The Stay Interview Quick Start Plan - 5 Key Questions That Will Dramatically Improve Your Retention
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Last year in one of our most popular webinars ever, we revealed "The Stay Interview Secret". Now that people have heard and read about Stay Interviews, and the HR world is buzzing about them, the question we get is - how do we get started with Stay Interviews? Lucky for you we have invited the predominant Stay Interview expert and best-selling SHRM author, Dick Finnegan, back to show you how. Based upon his book, The Power of Stay Interviews (the best-selling book in SHRM history) you will learn the inside secrets being used by strategic HR departments to easily setup successful Stay Interview programs that are creating dramatic retention results. For the first time ever, Dick Finnegan will be sharing in a public webinar the “how-to” of Stay Interviews. This webinar will provide a quick start plan for the structure, strategies and the systems you need to easily start your own Stay Interview program today! We will also share successful case studies on how others are using Stay Interviews to cut turnover, and reveal helpful tips for managers from Dick’s upcoming book. In this content-packed webinar, you will learn: 1. The 5 best questions to ask in a Stay Interview 2. How to setup a successful Stay Plan 3. Easy ways to forecast and measure retention improvement 4. Tips for teaching managers how to become Stay Interview masters Don’t miss this limited opportunity to learn the structure and strategy behind successful Stay Interviews with Dick Finnegan. After the webinar, Dick will be taking your live questions to help get you started. Plus! Win a chance for a free Stay Interview manager training for your company!
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The Stay Interview Quick Start Plan - 5 Key Questions That Will Dramatically Improve Your Retention
- 1. The Stay Interview Quick Start Plan 5 Key Questions that will Dramatically Improve Your Retention
- 2. AGENDA Brian Sharp Chief Marketing Officer , HRsoft Dick Finnegan CEO, C-Suite Analytics Author, The Power of Stay Interviews Our Presenters The Stay Interview Quick Start Plan
- 3. AGENDAStay Interviews are here to stay! The Stay Interview Quick Start Plan
- 4. AGENDAThe Engagement Enigma The Stay Interview Quick Start Plan Understand the benefits. Know there is a problem. Spending time & money. Nothing is changing.
- 5. AGENDAPoll Question #1 The Stay Interview Quick Start Plan Understand the benefits. Know there is a problem. Spending time & money. Nothing is changing. Have your engagement scores significantly increased over the past 2 years? a. Yes b. No c. Not Sure
- 6. AGENDAThe Engagement Enigma The Stay Interview Quick Start Plan
- 7. AGENDAThe Engagement Enigma The Stay Interview Quick Start Plan Employee Turnover has been increasing over the last 5 years
- 8. AGENDAThe Engagement Enigma The Stay Interview Quick Start Plan U.S. companies are spending $1.53 Billion each year!
- 9. AGENDAThe Engagement Enigma The Stay Interview Quick Start Plan Right Intentions. Wrong Tools.
- 10. AGENDAThe Retention Tools The Stay Interview Quick Start Plan We must give managers a tool that is easy to use & employee focused
- 11. AGENDAThe Stay Interview Stay Interviews are 1-1 meetings between leaders and their newly-hired and continuing employees to improve engagement & retention Train all leaders from executives to first-line supervisors to… Build trust Conduct stay interviews Develop stay plans Forecast each employee’s individual retention The Stay Interview Quick Start Plan
- 12. 5 Key Stay Interview Questions The Stay Interview Quick Start Plan
- 13. AGENDAStay Interview Questions The Stay Interview Quick Start Plan #1 When you travel to work each day, what things do you look forward to? PROBING QUESTIONS What do you like most about working here? What parts are the most challenging? What do you like least about working here?
- 14. AGENDAStay Interview Questions The Stay Interview Quick Start Plan #2 What are you learning here? PROBING QUESTIONS Is there anything else you’d like to be learning here but are not? How do you learn best? By doing? By observing? By attending training? Do you feel like you can advance your career here if you want to?
