How Stay Interviews Can Help You Address Employee Pain Points and Keep Them Happy
Just a few months ago, we wrote about The Great Resignation of 2022 and how stay interviews can play a major role in boosting employee morale and retention.
We may officially be in a new calendar year, but The Great Resignation isn’t over yet. In fact, it’s quite the opposite: Nearly 70% of Millennials and Gen Z-ers are ready to quit their jobs.
Hold up. That’s a big number.
This is an especially compelling stat in the wake of the “Baby Boomer Retirement Crisis,” which indicates that more than 75 million Baby Boomers are on the road to retirement by 2030. Who will be left in the workforce to fill these open positions if the up-and-coming generations have had enough?
With this very real concern still top of mind for companies across all sorts of industries, we want to do everything in our power to ensure your organization feels prepared to navigate uncomfortable employee conversations and feedback with dignity, mutual respect and tangible solutions that will encourage them to stay put.
In this blog post, we’ll revisit the stay interview and how your organization can utilize this tool as a method of proactively addressing employee pain points head-on, so you can keep your team happy, engaged and motivated at work.
“What do you mean my employees aren’t happy?”
Even the organizations most dedicated to company morale and feedback will come up against employee pain points from time to time. And as unpleasant as it is to hear, giving your employees a safe platform to communicate these issues openly and honestly—without fear of personal or professional repercussions—can truly make all the difference.
In the most general terms, employee pain points refer to the areas that employees most often experience frustration, dissatisfaction or discomfort in their work life. While these pain points may vary between industry, organization, and even within specific departments, Forbes listed some of the most common employee pain points, including:
- Office politics
- Limited trust from leaders
- Lack of appreciation, transparency and top-down communication
- Limited growth opportunities
In the pre-pandemic world, it was common for employees to internalize these pain points and stay put at their job even if they were unhappy. Now, this is simply no longer the case.
Addressing Employee Pain Points Can Make or Break Your Company’s Future
When most organizations talk culture, they point to things like fun perks, benefits, beer fridges and team-building events—all important components of a strong company culture, sure. But a tricked-out beverage cooler can only go so far.
Arguably, what matters more is how well you know the things that impact your employees’ day-to-day work experience. Employees who are dissatisfied with their work life are more likely to seek other job opportunities, leading to higher turnover rates, which can then directly impact remaining employee morale, productivity and team dynamics. It’s a nasty cycle that nobody wants for their business.
This is where the stay interview comes into play.
The Long-Term Impact of Stay Interviews
In a stay interview, managers and employees sit down one-on-one to candidly discuss their experiences, needs and concerns—allowing managers to gain insight into what’s working well and what isn’t. Think of it like a more in-depth version of your weekly or biweekly one-on-ones.
With this opportunity to intentionally connect with the individuals on your team and the things they experience, you’ll naturally approach leadership with more empathy, which really goes a long way in the eyes of your employees.
Happy employees are more productive, outperforming their competition by 20%. They also have a more positive attitude and are more likely to refer others to the company. Addressing employee pain points is an investment in the company’s future success.
Stay interviews can also improve the overall employee experience. By addressing pain points, companies can create a positive work environment where employees feel valued, supported, and motivated to do their best work. A positive work environment can lead to increased employee satisfaction, engagement and retention.
But It’s Not a One-and-Done Kind of Thing
Stay interviews are not a one-time event, or something that you can get value from by just going through the motions. To achieve long-term employee satisfaction, engagement and loyalty, it’s imperative to follow up on the feedback received during the interview and implement changes where necessary.
Continuous improvement is key to addressing employee pain points and improving the overall employee experience—especially since one of the top 10 common pain points from employees is resistance to change from leadership.
With that in mind, having a clear agenda for your stay interview, major takeaways, and next steps to accomplish between meetings will be the true test for employees to gain a sense of the organization’s genuine commitment, or lack thereof, to the changes they wish to see.
Want Help Boosting Employee Morale?
By implementing monthly or quarterly stay interviews to address employee pain points, it becomes much easier to build a strong team of dedicated professionals and a strong company culture. It’s simple, really: When employees feel heard, valued and supported, they are more likely to be engaged, productive and committed to their work.
Be the change you wish to see in your organization and the workforce. Contact Zing Recruiting to get support in retaining your best talent and recruiting new top performers as your business grows. By focusing on your employees’ well-being now, you’re making a smart investment in the future success of your employees and your company.