There is a strong business case for retaining your talent because:
Turnover is rampant
- Most resignations ever in the U.S. in April 2021
- 4% unemployment rate - 2.2% for college grads
- 63% of employees say it is likely they can find a job as good as the one they have
- 51% of employees & 60% of millennials are considering new employment opportunities
- The average tenure for employees in their 20s is less than 18 months
Turnover is expensive
- 16% of salary for jobs under $30,000 - replacing a $ 10-hour employee costs $3,328
- 20% of salary for $30-50,000 jobs - replacing a $40,000 employee costs $8,000
- Up to 213% of salary for management positions; replacing a $100,000 employee can cost $200,000
And your most talented employees:
- Are more likely to be recruited with more opportunities available to them
- Are the most expensive to replace
- May take top performers and/or customers with them
Managers account for 70% of the variance in employee engagement & retention with:
- 65% of employees leaving their boss – not their job
- Because of poor managers, productive employees leave organizations even when satisfied with the pay & perks
- The prism through which employees see their organization is their view of their manager
- Managers are the best resource for improving retention & engagement
The most important thing a manager can do is build trust with his/her direct reports. Employees who trust their managers stay & give their best. And stay interviews build trust because they:
- Re-recruit talent by understanding why employees stay or might leave
- Make employees feel valued while improving engagement, productivity & retention
- Reinforce good relationships between managers & employees, forge new ones & help repair those that are strained
- Identify employees’ needs & how those needs can best be met creating better employee experiences
- Prevent exit interviews.
AREA COVERED
The Objectives of Stay Interviews
What Stay Interviews Are
What Stay Interviews Are Not
Steps in Initiating a Stay Interview Program
Conducting Stay Interviews
- Frequency & length
- Techniques & skills
- Core stay interview questions
- Sample potential issues & related probes of employees
- Closing a stay interview
Following Through on Your Stay Interviews
- Components of a stay interview action plan
- Stay interview cautions
- The three-step process for retaining employees.
WHO WILL BENEFIT?
Anyone with leadership, management, or supervisory responsibility.
The Objectives of Stay Interviews
What Stay Interviews Are
What Stay Interviews Are Not
Steps in Initiating a Stay Interview Program
Conducting Stay Interviews
- Frequency & length
- Techniques & skills
- Core stay interview questions
- Sample potential issues & related probes of employees
- Closing a stay interview
Following Through on Your Stay Interviews
- Components of a stay interview action plan
- Stay interview cautions
- The three-step process for retaining employees.
Anyone with leadership, management, or supervisory responsibility.
Speaker Profile
Pete Tosh is the Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:Implementing Strategic HR InitiativesMaximizing Leadership EffectivenessStrategic PlanningEnhancing Customer LoyaltyThe Focus Group has provided these consulting and training services to manufacturing and service organizations across the U.S., Canada, Europe, and the Middle East. Pete has worked closely with the leadership teams of organizations such as Exxon, Brinks, EMC, State Farm, Marriott, N.C.I. YKK and Freddie Mac Pete holds a B.A. degree in Psychology from Emory and Henry University and Masters degrees in both Business Administration and …
Upcoming Webinars
How to Write Contracts for Procurement Professionals
Sunshine Act Reporting - Clarification for Clinical Research
How to Deal with Employees Who Love to Argue and Debate Eve…
Project Management for administrative professionals
ChatGPT and Project Management: Leveraging AI for Project M…
Onboarding Best Practices for 2025: Proven Strategies to Po…
Terminating Toxicity: Strategies For Leaders To Confidently…
Transform Data into Insights: A Beginners Guide to Excel Pi…
Reprogramming your mind for Corporate Excellence: 4 Steps t…
How to Write Effective Audit Observations: The Principles f…
How to Manage the Legal Landmine of the FMLA, ADA and Worke…
Uplifting the Credibility of HR: How to Build the Credibili…
Performance of Root Cause Analysis, CAPA, and Effectiveness…
Bridging Generational Divides in the Workplace
Strategic Interviewing & Selection: Getting the Right Talen…
Onboarding Best Practices for Millennial and All Employees
2-Hour Virtual Seminar on How to Conduct an Internal Harass…
FDA Audit Best Practices - Do's and Don'ts
Emotional Intelligence: Mastering the Emotions of Great Lea…
Unlock Employee Loyalty: Stay Interviews Will Keep Them Eng…
Accounting For Non Accountants : Debit, Credits And Financi…
Successful Strategies for FDA Expedited Pathways for Your D…
Regulation update Q1 2025: New and Proposed Regulations for…
Pay Transparency in Action: Strategies for Building Trust a…
Designing Employee Experiences to Build a Culture of Compli…
Developing and Implementing Quality Culture in the Organiza…
Excel Lookup Functions: VLOOKUP, HLOOKUP, and XLOOKUP Made …
Break Free from Toxicity: Reclaim Your Power and Peace
Tips and Techniques for Conducting an Effective Fraud Risk …
Physician Employment Agreements: Problem Areas that can be …
Measure the Effectiveness of Compliance Programs by Engagin…
FDA Regulation of Artificial Intelligence/ Machine Learning
Navigating 2025 Employment Laws: What Every Employer Needs …
Implementing an Effective Human Error Reduction Program
Cleaning Data without Complex Functions - A Course for Data…
Succession Plan for 2025: It's Not Just for Emergencies - I…
Employers Should Prepare for Immigration Raids in 2025! Thi…
Managing Toxic Employees: Strategies For Leaders To Effecti…
Using High-Performance Coaching for Managers to Address Per…
6-Hour Virtual Seminar on Learning the Highlights of Excel …
Principles & Practices for the Cybersecurity of Legacy Medi…