- 15. AGENDAStay Interview Questions The Stay Interview Quick Start Plan #3 Why do you stay here? PROBING QUESTIONS Is that the only reason? How much does the type of work you do impact your decision to stay? How much do you stay because you like working with our customers? Our team?
- 16. AGENDAStay Interview Questions The Stay Interview Quick Start Plan #4 When was the last time you thought about leaving our team? What prompted it? PROBING QUESTIONS Does this still concern you? On a scale from one to ten with ten being “I’m staying for the foreseeable future” and one being, “I’m leaving ASAP,” how would you rate your intention to leave? What’s the single most meaningful action I could take to address this issue?
- 17. AGENDAStay Interview Questions The Stay Interview Quick Start Plan #5 What can I do to make your experience at work better for you? PROBING QUESTIONS What should I do more of? Less of? What do I do that frustrates you? Is there anything I do that strikes you as particularly unfair or unreasonable? Do you feel like I truly hear your concerns when you have them?
- 18. How to Setup a Successful Stay Plan The Stay Interview Quick Start Plan
- 19. AGENDAPoll Question #2 The Stay Interview Quick Start Plan Understand the benefits. Know there is a problem. Spending time & money. Nothing is changing. What is the #1 reason people leave their jobs? a. Pay b. Benefits c. Relationship with Manager d. Dislike the Work
- 20. AGENDAThe Power of Stay Plans The Stay Interview Quick Start Plan You never really know what makes people stay or leave.
- 21. AGENDA5 Key Components of a Stay Plan The Stay Interview Quick Start Plan 1. The objective for each initiative (no more than 3) 2. Actions you as the manager will take 3. Ideally, actions the employee will take 4. Dates for each, and in some cases multiple dates for multiple activities 5. Everything put in writing with copies given to you and the employee
- 22. AGENDAStay Plan Best Practices The Stay Interview Quick Start Plan Work best when built mutually by employee & manager Work best when customized for the employee Assignments should be for manager and employee Not everyone needs a stay plan
- 23. How to Forecast & Measure Retention Results The Stay Interview Quick Start Plan
- 24. AGENDAPoll Question #3 The Stay Interview Quick Start Plan Understand the benefits. Know there is a problem. Spending time & money. Nothing is changing. CHANGE Do you know what your employee turnover cost is? a. Yes b. No c. Not Sure
- 25. AGENDARetention Forecasting The Stay Interview Quick Start Plan Forecasting is critical for sales and finance… why not retention?
- 26. AGENDARetention Forecasting Groups The Stay Interview Quick Start Plan More than 1 year 6-12 Months 0-6 Months Employee is likely to stay:
- 27. Retention Heat Map The Stay Interview Quick Start Plan Leader: Rodriguez Perf Rating/ 5 Hi, 1 Lo Green 1+ yrs Yellow 6-12 Months Red 0-6 Months Retention Plan Kim Johnson 4 Provide mentor for… Burt Brown 5 Develop skills for possible promotion to… Cindy Stone 3 Pleased with current role & circumstance Ralph Jimenez 2 Coaching for performance
- 28. Retention Heat Map The Stay Interview Quick Start Plan
- 29. Tips for Teaching Managers to Become Stay Interview Masters The Stay Interview Quick Start Plan
- 30. Stay Interview Manager Training The Stay Interview Quick Start Plan Probe Deeply. Solve Completely.
- 31. Stay Interview Manager Training The Stay Interview Quick Start Plan 4 Core Manager Skills 1. Listen 2. Take Notes 3. Probe 4. Support Company
- 32. Talent Takeaways The Stay Interview Quick Start Plan
- 33. AGENDATalent Takeaways The Stay Interview Quick Start Plan 1. Evaluate your current retention results & set new goals 2. Identify how you will measure & forecast 3. Create a system for your Stay Interview process 4. Start simple. Start small. Just start!
