Recruitment can be a very costly business especially if you have invested heavily to grow a high potential employee and then they decide to exit your company and benefit your competitors with everything you have given them!!
Far too many organisations we meet rely too heavily on an annual appraisal process to engage with employees and hope to statisfy their career aspirations during that one off meeting. 12 months is a long time and a lot happens in between! Regular engagement is critical.
I like the idea of these stay interviews especially if they become part of your culture and employees know they have a regular platform with their managers / leaders in which they can be open and transparent about how they are feeling.
Retaining top talent has to be a key objective in your business strategy.
Before you draft that job description and hand it off to HR or head-hunter to initiate the recruitment process for that key position left open due to your last critical turnover, don't. What research is saying is that when you develop a culture of upward mobility and create career paths, it will give you better results, not to mention reduce cost. Your CFO will thank you for not putting his signature on another expensive job requisition. Before I get into the secret behind getting good people to stay, let me get one thing out of the way.