As an executive coach, I have observed the rise and fall of many leaders over the years. One thing I can say with certainty is that good leaders show interest in their employees’ jobs and career goals. They take the time to learn about each person’s interests and aspirations to identify what motivates them.

While promotions, salary raises and other benefits are nice, studies suggest that what employees truly need is to feel valued. One effective way to show employees that they are valued is by conducting stay interviews. These one-on-one conversations can help managers learn more about their team members and demonstrate their commitment to their professional development and success.

Out With the Old

We’ve all heard of an exit interview. As a former HR executive, I’m not a big fan of traditional exit interviews. If you conduct them now for your department, you can continue to do so as a formality to try to dig up negative information that can be used to improve things like culture, leadership and benefits.

However, research states that what is shared in the exit interview is seldom used to improve the organization. Departing employees are catching on to this, and so they don’t divulge since they know it’s a wasted effort.

The bigger truth is that exit interviews don’t really benefit the departing employee, so you don’t get the full picture. The other reason exit interviews don’t work effectively is that people don’t trust that that they are 100 percent confidential because, many times, they aren’t. So, rather than exit interviews, the better solution is to conduct stay interviews—especially with those “at risk to leave” employees who may be updating their resumes.

In With the New

Stay interviews produce data so effective at predicting and reducing employee turnover rates that scores of companies have abandoned their annual performance evaluations and the annual employee opinion survey.

Like the exit interview, you’re getting fresh knowledge and insight about what you can do to improve and retain those valued employees—today, not after they have emotionally disconnected and stopped caring about doing their jobs.

The stay interview builds trust in leaders because you’re basically telling your valued team member, “I’d like to get a feel for what’s working and not working for you.” Think about it—what employee doesn’t want this?

Stay interviews will undoubtedly increase a manager’s capacity to lead well, and when conducted the right way, I can guarantee their effectiveness over the long haul.

Let’s talk about how to structure one. The stay interview should be simple and informal—just you and your direct report. Nothing fancy. But it does require some level of transparency for the transaction to be effective. To have a really good stay interview, you have to ask the right questions. And then you have to do what so many managers don’t do well: get those active listening skills in motion.

5 Questions to Ask

These are the essential questions that you should ask your employees. (They are taken directly from our servant leadership course, “From Boss to Leader.”) You can definitely add your own questions depending on your knowledge of your employees and work environment.

1. What do you like about your job?

You’re asking this question to set a positive tone and assess your employees’ work. It helps you to clue in to what aspects of the job they enjoy the most and want to experience more.

2. Tell me about a good day of work you had recently. What does that look like?

You’re asking this question to dig into their memory so they can paint for you a clear and specific positive experience at work, what they enjoyed, and how it engaged them. The point here is to learn everything you can about replicating the experience so that every day looks more like that.

3. Is your job utilizing your skills and strengths to their fullest extent?

The answer to this question could reveal a range of emotions and attitudes from the employee. If the answer is “yes,” it suggests that the employee is engaged and content with their role. However, if the answer is “no,” there’s a chance that the employee has untapped skills or strengths that could be utilized better with training. Either way, it’s important to take note of the response so you can continue to improve the employee’s role and satisfaction.

4. In the next three to five years, where do you see yourself in your career?

This question taps into whether that person is invested in their future with your company. It’s a great temperature check for you, the manager, because if they express going a different direction, you will want to know why. It may mean that they do desire to stay at your company, but if nobody has cared enough to ask them about future goals and aspirations and the support they need to get there, they’ll begin to perceive that this is not the right place for them. One of the biggest hot buttons for young employees is being able to grow a career with a company. It’s career development. And if you’re not providing a future path for them, they’ll go somewhere else.

That’s why asking this follow-up question is very important:

“Do you think you can accomplish that here (meaning your company)?”

If there is trust between you and that individual contributor, and you have their back, it’s a disarming question for the right manager that could lead to a really healthy, productive, transparent conversation.

5. What experiences and connections do you need to achieve your goals? What do you need to learn?

This helps you to become aware of the employee’s career path thoughts, the people who could be good role models and mentors, and opportunities to advance their skills. They will realize that you care, and you can look for ways to help them out moving forward.

If you have an employee who is unhappy and considering quitting, it is crucial that you take immediate action. You should schedule a meeting with them as soon as possible and ask them why they are thinking about leaving. During the conversation, it’s important to listen carefully and ask follow-up questions that demonstrate your willingness to help.

The stay interview can be a useful tool for identifying specific ways to improve their experience, but it’s important to take concrete action to implement the changes quickly. Delaying action can give the impression that nothing will change, which may prompt the employee to leave.

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Learn More: From Boss to Leader

The author of the accompanying article, Marcel Schwantes, is the creator of the virtual training course From Boss to Leader. He is the author of many past leadership articles for Carrier Management, including, “How Great Leaders Display Authenticity,” one of the Top 100 features published by Carrier Management and the first article in a six-part series on the best practices of servant leaders.

On July 16, 2024, from 11:00 a.m. – 3:00 p.m. ET (U.S.), Schwantes will deliver the ‘From Boss to Leader’ Half-Day program, offering tools and strategies to increase your leadership effectiveness, grow your influence, and engage your teams to drive results.

Visit https://www.marcelschwantes.com/frombosstoleader/ for full details and registration.