targeting turnover: how to use stay interviews to dramatically cut turnover costs
TRANSCRIPT
TARGETING
TURNOVERHow to Use Stay Interviews to Dramatically Cut Turnover
Costs
TalentTakeawayswebinar & podcast series
AGENDAThe Series
TalentTakeawayswebinar & podcast series
Targeting Turnover | Talent Takeaways Series
AGENDAPresented By
Brian SharpChief Marketing Officer, HRsoft
Targeting Turnover | Talent Takeaways Series
AGENDAAgenda
Targeting Turnover | Talent Takeaways Series
Today we will cover… The cost of turnover
Retention Strategies
Stay Interview Structure
Best Practices
Tips to Get Started
AGENDAThe Retention Problem
Targeting Turnover | Talent Takeaways Series
AGENDAThe Retention Problem
Targeting Turnover | Talent Takeaways Series
Do you know what your turnover
costs are?
AGENDAThe Retention Runaround
Right Intentions. Wrong Tools.
Engagement Surveys
Performance Reviews
Exit Surveys
Targeting Turnover | Talent Takeaways Series
AGENDARethinking Retention
Retention is Built Upon Relationships.Targeting Turnover | Talent Takeaways Series
AGENDAThe Solution: Stay Interviews
What is a Stay Interview?A periodic, structured 1 on 1 conversation between a manager and their direct report that identifies and reinforces the factors that drive retention for that individual employee.
5 structured, strategic questions Approximately 20 minutes in length Optional Stay Plan for action items Manager retention forecasting
Targeting Turnover | Talent Takeaways Series
AGENDASimplifying Stay Interviews
Targeting Turnover | Talent Takeaways Series
AGENDAStay Interview Secret
Why do they work?A one on one approach the cultivate meaningful conversations that:
Build trust & relationships Identify reasons for retention and/or for turnover risk Provide actionable data for management
Targeting Turnover | Talent Takeaways Series
AGENDAStay Interviews
Stay Interview Best Practices 90 days after new hire. 1-2 per year after. 20 minute sessions Conducted by direct manager 5 questions (ask probing questions - listen & take notes) 2-3 action items for follow up at most
Targeting Turnover | Talent Takeaways Series
AGENDAStay Interview Questions
5 Key Stay Interview Questions
1. When you travel to work each day, what things do you look forward to?
2. What are you learning here?
3. Why do you stay here?
4. When was the last time you thought about leaving your team? What prompted it?
5. What can I do to make your work experience better?
Targeting Turnover | Talent Takeaways Series
AGENDAStay Interview Program
Targeting Turnover | Talent Takeaways Series
5 Keys to a Successful Stay Interview Program1. Clearly defined retention goals2. Method for tracking data & retention results 3. Consistent, prescriptive process4. Employee & manager accountability 5. Manager tools & training
AGENDAStarting Stay Interviews
3 Steps to Getting Started Fast
1. Start Strategically – select a key group of employees, a trusted manager or your own team.
2. Start Smart – make sure your managers have the tools and training needed to do effective stay interviews.
3. Start Small – pilot with one team, one location or department.
Targeting Turnover | Talent Takeaways Series
AGENDAFree Retention Resources
Targeting Turnover | Talent Takeaways Series
AGENDASTAYview ™ OnlineSubscription based model of our award-winning stay interview software.
Built for any sized team (1 manager or more) Simplified pricing (monthly subscription) Simple setup (plug & play) Easy to scale (start small and add more teams anytime)
Targeting Turnover | Talent Takeaways Series
AGENDASpecial Offer
Sign Up Today & Receive:
Special Discount Free Setup & Support Free 30 Day Trial
90 Day Money Back Guarantee
StayviewOnline.comSpecial offer for webinar attendees
Targeting Turnover | Talent Takeaways Series
TARGETING
TURNOVERHow to Use Stay Interviews to Dramatically Cut Turnover
Costs
TalentTakeawayswebinar & podcast series