“Stay Interviews” being used by Indian companies to keep their best talent from leaving

An interesting process that has helped companies keep their best talent from going out is being used in IT firms.  It is probably really required there.  Here is an example of Hexaware Ltd. using the “Stay Interview” process.

In August this year, at a management meeting to review its quarterly results, IT services company Hexaware Technologies hit upon the idea of ‘stay interviews’ for its high-performers.

So a list was drawn up. And Hexaware’s top 25 per cent performers in the two-to-six-year experience bracket faced a barrage of queries ranging from “What is it about your job that makes you jump out of bed every morning?” to “Do you think your talents are getting fully utilised here?”

The exercise paid off. A few top performers who’d earlier openly talked about exploring new options, informed their bosses that they were staying back.

The company is now working on a new rewards and recognition scheme, a demand that arose during the course of these interviews. “It was a hugely effective initiative,” says Chief People Officer Deependra Chumble. “We’ve now decided to roll it out across the board.”

Here is a good Infographic to explain the concept: