The Original SI5 and Why They Still Matter
One hundred percent of recent CEO surveys say CEOs’ greatest obstacle is about people…can’t find ‘em, can’t engage ‘em, can’t keep ‘em. The “can’t keep ‘em” problem has been increasing for the past eight years, whereas employee engagement has been stuck for nearly twenty years. One study says we are spending $1.5 billion each year to fix engagement, while the results would say we are flushing those dollars instead. These are not new problems, but they are screaming for new solutions.
The time is right, then, for Stay Interviews. The aforementioned $1.5 billion is likely devoted to surveys…in the form of employee surveys, engagement surveys, and exit surveys…which must now be called a failure. All acknowledge surveys provide data, and sometimes lots of it, but no evidence suggests these surveys provide solutions. The inherent belief that solutions come easy is chock-full of bad assumptions. The shallow good news is surveys provide data, but the deeper, bad news is surveys do not provide solutions.
What’s missing? Start with this little-known but most-powerful fact: The number one reason employees stay versus leave, and engage versus disengage, is how much they trust their boss. Now list the top three things your company has done to improve engagement and retention. Draw lines through any that are about pay, or benefits, not one-size-fits-all programs. Then if any solutions remain, ask yourself if they truly make your supervisors on every level better. In fact, go one step further and ask yourself if these solutions help your supervisors build trust.
Imagine that tomorrow your manager says to you, “I’d like to schedule a meeting to learn about you, to know specifically what I can do to make working here better for you.” The power of Stay Interviews starts here because employees know their boss holds only two types of meetings…to check if assigned work has been done and to assign new work. Until now.
This infographic from the Finnegan Institute walks you through the Stay Interview process. Each question has been heavily researched to yield the most important information regarding individual employee’s needs, wants, intentions to stay, obstacles to contributing more, and most importantly what actions each manager can take to build trust. The most critical answers stem from probes that follow each question, those open-ended follow-ups like “Tell me more about that”, “Can you give me an example?”, and “How important is that to you?”
Begin your journey to improved employee retention and stronger relationships. Contact the Finnegan Institute today at (844) RETAIN-U (738-2468) to learn how we can help you better connect with your employees.