Employee Retention & Stay Interviews - HR Toolkit & Policy Requirements To Boost Retention In 2024

A recent study reported that 86% of employees plan to pursue new jobs and employee turnover is on the rise and is expected to continue to worsen over time. In addition, over 60% of companies report having difficulty recruiting key talent. Most companies see retention as a key strategic imperative but less than half have a specific retention plan. Unfortunately most retention efforts are overly general, are expensive, and have little positive impact on turnover. Stay/retention interviews offer a specific, targeted, and effective solution to the turnover problem. Rather than throwing money at the problem this tactic gets at the source of the retention issues by determining why each employee is likely to stay or leave and then develops an effective plan to retain valuable employees. 

This webinar provides specific and useable tools for conducting stay interviews in your company. The core of the toolkit is actual interview questions in ten key areas. This process leads to a plan of action that increases the probability of retaining valuable employees. The Retention Toolkit gets at the source of the problem and allows managers and employees to work collaboratively to create realistic plan of action. The pressing issue is that avoidable employee turnover costs companies billions and that retention interviews offer a viable solution for managing turnover risk.

The following topics will be discussed in detail during this session: 

• Creating a system for tracking retention in relation to risk of leaving and employee performance
• Understand the real cost of turnover & why employees stay and why they leave
• Detailed assessment of the cycle of a retention plan and the important metrics to measure 
• Comprehending the link between employee satisfaction, motivation, and engagement and how it relates to stay interviews
• Why retention interviews are vastly superior to exit interviews
• How to hold managers accountable for retention
• 5 essential communication steps in the interview process
• Understand the process of using the retention interview toolkit
• Learn how to set the stage for an effective interview and actually conduct the retention interview
• Learn the a specific process for conducting interviews
• Receive questions linked to the 10 essential retention factors
• Receive a toolkit for actually conducting stay interviews

Participants will receive a toolkit for actually conducting stay interviews. The toolkit will contain:

• Supervisor’s pre-interview form to set the stage for the interview
• Staff retention interview questionnaire
• Retention Interview Form with specific questions in 10 key areas including an individualized retention plan for each employee
• Retention tracking form

Speaker Profile - Bob Verchota is owner and senior consultant for RPVerchota & Associates, a consulting firm providing services to clients who seek to align their business and employees, creating successful outcomes and excellent work environments. After 30+ years in Human Resources senior leadership roles and teaching both undergraduate and graduate courses in Leadership and Organizational Development, Bob transitioned to using his experience and skills in consulting. Mr. Verchota provides solutions to companies for a wide variety of HR issues including training and development, compensation, compliance, policy development, performance management, employee relations and managing change from mergers and acquisitions to project specific disruptions of the status quo. Bob has an undergraduate degree in Business Administration, graduate degree in Healthcare Administration, and doctoral work (ABD) in Organizational Development. He is a lifetime Senior Professional in Human Resources.