Exit Interview VS Stay Interview

Exit interviews are a way to communicate with people who are looking forward to shedding their responsibilities on one side. On the other side, a stay interview is an interview between a manager and an employee that's designed to learn what keeps employees working for an organization and aspects of need improvement. But on either side, it is always seen as a formality interview done to the people.

So, how important is it to conduct a stay interview than an exit interview?

In a traditional exit interview, HR team members gather some data from the employee to look upon the reason or the motive to leave the organization. In case of a small and middle-sized company, the separation matters a lot and the human resource professionals get the data through a complete survey of gathering the employee’s thoughts, discuss the journey, get to know their hidden reasons sometimes. In quite larger companies the data is historical and managers just aren’t interested.

The exit interview focuses attention on the concerns and thoughts of employees that have chosen to leave the organization, or those that you have decided should get separated.

• Why are these data important?
• Why is it too important to keep an eye on your current employees rather than the people who have already decided to leave your organisation?

The core idea of it is to pick up the reason,

• Why these people who are active performers all the time prefer to leave the organisation?
• What is the false point we have that let us accept an offer that is better than ours?

Not all the time, people prefer monetary benefits than satisfaction in the job!

What is a Stay Interview?

Exit interviews are relatively common. While they can extract essential information, they also come too late to retain valuable employees.

Stay interviews are the chosen way to handle people because you hear out the justification for continuing their role from current employees. At the exit interview, it’s too late to identify and solve the problems for the existing employee.

The result of a stay interview provides you with a clear picture of what the organization can improvise and how you can value the employees. The stay interview also helps you in identifying the hope and belief of the employees working at the organisation.

Stay Interview forms:

Stay interview is an essential tool to gather information. A planned stay interview can bury good old ideas, explore a brand new way of doing the old thing. It also fixes dismantled processes and evolves changes in doing things according to the thoughts of the employees.

Stay interviews take on a variety of forms. It can be a survey that collects data from the employees and specifically for the questions we set to ask, one-on-one meetings with individuals or a group of people can make us understand the queries they have in mind. It can be very interesting to invite a random group of employees to have lunch, BRB’s or even breakfast and have them talk about what they like and what they would like to change. This allows employees to ask questions, speak openly and form a connection that may build a bridge to an issue that arises in the future.

But at the end of the stay interviews, one solution may not fit all, and it is important to find the right solution for your needs.

Finally:

If there is a problem with getting synced up then definitely the employee is going to move to a different opportunity. It is not only a problem, it’s an issue. When an employee who has shed his/her entire life in making money for you through different kinds of projects is not satisfactorily happy, then there is no meaning in staying in the company for a very long time. The key lies in identifying the satisfactory point for every individual of the organisation and the management must do so. Feeling like a valued part of the team that is contributing to the business’s success is often what employees are looking for today. Open communication from people is key and a stay interview can be an effective way to connect.

Hope you would have got the idea of effective communication through a stay interview and it is always a way to retain people rather than conducting an exit interview after the employee is ready to leave the organization. For further queries on how Skcript tackles this beautifully, you can email to [email protected].

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