I have heard that once you are having an affair, it’s too late to save the marriage. I don’t know about this personally, but it makes sense.
Likewise, once an employee is actively looking for a new job, it’s hard to get him or her to remain in the existing position. One way to solve this dilemma is to conduct “Stay Interviews” every year in your organization. It can be done separately from the performance appraisal. If possible, about 6 months after the appraisal.
A Stay Interview is exactly what it sounds like. It’s an interview to ask current employees at all levels what it would take to make sure they stay.
Stay Interviews are conducted to help managers understand why some employees stay and what factors might cause others to leave. Employee turnover is costly for organizations.
In an effective Stay Interview, managers ask standard, structured questions in a casual and conversational manner. Most Stay Interviews take less than half an hour.
Click here to find a sample Stay Interview. Please modify it to fit your organization’s needs.
One word of caution: If your organization gathers this information, but doesn’t make significant changes recommended by the employees, the best employees will leave to find an organization that will value their expertise and listen to their needs.