The three Stay Interview questions every leader must ask

The Great Resignation is already a one trillion dollar problem in the United States. We’ve heard from many visitors about the shock they discover when they run their own Great Resignation calculation using our free salary calculator.

Even before the Great Resignation began to take shape voluntary turnover occurred. People will quit their jobs long after this mass exodus trend slows. The point isn’t to focus on it after they leave your company (although if that’s happening we can help), it’s to prevent it from happening in the first place.

Stay interviews are key to retaining top talent.

A stay interview is a conversation leaders have with their top employees with the goal of discovering what they like about their role, and what they would like to change. Stay interviews are an opportunity to discover what motivates that employee and to also build trust with them.

Fifty-two percent of voluntarily exiting employees say their manager or organization could have done something to prevent them from leaving their job. Over half of exiting employees (51%) say that in the three months before they left, neither their manager nor any other leader spoke with them about their job satisfaction or future with the organization.

The three key questions to ask during a Stay Interview.

Begin by inviting your team member to a thirty-minute meeting to catch up. Calm them by letting them know there is nothing to prepare for the meeting. Make them feel as comfortable by letting them know you have a few quick questions to ask to help you improve your performance as a leader.

Be sure to take notes during the meeting because it’s paramount that you act upon what you discover.

Question 1. What do you like least about working here?

Question 2. What do you like most about working here? What keeps you here?

Question 3. What might tempt you to leave?

The third question is the most difficult to ask but it’s a must-ask question because it shows you care enough to ask them. At the end of the Stay Interview ask them to please promise you that they will speak with you before they ever decide to leave.

After the interview, block time on your calendar to refer back to your notes to add action items for you to implement. Set your own reminders to be sure to make the changes possible based on the answers to your questions.

Noting that you listened and did something will earn the respect and trust of your top talent. You will also greatly improve the chances of volunteer turnover. Stay interviews are ideal to help you get the feedback you need and to hear your team, which is just one of the tiers of the Nice Method framework.