Exit Interviews Won’t Save You: Try This Instead to Keep Your Best Employees

Many business owners or managers rely on exit interviews to figure out why people are leaving. It makes sense on paper to ask someone on their way out what went wrong so you can improve.  

But here’s the problem: by the time you’re having that conversation, it’s already too late. You’ve lost a valuable team member and are now facing the time, cost, and hassle of finding someone new.  

If you truly want to hold onto your best people, it’s time to flip the script. Enter the stay interview, a simple, low-cost, and incredibly effective tool that helps you understand what motivates your employees to stick around before they start thinking about leaving. 

What is a Stay Interview? 

A stay interview is a one-to-one, honest conversation with a current employee to understand what they like (and don’t like) about working for you. It’s not about performance. It’s not a formal review. It’s about listening. The goal is to identify what’s working, uncover brewing frustrations, and show your team you value their input. 

And when done right, they work. 

Why Stay Interviews Work Better 

Unlike exit interviews, stay interviews give you time to act. You’re gathering insights while you still have a chance to fix things, whether that’s flexible working, better communication, clearer progression, or just feeling more appreciated. 

You also avoid the ‘politeness problem’ of exit interviews. Let’s be honest, most people leaving a job don’t want to burn bridges, so they’ll often downplay their real reasons. But if you build trust through regular, low-pressure stay interviews, people are far more likely to be honest with you. 

How to Run a Stay Interview (Without Making it Awkward) 

Keep it informal and casual. You don’t need a big HR form or formal setting. Try questions like: 

• What do you enjoy most about your role? 
• Is there anything you’d change if you could? 
• Do you feel recognised for the work you do? 
• What would tempt you to leave? 

Most importantly, listen without getting defensive. Probe further for more information, for example, if they say they don’t feel recognised, apologise and ask them how they like to be recognised as remember, this can be different for everyone. Then, where possible, act on the feedback. 

Small Steps, Big Impact 

For small businesses, every employee counts. Losing even one great person can set you back months. Stay interviews aren’t magic, but they help you catch problems early, boost engagement, and build trust, so your best people are more likely to stay. 
Do you want more in-depth guides on how to retain your most valued staff? Subscribe to Dakota Blue Academy and access our ready-to-use templates, guides, and expert HR support, all designed for small business leaders like you.