It's worth having a stay interview quarterly or twice a year if you can. Why not see if you can substitute stay interviews today for an exit interview down the line?
Retaining Good Employees
Home Business and Economy Retaining Good Employees
“Retaining Good Employees frequently Asked Questions in various Retaining Good Employees job Interviews by interviewer. The set of questions here ensures that you offer a perfect answer posed to you. So get preparation for your new job hunting”
37 Retaining Good Employees Questions And Answers
Let employees know what's realistic, and think about the next steps together. Appropriate expectation setting is critical to retention. Develop a plan, which should be more than a discussion. You don't need to create the plan, but you should participate in shaping it.
If an employee is getting married, having a baby, or sending a kid to college, you should know about it. I'm not advocating becoming friends with the people you manage. But you should be interested in their lives and know what's going on. I loved managers who were interested in me. Also, what better way to appreciate your top performers than by knowing about their lives and finding opportunities (if you're lucky) to contribute to them?
The best way to find out what your employees want and how to retain them is to ask them.Ask questions to gauge how you're meeting your employees' expectations. Not just "How's it going?", but specific questions to get specific answers. Some questions to ask: How are things going? What makes you stay? What would make you stay longer? How can I help you with your professional goals? Are there new things you'd like to try? Are there things I can do better, as your manager? Are there things you aren't getting out of this job that you'd like to get out of the job? What do you love doing? What would you like to be doing more of?By the way, the only way this works is if you're committed not only to asking the questions but also to listening to the answers and responding to them with more than words. If you can't do that, it's probably better to skip the stay interviews.
5⟩ How would you establish clear performance metrics and make employees accountable for delivering for retaining good employees?
Establish well defined metrics for evaluating an employee's contribution to achieving business goals. Expect and demand good work. Review performance versus those metrics on a regular basis. Acknowledge good work when it is delivered. Discuss work that missed the mark and jointly determine how to avoid a repeat performance in the next round.
6⟩ How would you leverage performance reviews to gain insights into employee's goals and aspirations for retaining good employees?
As your company grows and matures and more infrastructure is formalized, performance reviews can be opportunities to discuss employee's career goals and obtain input for creating stretch opportunities for them both within their current roles and in new roles.
7⟩ What are the ideas to help your organization to develop managers who support for retaining good employees?
These ideas will help your organization develop managers who believe in and act in ways that support employee retention.
★ Integrate core values about people and a mission and vision that enable people to align themselves with the company direction. Communicate the importance of these and clear expectations about the behaviors expected from managers to accomplish these, to every manager.
★ Negotiate a performance development plan with each manager that stresses the expected managerial areas of development.
★ Provide training in core management skills to every manager. Core management skills include how to:
★ Integrate performance management including goal setting.
★ Give and receive feedback.
★ Recognize and value employees.
★ Coach employee performance.
★ Handle employee complaints and problems.
★ Provide a motivating work environment.
★ Hold career development discussions with employees.
★ Hold regular meetings to provide management development coaching and feedback. You can assist managers to improve their management style and skills. A regular meeting helps you debrief events as they occur, while memories of the exchanges are fresh in the manager's mind.
★ Schedule and hold learning organization events such as book clubs, product training, project debriefs and discussion and planning meetings.
★ Provide funding for conferences and educational development opportunities for managers to continue learning.
Employee complaints about managers and supervisors center on these areas. Employees leave managers who fail to:
★ provide clarity about expectations.
★ provide clarity about career development and earning potential.
★ give regular feedback about performance.
★ hold scheduled meetings.
★ provide a framework within which the employee perceives he can succeed.
Almost every manager can increase his/her ability to retain employees by developing his/her management skills. Teaching a manager about how to value people can be more challenging. Particularly if the manager does not already value people and their contributions in his/her mind and heart, it will be a leap for his/her to change his/her values.
You have to get compensation right, as best you can, all the time. These days, anyone good is going to get a raise to move and may be a signing bonus on top of that.
The thing is--you can't counter. It's too late by that point. Once they tell you they have another offer they're already out the door. A raise won't do it at this point, at least not for the good ones.
Try to balance giving your team members the authority, the tools and the space they need to do their jobs empowering them and staying checked-in as they execute their responsibilities. Be accessible for and open to, problem solving whether it is brainstorming next steps or fighting fires. And, be accessible personally taking a genuine interest in employees as individuals, as people.
One night I was at an event with a number of other CEO founders. One CEO told me the story of how he lost a top up-and-coming engineer, who was making a five-figure salary, to a real boring company that doubled her salary. That boring company had to. How else can a boring company steal a star engineer from a hot startup? The answer is: lots of money.
My point here is this seasoned engineer should not have had a five-figure salary, even if it made sense in a historical context (she had joined as a very junior person, consistent with prior salary). Pay market, or above, as soon as you can. It's a sign of respect. And most of the best ones won't ask. They'll just eventually get frustrated and leave.
You have to find a growth path for the great ones. The great ones will join your company to grow, to learn, to do new things. If they can't grow, they die a little every day. It's your job to understand the career path for all your key employees. And do whatever you can, within the boundaries of reality, to help them achieve it.
Determining the underlying causes for an employee's departure is vital to the success and evolution of every company, large or small. The exit interview is the most underrated yet efficient method in gathering this information, and it needs to be continued time and time again to build statistical information on an organization. Each organization is different than the one across the parking lot. Therefore, the more information gathered, the more informed senior management will be about strategic decisions down the road.
A big reason why employees leave ultimately boils down to poor people skills in management. An employer must ask, "Are my front-line leaders good with people?" Many managers were promoted to their position because they did their first job well, but that doesn't mean they know how to lead others in the position. When employees are asked for the top three favorable traits in their best boss, 90 percent are people-based skills.
Behavioral or personality conflicts with co-workers or supervisors are also common factors in leaving a job. Conflict with projects can be healthy, yet conflict between people styles can be deadly. Too often, people try to get their point across without understanding the other person's point of view. Thus, conflict arises on a regular basis. This can be addressed with training on how to adapt to different behavior styles.
Whether it's the first response or not, money is always a factor in leaving a job, and often with good reason. Are employers paying their employees fair market value in today's market? If so, money is a scapegoat answer because it's likely the person will not make significantly more in a new position. As an employer, resources can relay accurate and appropriate information. Managers must re-valuate their employee's salaries on a regular basis to stay competitive.
If a manager fails at employee retention, the chances are good that the manager has been unable or unwilling to develop their ability to manage and value people across the board. Managers who exhibit a pattern in which their key employees leave your organization cannot retain their management role.If you have fairly and ethically provided the manager the learning opportunities suggested here, you can, in good conscience, remove the individual from the managerial role. My experience has been that most managers consider this such a loss of prestige and face that they voluntarily leave the organization.
If they choose to stay, however, they must commit to being effective, contributing employees. If the manager cannot make this leap, you will need to let the manager go before their negativity impacts the rest of your workplace.
This could result in many answers - shorter commute, nicer office, etc. Regardless, the next question must be, "Why is this important to you?" Finally, the most important question gauges overall importance: "Which is more important, money or a shorter commute, nicer office, etc.