Use of Stay Interviews as a Retention Tool for Key Talent

Abstract

Rapid changes within the global market have intensified the shortage of experienced talent. Employee turnover remains a major threat to companies worldwide. This study examined the use of stay interviews for retaining key employees from the perspective of managers. Nine leaders who manage key talent were interviewed about what measures they currently take to retain key employees and their perspectives about using stay interviews to increase the retention of key employees. The resulting data were examined using content analysis. Study findings indicated that managers at the case organization currently engage in four activities to retain key talent: fostering employees’ productivity and development, providing rewards and recognition, disseminating organizational information, and offering professional and personal support. Managers believed that stay interviews enhance retention of key talent through a number of mechanisms such as helping employees feel valued, cultivating supportive managerial behaviors, and building strong supervisor-subordinate relationships.