By | Jennifer Liu | www.cnbc.com
Businesses are on a hiring spree during the Great Resignation of 2021, with many throwing out signing bonuses, lowering their standard qualifications, tapping boomerang employees and taking a harder look at their “enthusiastic stayers.”
As retention efforts heat up, you’ll probably hear more about the “stay interview.”
Think of it as the opposite of an exit interview: Instead of asking why an employee is quitting, a stay interview focuses on what motivates the employee to stick around, what could be better about their work experience and how they envision the next stage of their career within the organization.
Stay interviews aren’t new but are coming up more often as employers dial up retention efforts during record turnover, says Georgetown management professor Brooks Holtom. They might also crop up now as we head into year-end review season.
He tells CNBC Make It that managers should approach the conversation with their employees as: Help me understand how you’re doing, what your goals are, and what we can do in the new year to make sure you’re thriving and staying enthusiastically.
Here’s how managers can use the stay interview to support and retain star employees.