogue and might even cause employees to start a job search. Managers need to look for ways a request could work rather than immediately come up with reasons why it won’t.

Holding a stay interview is an exercise in sincerity. IT doesn’t need to be a scary or uncomfortable event because managers don’t need to have all the answers. It’s about brainstorming possibilities and creating a workable plan together. Nothing needs to be set in stone. Solutions or request responses can be experimented with, tried out, discarded or fine-tuned until they work.

A Perennial Job

Managers’ efforts to engage and retain talent should be perennial. They should hold stay interviews on a regular basis no matter what the economy, knowing that their caring and curiosity will pay off over time. People will not forget how they’ve been treated during tough times, and they will reward managers with their loyalty and a high level of discretionary effort.

Also, leaders at all levels need to stop guessing what will keep their stars engaged, productive and on the team. They will do well to gather their courage and conduct stay interviews with the employees they want to keep. Further, it’s important to stop guessing or assuming employees all want the same things, such as pay or promotion. And it’s vital that these leaders don’t wait to take action. The economy’s lights are flickering, and the scramble to find and keep top talent will resume sooner than one might think.