Stay interviews are often seen as the opposite of exit interviews, which focus on why an employee is leaving. But let’s take a closer look. What are stay interviews?
What Are Stay Interviews?
A stay interview is a proactive conversation—typically between the employer and an employee—designed to enhance engagement and retention. It helps uncover what motivates an employee to stay and, conversely, what factors might lead them to leave.
In the UK, stay interviews only began gaining recognition as an effective retention tool in 2021, as highlighted in the CIPD article ‘Stay Interviews: A Valuable Retention Tool’.
Where Did They Originate?
Pinpointing the exact origins is challenging. However, a key reference is ‘Hello Stay Interviews, Goodbye Talent Loss’ (2015) by Dr. Beverly Kaye and Sharon Jordan-Evans.
In the 1990s, Dr. Kaye worked with a company that had a critical SAP team of 38 employees they wanted to retain. She posed two simple yet powerful questions:
- What could the company do to keep you?
- What would entice you to leave?
Dr. Beverly Kaye’s approach to retention proved to be highly effective.
After asking those two simple but powerful questions, the company was able to gather key insights directly from the employees, allowing them to take proactive steps to address concerns and improve employee satisfaction.
Why Are Stay Interviews Important?
Data from the Work Institute estimates that each lost employee costs the company, on average, one-third of their annual salary. With the UK’s 2024 average salary at £37,430, this equates to approximately £12,477 per employee.
Given the high costs of turnover, organisations that prioritise proactive retention strategies can significantly reduce these risks and avoid the hefty expenses tied to recruiting, onboarding, and lost productivity.
At Chiumento, we take stay interviews step further by measuring “flight risk,” categorising employees as actively looking, curious, or not looking—allowing for timely interventions. You can read more about this in our blog, “Stay Interviews: 5 Things to Consider“.
Who Should Conduct Stay Interviews?
While stay interviews can be conducted by leaders, employees may withhold honest feedback due to fear of repercussions or uncertainty about how their responses will be used.
That’s why outsourcing stay interviews is often the best approach. Here’s why:
- Greater Honesty: A neutral third party fosters a safe environment for candid feedback, leading to deeper insights into workplace satisfaction and potential improvements. All our stay interviews are conducted with care by our trained specialists who are expert interviewers. You’re guaranteed to have all interviews treated with the respect that it deserves.
- Objective Analysis: Outsourcing ensures feedback is gathered, analysed, and presented impartially. Our approach provides deep insights through dashboards and reports, combining qualitative and quantitative data for actionable results.
In Conclusion
Stay interviews are a simple yet powerful tool that benefits both employers and employees. We hope this brief guide has helped clarify their value.
If you’d like to learn more, get in touch with us today for a no-obligation discussion about how we can help you to retain your top talent.
Iona joined Chiumento in 2024, bringing a vibrant background in design as a freelance illustrator and marketer, along with experience as a Product Manager for a leading educational training brand. A 2020 AUB graduate with a BA Hons in Illustration, Iona is enthusiastic about digital strategy and marketing.