Could regular ‘stay interviews’ reduce the frequency of ‘exit interviews’ within modern businesses?

We’ve all heard the post-pandemic buzz-phrases about recruitment; talk about the ‘great resignation’ often dominates the discussion. But companies often seem to neglect the underlying reasons for this shift in the recruitment landscape in favour of simply jumping back into the hiring process.

The general consensus amongst the modern workforce is that employers and employees alike must make better choices about mental health and wellbeing in the workplace. Surveys suggest that up to 48% of workers have experienced a mental health problem in their current role, and further data suggests that up to 12.7% of sick days can be attributed to mental health conditions.

This data alone is enough to open up a dialogue about the benefits of improving the culture of our workplaces. When coupled with suggestions that happier employees are up to 20% more productive and up to 83% of workers believe job satisfaction to be a better measure of success than salary, it becomes imperative that companies find a way to promote positive and happy workplaces to retain their staff.

So, how can a company achieve happier employees?

Many businesses are starting to learn about the benefits of regular ‘stay interviews’, in which employers can connect with their employees in a meaningful way to help facilitate a better working environment. Whereas traditional ‘exit interviews’ offer the chance for employers to learn from their mistakes, ‘stay interviews’ provide a much more proactive solution to help businesses avoid recurring problems within the workforce.

Not only does this allow team leaders and managers to better understand the internal issues of their staff, it helps to foster a sense of honesty and respect between employee and employer. Workers that feel respected within a company’s structure are far more likely to remain loyal to their employers. This reduces the likelihood of resignations and helps to prevent the need for additional recruitment in today’s difficult market.

Some employers may believe a ‘stay interview’ to be code for ‘convincing an employee to remain in their position’. But, in reality, this process is a much more involved conversation that looks to uncover the reasons why high-performing, long-term employees continue to achieve their goals. ‘Stay interviews’ should not be conducted when an employee is actively seeking new employment; they should be approached as a regular process in which team leaders can learn how to improve the workplace with the help of their workforce.

By its nature, a ‘stay interview’ can foster a sense of respect and trust between an employer and an employee. It reassures high-performing teams that their work does not go unnoticed. By conducting this informal and meaningful process on a regular basis, companies can reduce the need for recruitment by empowering the hard-working staff they currently have on their teams.

Stay interviews’ could represent the most effective way of reducing the need for ‘exit interviews’ and improve the culture of a workplace far beyond a reduction in the need for recruitment drives. If you would like to receive a guide for questions that you could ask in a stay interview, please get in touch.