- 34. STAYview™ High Impact Stay Interview System™ HRsoft.com The Stay Interview Quick Start Plan
- 35. STAYview™ High Impact Stay Interview System™ The Stay Interview Quick Start Plan
- 36. Strategy Session HRsoft.com answer questions share resources offer solutions The Stay Interview Quick Start Plan
- 37. AGENDAPoll Question #4 The Stay Interview Quick Start Plan Understand the benefits. Know there is a problem. Spending time & money. Nothing is changing. Gallup’s 100 Year Commitment What brings happiness? a. Good health b. A good job c. Love & respect d. Money for needs & more e. Better life for your children
- 38. AGENDAGallup’s 100 Year Commitment The Stay Interview Quick Start Plan What brings happiness? a. Good health? b. A good job c. Love and respect from others? d. Money for needs and more? e. Better life for your children?
- 39. AGENDACommitment to Engagement & Retention The Stay Interview Quick Start Plan “Let’s get rid of managers from hell, double the number of great managers & engaged employees, and have those managers lead on what actually matters… The country’s employees will be twice as effective, they’ll create far more customers, companies will grow, spiraling healthcare costs will decrease, and desperately needed GDP will boom like never before.” Jim Clifton CEO, Gallup
- 40. The Stay Interview Quick Start Plan 5 Key Questions that will Dramatically Improve Your Retention
- 41. AGENDA Presented By The Stay Interview Quick Start Plan Brian Sharp Chief Marketing Officer Brian.Sharp@HRsoft.com /in/bsharponline @bsharponline | @hrsoft_inc
- 42. AGENDA Presented By The Stay Interview Quick Start Plan Dick Finnegan Chief Executive Officer DFinnegan@C-SuiteAnalytics.com pub/dick-finnegan/6/874/a71 @dick_finnegan
Notas do Editor
- - Many of you have heard Dick speak before or read his books - One on the left started the buzz. The one on the right was recently published in 20 languages This is not a fad, or engagement initiative of the month. These are here to stay. And will likely replace surveys! Have Dick tell the book publishing story: tell me how these books came to be.
- Benefits: improves sales, performance, productivity, profits, retention & morale
- Gallup survey
- -
- Spending: $1.53 Billion per year And yet engagement scores are flat and turnover costs are rising Throughout boom/bust economies, war, recession – nothing moves the needle.
- Doing a lot of things with the right ideas but we need to change the tools we are using Simply spending time and money in the wrong areas on the wrong people
- Focus needs to be on helping managers connect with their direct reports on a personal level
- Tool we are talking about today is STAYview Bring in Dick
- Through years of research and practical application with clients around the world. These are the 5 carefully structured questions that Dick and his team have identified that you need for an effective Stay Interview. It’s not just the questions, it’s the approach.
- What kind of responses do you see from this?
- This is not as much about an employee development plan as it is aligning them better with the organization, right?
- Is this the most important question?
- Seems like a tough/scary question to ask
- Powerful.
- - the secret to the stay interview is what happens after - The stay plan.
- How do you keep the manager from feeling overwhelmed Examples of some common actions?
- What are some outcomes/benefits of these stay plans? How have you seen them help the engagement process?
- We wanted to include this because it’s so critical to measure One of the issues with other engagement/retention tools is that is not an accurate way to measure results With stay interviews you can, but as you always say – you need to know your numbers!
- The biggest, most important, and probably most surprising number is your turnover cost. So let’s start here.
- I never thought about it this way until you brought it up. This is a trend starting to include turnover forecasting
- If you were to imagine in your head right now what your heatmap would look like, how does that make you feel Quite surprising when people see this for the first time after the first round of stay interviews, right?
- More customized version from STAYview
- Managers are the catalyst, not HR Now we have to transfer your knowledge to them to execute
- If it boiled down to one thing, it would be this.
- 4 main skills we must teach Have to break old habits: this is not a performance review
- for those that don’t want to reinvent the wheel, we’ve done the hard part With Dick, we have developed the first complete Stay Interview System Everything you need to quickly & easily implement
- Here are some examples from ideas we shared today Going to have a demo next week for those interested (watch email) Thursday, March 5th @ 1pm ET
- Offer for strategy session Smaller companies or DIY: Connect with Dick for consulting