The company’s latest retention tool: stay interviews – Times of India

Residence interviews, a practice that was introduced during the business process outsourcing (BPO) boom, is now reused by many as an employee retention strategy to control attrition rates. As the name suggests, stay interviews are conversations that organizations have with their employees to let them know that they are key to business growth. They are conducted to tackle anything that may cause employees to quit or resolve any issues they may have.
Recently, CIEL HR Services discovered that a senior executive critical to the recruitment firm had doubts about his future there. The firm proactively, as part of its talent management initiative, had a conversation with the director. Managing Director and CEO Aditya Narayan Mishra said: “We have given the Director a clear picture of where he stands and why he is important to our Hit now and in the future. He enjoyed the course and that helped us retain this talent with great potential.

Dell Technologies believes that a leader is responsible for managing their team. Regional Human Resources Manager (India), Ritu Rakhra, explains that it is leaders who will be able to connect best with their teams. “Their priority is to establish a personal relationship with each member. Whenever there are red flags and a high-potential employee is considering leaving, we expect the leader to step in and have that conversation and, if necessary, bring in the next-level leader. An additional level can help the team member understand the situation and also bring a different perspective to the conversation. It is important that the team member understands the commitment the company is making to their career. »
At Ericsson, while regular surveys gauge employee sentiment, stay interviews are conducted to better understand their needs. Vice President and Head of Human Resources for Southeast Asia, Oceania and India, Priyanka Anand, said the company is committed to addressing feedback and reporting progress in a timely manner. transparent. “Trust, transparency and honesty between management and its staff in an organization fosters a culture of ‘talking about it’. Many employees choose to leave organizations instead of raising their concerns because they likely feel like they won’t be heard or their issue won’t be properly addressed. In this way, not only do organizations lose valuable talent, but employees may have had to leave work they loved and thrived in due to a lack of trust in management,” said Anand.
While residency interviews are typically conducted by the immediate supervisor, IT company SunTec Business Solutions follows a three-pronged strategy. This involves connecting with an HR partner, the manager and the leadership team. “Understanding what motivates employees is crucial not only for retaining the right talent, but also for gathering actionable insights,” said Vice President and Global Head (Talent Function) Prakash P Nair.
“In fact, over the past couple of years when the workforce moved away and we even had to move to a hybrid model, such connections were key to identifying challenges, providing the right guidance and understanding employee aspirations. Proactive conversations capture valuable employee insights and review their experience, while maintaining confidentiality. At SunTec, we also aim to provide seamless communication,” Nair said.
How do leaders anticipate an employee’s move?
We invest heavily in leadership development to ensure that these right signals are picked up at the right time and the leader is able to do the right thing. We truly believe that an empowered leader with the right skills can drive organizational success,” Rakhra said.
Conversations around residency interviews are gaining importance in today’s environment where the external environment weighs heavily on organizations that are unable to adequately reward top performers. While on the one hand variable compensation is reduced to optimize costs, organizations are required to mitigate the impact on their best employees because in such situations it can become difficult to retain top talent, Mishra said. . “The stay interviews ensure that you are not heading for an exit interview. Counter-offers are financial in nature and devoid of emotion. They may not help a company retain an employee for long,” Mishra said.

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