Alternate: Stay Interviews: A Mechanism for Improving Employee Retention

In today's dynamic job market, organizations face challenges in retaining top talent and maintaining a strong workforce. Stay interviews offer a valuable tool for addressing these challenges by engaging and understanding the needs of existing employees. Stay interviews are an emerging mechanism adopted by organizations to improve employee retention. Unlike exit interviews that focus on gathering feedback from departing employees, stay interviews aim to engage and retain existing employees by addressing their concerns, needs, and professional development. This presentation provides an overview of stay interviews as a proactive retention strategy, outlining their purpose, benefits, and best practices. SPR will share their methodology for executing a stay interview project, providing insights into their data collection and analysis processes. They will also showcase their PowerBI dashboard, demonstrating how it visualizes differences between employee populations, including DEI subsets. This in-depth analysis enables leadership to address specific concerns within different groups, make necessary enhancements, and generate ideas for future offerings. Gallup research reports that only about 25% of organizations are currently conducting stay interviews, which can reduce organizational turnover by up to 20%. Overall, stay interviews serve as a valuable tool for enhancing employee engagement, satisfaction, and long-term commitment, contributing to overall organizational success.