Stay interviews used in India to reduce high attrition
Stay interviews also address problems that employees face, which may push them to quit the job.
Among the signs that companies are watching to track the need for such interviews are employees being less energetic or disconnected in the company interaction. According to various HR managers, there must be transparency in the organisation and be capable of reading such signs, according to a report by Times of India.
Stay interviews encourage the “speak up” culture among employees and ensure that they do not move away from a job they like, said Priyanka Anand of Ericsson.
In the same vein, Prakash P Nair of SunTech Business Solutions said such interviews were important to “identify challenges, provide the right guidance, and understand employee aspirations”.
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Stay interviews train leaders on talent management. “Whenever there are red flags and a high-potential employee may be thinking of leaving, we expect the leader to step in and have the conversation and if required, pool in the skip-level leader,” said Ritu Rakhra of Dell Technologies.
Lately, companies in India have been facing narrow margins. As a result, the variable pay is being reduced to cut costs. As such, stay interviews have become more critical.