CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Compliance
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » Want to Keep Valued Staff? Conduct a ‘Stay’ Interview
Human Resources Management

Want to Keep Valued Staff? Conduct a ‘Stay’ Interview

Asking five questions can help managers understand why employees leave their jobs.

April 11, 2016
Jennifer Plager
No Comments
Richard Finnegan
Structured conversations help supervisors determine what their employees like and don’t like about their jobs, says Richard Finnegan, CEO of C-Suite Analytics.

While staff engagement and exit surveys provide data, they aren’t the key to understanding what makes an employee stay or leave their jobs, says Richard Finnegan.

To understand that, credit unions should conduct “stay interviews,” structured conversations that provide supervisors with insight into what their employees like and don’t like about their jobs.

“This is the answer” Finnegan, CEO of C-Suite Analytics, said Monday during the CUNA HR & Organizational Development Council Conference in Orlando. “But it takes courage to do it.”

The practice helps managers learn what actions to take to strengthen employees’ engagement with the credit union to increase retention.

Key components of a stay interview:

  • It’s completed by the immediate supervisor, never a member of human resources (HR);
  • It’s conducted separately from performance reviews;
  • It’s repeated once a year for current employees and twice a year for new hires;
  • It creates an individual stay action plan; and
  • It allows managers to forecast the likelihood of retaining the employee.

The stay interview consists of five key questions:
1. When you travel to work each day, what do you look forward to?
2. What are you learning here? What do you want to learn?
3. Why do you stay here?
4. When was the last time you thought about leaving our team? What prompted it?
5. What can I do to make your experience at work better for you?

From those five questions and any follow up questions, supervisors can learn what employees like about their jobs, what they dislike, and what would make them more satisfied with their jobs.

This increases the likelihood that they’ll continue to work at the credit union, Finnegan says.

Common issues requested during a stay interview include changing work processes, fixing or obtaining equipment, and boosting salaries, Finnegan says.

“Most things people will tell you can be solved,” he said. “Supervisors can go to their supervisors or to HR with issues employees have in an attempt to come up with a solution and hopefully decrease turnover.”

KEYWORDS #HROD16 credit union retention
  • Related Articles

    Unleash Brilliance

    CEO succession: Avoid the urge to clone your CEO

    Want to Succeed in the Future? Establish High-Value Loan Relationships

Jennifer-plager_600x515
Jennifer Plager

Stand up and work for change

More from this author

Post a comment to this article

Report Abusive Comment

Subscriber Exclusives Break-through branding

Break-through branding: Build an emotional connection

When Elevations Credit Union expanded into two new counties, senior leadership set out to tell its story in a bold, fresh way.
How technology transforms marketing

How technology transforms marketing

Artificial intelligence improves member conversions, engagement, and retention.
Analytics drives journey toward data nirvana

Analytics drives journey toward 'data nirvana'

Data analytics can provide the 'oh wow' moment of discovering member behavior.
Subscribe Now

Trending

  • It's time to expand our cooperative principles

  • Settlement proposed in data breach lawsuit against Wendy’s

  • Compliance: Checklist consolidates final rules, regs from 2018

Tweets by CUNA_News

Polls

Who should be the 2019 Credit Union Hero of the Year?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors