How Can Retention Interviews Help Your Business?

One of the most important parts of running a successful business is keeping productivity high and turnover low. To do this, you have to provide a positive work environment for your employees, and retention interviews are a big help in that process. Find out more about the benefits of holding a retention interview with your employees.

Identifying Benefits

There are a few different steps to conducting a stay interview, but it starts with working to identify the good and bad aspects of working for your business. To start, you can figure out what it is a particular employee likes about your company; why they might stay, essentially. This lets you know what you’re already doing well but perhaps can focus on a bit more to keep your employees happy. It also gives you a good idea of where an employee’s values lie. By figuring out what makes them stick with your company, you can better understand what they want out of work.

Identifying Problems

While it’s helpful to identify the things you’re doing well and work to highlight those a bit more, it’s just as important (if not more) to find out what you’re employees don’t like about working for you. If there’s a problem which multiple employees cite as a possible reason for leaving, you need to take care of that as soon as possible to prevent turnover. Again, this will also give you a chance to figure out what makes your employees tick. Based on their complaints, you can better understand their values as it pertains to work.

Forecasting and Planning

Once you’ve spoken with your employees and figured out what they do and don’t like about their job, you can put that information to use. Forecasting is particularly helpful because it allows you to make an educated guess on how long an employee will be with the company. If an employee doesn’t seem likely to leave any time soon, that’s a big benefit to your business.

In addition to this, forecasting also helps you plan for the future. While some employees might be satisfied with their job, others may be closer to leaving. Conducting a retention interview can help you understand the reasons behind an employee potentially leaving and figure out ways to prevent that from happening.

As a manager or business owner, you know how important it is to keep employees happy and sticking around. Retention interviews are a great way to find out more about how your employees feel and act accordingly. If done right, they’re an excellent tool for keeping employees satisfied.

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