Passive candidate sourcing is the sharpest double edged sword in the hiring world. The good part of the blade is that you have the opportunity to offer great talent a way out of their current, lackluster job and a way into your company. The downside of this trend is that retaining your key employees is becoming more and more difficult. Now, more than ever before, it is important to understand what makes your top talent enjoy their work and what makes their skin crawl.
The best way to find out this information is to ask. In “Stay Interviews: an Essential Tool for Winning ‘the War to Keep Your Employees,’‘ by Hiring and Retention guru Dr. John Sullivan, the good doctor proposes that one of the best retention tools available is a “Stay Interview,” or an informal interview with your top talent to figure out what motivates them to work for you. Now, this technique should be reserved for only your top employees, that is, those that would make the largest negative impact should they decide to work for a competitor. The key here is to open up a dialogue with your top performers to find out the specifics of what makes up their overall job satisfaction. This technique can be great for learning both the great motivating factors that exist in your work place as well as uncovering flight triggers such as a lousy manager or unrealistic deadlines.
The article has a template for managers to conduct their own Stay Interviews, and is definitely worth checking out if this idea appeals to you.