How to Conduct an Effective ‘Stay’ Interview

By Dennis McCafferty  |  Posted 04-02-2015 Email

Voluntary turnover among employees is now averaging more than 10 percent a year, and the cost of replacing a professional these days amounts to between six and nine months' worth of his or her salary, according to industry research. In other words, the stakes are high when it comes to retention. That's why CIOs and other managers are increasingly turning to what's called the "stay interview"–an opportunity to sit down with valued team members and address any concerns which could cause them to leave. In the recent book, The Stay Interview: A Manager's Guide to Keeping the Best and Brightest (Amacom/available now), author Richard P. Finnegan presents a thorough guide to conducting this kind of conversation. There are a wide range of issues which could trigger resignations, after all, so managers must prepare to respond to anything. With this in mind, the following examples of effective stay interview questions and solutions have been adapted from the book. Finnegan is CEO of C-Suite Analytics, a consultancy specializing in engagement and retention solutions.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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