NBC News feature: Stay Interviews, Quest Diagnostics, and Dick Finnegan

Last Sunday after the Super Bowl, NBC New York 4 News  aired a segment on Quest Diagnostics’ use of Stay Interviews to cut turnover, so far by 42%. We are thrilled to be the conduit for Quest’s success and if you watch the 3-minute video, you will quickly identify my favorite part. Kristina Sola who produced the piece for NBC chose to shine the spotlight on one Quest employee’s initial and legitimate skepticism toward her manager who was about to conduct a Stay Interview with her as part of Quest’s overall retention strategy.

The outcome is honest, and the piece closes with great advice for how employees should prepare for their own Stay Interview to make it most effective. It was my favorite part because it’s something I see every day from leadership, to managers, all the way through to employees, who come to the Stay Interviews process with the same apprehensions. Will managers really be able to build trust? Will employees really believe they are heard? Will this really cut turnover at the end of the day? All legitimate concerns, but as our clients can attest, yes it works!

We currently work with clients in manufacturing, healthcare, pharmaceuticals, engineering, waste management, food processing, call centers, and other major industries. No matter the industry or size, history shows us that we will most likely cut turnover by at least 20% and for some it will be by more than half. The NBC News video focuses on Stay Interviews, which is just one piece of the work our clients commit to doing to increase employee retention including: (1) placing a dollar cost on turnover, (2) working with their top team to establish two retention goals, (3) training leaders to conduct one-on-one Stay Interviews with each member of their teams, (4) asking those same leaders to forecast how long each employee will stay, and (5) building reports to hold leaders accountable to their retention goals and forecasts.

These five steps are what we refer to as Finnegan’s Arrow, the complete process proven to improve employee retention, even during “The Great Resignation”. I hope you enjoy this NBC News feature’s honest take on Stay Interviews:

How do you even begin building a better retention strategy for your organization? Reach out to me at DFinnegan@C-SuiteAnalytics.com to schedule time to talk and I will share the steps that have worked for businesses just like yours to cut turnover 20% or more, even during “The Great Resignation”.

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