With tech talent in short supply, can you really afford to lose your A players? Replacing staff is a job that you could do without. Not only are there very few active candidates currently seeking new roles, but the costs of recruiting are also enormous. Advertising, interviewing, onboarding, and training all require valuable resources, people power, and money…all commodities you can’t afford to waste on an avoidable task.
Of course, some employees are going to move on in search of new skills and professional challenges. But many of your leavers will be individuals who are simply unhappy.
Retention interviews may help you identify and address any issues before they result in resignations. Your current employees are your best resource. They already possess the knowledge and skills that make them highly valuable. It is far better to retain these individuals than to try to replace them.
Retention interviews.
Current research data suggests that many workers feel undervalued and underpaid. Of those who said they’d be seeking a new job within the next 6 months, as many as 54% cited a salary boost as the top motivation for their decision. A further 41% said they don’t feel they have a clear path for advancement at their company.
Are you looking for ways to support employee development in the tech sector? Follow the link to read our guidance.
Retention interviews can be a useful tool to address such needs and wants of your current team. Not only will you save yourself time, money, and resources, but it also sends a very clear message to your team; that they are valued and that their input matters to you and the business. To ask them their opinion and then make reasonable changes based on their feedback will ensure that they know they are a priority.
Retention Interviews. Tips for success.
Use these tips to help you plan and execute a successful retention interview.
1. Meet with each team member separately.
Give each person your undivided attention. One on one meetings have been shown to garner more honest feedback.
2. Avoid back-to-back scheduling.
The value of the retention interview will be lost if your team feel as though they are being pushed out the door or are left waiting outside for another to finish.
Honesty has been shown to increase toward the end of conversations. If it must end rather than coming to a natural conclusion, you may lose what the employee really wants to say.
Schedule the meetings with a time buffer on either side of the appointment so that nobody is rushed in or out of the room.
3. Notify staff and give them time to prepare.
Let the team know the points you’d like to get feedback on and allow them time to prepare. Be sure to leave a section at the end for AOB. This way, employees will know they will be given an opportunity to talk about what matters to them.
4. Prepare yourself.
When conducting retention interviews you must be prepared to hear things you may struggle with. These may be upsetting or surprising, but it’s important that you remain calm. A defensive response won’t create an environment which fosters honesty.
5. Create the right environment.
Retention interviews should be held in a space that is quiet and without interruptions. Make sure your phone is off and that you give the employee your undivided attention.
Some retention interview question ideas.
If you feel like you would like to introduce retention interviews into your working practice, why not think about adapting these questions to suit your business and industry?
- What do you most look forward to when you arrive at work each day?
- What do you think could be improved about your role / the office space / the organisation / the policies?
- What would make your job more satisfying or rewarding?
- Do you think you are given enough opportunities to learn or be coached?
- Could we do more to support your professional development?
- How long do you see yourself in this role?
- What may tempt you away from this role?
- What have we not spoken about today that we should address as a priority?
- What would be the one thing you’d change about the company?
Don’t be afraid to probe and encourage a more detailed response. Let the employee know that this retention interview is a safe place for them to air their concerns.
Are you an employer or hiring manager looking for interview tips?
Why not try our recent article on Exit Interviews?
Head to the Employer Advice section of our blog for masses more on this and other issues affecting the hiring landscape right now.