I was going through some articles today.., and got this particular article on STAY INTERVIEW..
It is just not the news, but also very informative, how companies are working out with thier human resource.., i thought it to be very useful, so sharing it with you all..
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 HexawareBSE 2.77 % Chief People Officer Deependra Chumble. "We've now decided to roll it out across the board."
The thinking is pretty simple. It makes much more sense to act on feedback from employees early on rather than do it through the exit interview route, when they are on their way out.
Companies coping with a talent pool that is fatigued by the intense pressures of the economic downturn could find this useful to gauge employee morale and roll out remedial measures.
Across all RPG Group companies, for instance, the human resources department networks with critical talent to gauge employee sentiments on aspects such as job satisfaction, relations with reporting managers, rewards and recognition, and job challenges.
Based on this, it categorises employees as 'red', 'amber' and 'green'. Immediatecorrective action is taken for talent marked red and amber.
Explains Arvind Agarwal, president and chief executive, corporate development and HR, RPG Enterprises: "This could lead to change in job responsibility, rewards and recognition and specific nomination to training programmes."
The company has also made several changes in company policy based on employee feedback including, most recently, the increment and performance bonus plan.
"We are now providing a part of the performance bonus on individual performance unlike earlier where the entire bonus was based on company performance," says Agarwal.
Success can be seen in continuous increased employee engagement scores in the group.
MaricoBSE 0.61 % discovered that employees wanted line of sight on future roles and constant challenges through additional responsibilities.
Based on this, it came up with a Structured Career Planning process for people completing a specific tenure in a role.
It helped curb attrition that typically happens when a person is saturated in a role.
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