Streamline your Exit Interviews, Forgo Farewell Get-togethers
In the wake of the ongoing Great Resignation, a mass exodus of workers from their jobs, organizations are scrambling to find ways to hold onto their workforce. One suggested addition to their strategies and tactics is the stay interview, a proactive conversation between managers and employees aimed at understanding what motivates the employee to stay with the company, addressing any concerns, and identifying opportunities to improve their work experience.
According to the U.S. Bureau of Labor Statistics, 5.9 million Americans quit their jobs in December 2021, a trend that remained high for the months prior. The stay interview, however, is not discussed in relation to any specific industry or sector.
Stay interviews can be powerful because they go beyond transactional interactions and create real rapport and empathy. When employees feel "seen, supported, and free to grow," they are more likely to remain committed and less likely to leave in a challenging labor market. They capture qualitative insights that exit interviews miss and inform timely actions to improve engagement, balance, and growth opportunities—all essential in today's hybrid and shifting workforce landscape.
By providing ongoing, meaningful check-ins that reveal employees’ needs and concerns before dissatisfaction leads to departure, stay interviews help reduce turnover. They also build trust and respect through authentic dialogue that fosters a culture of recognition and belonging. Furthermore, they support management’s ability to tailor retention strategies, such as flexibility or career development, aligned with individual employee priorities.
While success depends on leaders conducting these conversations genuinely and acting on the insights gained, the consensus among experts highlights stay interviews as a critical part of a human-first retention strategy during this period. However, it's important to note that the stay interview is not presented as a guaranteed solution for the challenges posed by the Great Resignation, but rather a potential tactic for individuals, teams, and organizations to consider in their efforts to retain employees.
As of the end of 2021, there were 10.9 million open jobs in the U.S., indicating a challenging labor market. However, treating employees as whole people with evolving needs is crucial to retain top talent amid these widespread labor market changes.
This article is part of a series exploring tactical thoughts and actions from a network of high-level experts, as indicated by the Columnist Network label.
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Employees who feel supported and have opportunities for self-development and career growth are less likely to leave a company in a challenging labor market, making education-and-self-development and career-development crucial elements of a human-first retention strategy during the Great Resignation. Stay interviews, which build trust and respect through authentic dialogue, provide managers with valuable insights to tailor retention strategies that address the evolving needs of their workforce and ultimately contribute to lifestyle satisfaction.
