August Benefits News and Posts

The Benefits Stay Interviews Can Bring to Your Company

It is important to understand the strategic role that stay interviews can play in retaining top talent and bolstering company culture.

FROM BUSINESS.COM / BY PATRICK PROCTOR

For many businesses, interviews are conducted during the hiring process or when someone leaves the company. However, there are also benefits to interviewing employees at various points in between. Stay interviews are a great tool that more managers should use to gauge employee satisfaction, company culture, and shared thinking on how to improve and grow the organization. Managers who conduct stay interviews can retain top talent, engage their employees, and lower their employee attrition in ways that others cannot.

What is a Stay Interview?

A stay interview is an interview, or more a conversation, between a manager and an employee, the purpose being to learn what keeps that employee working for the organization, as well as any aspects that need improvement or change.

Some may feel that employee surveys do the same thing a stay interview does, but you could argue that holding one-on-one conversations with as many employees as possible teases out much more information for leadership to work with than fixed interview questions that do not allow for follow-up questions or contextual details.

Stay interviews can help you reduce overall attrition, retain top talent on your team, and assess your employees’ wellbeing within the workplace.

Stay Interview Do’s and Don’ts

In order for these conversations to be successful, and for employees to get excited about them, business owners and managers need to disarm these discussions so employees know what they are and are not. Here are a few tips.

Do’s

Create a setting of collegial conversations between team members and leadership that genuinely solicits ideas and feedback from employees.
Invite employees to share what is awesome and not so awesome about their employer.
Schedule and plan your meeting with the employee (one on one).
Foster an open, fun, creative, conversational, trust-based and strategic discussion.
Offer ongoing meetings with as many employees as possible.
Acknowledge that this is the first part of two; there will be follow-up on the shared ideas, information and proposed changes.

Don’ts

Don’t make this discussion any type of performance review or personal reflection of the employee sharing the feedback.
Don’t promise employees that their suggestions will be followed up on specifically as described, or at all.
Don’t only meet with employees when things are going badly.
Don’t meet with employees in a group setting; these interviews should be conducted individually.
Don’t be judgmental, argumentative, hierarchical or combative.
Don’t make these conversations a one-time event with no follow-up discussion. The company at large should learn what ideas were shared during stay interviews and whether any changes or improvements are being planned based on employee feedback.

What Are the Benefits of a Stay Interview?

There are several benefits to developing and maintaining a stay interview program.

It builds trust and employee loyalty. When employees see that their supervisor cares enough to check in and seek ideas from them, it promotes trust of management and loyalty. Employees rarely leave bosses they like and respect.

It promotes an outlook of teamwork and togetherness. One of the big differences between “stay” and “exit” interviews is stay interviews focus on idea-sharing between colleagues who both want the same thing – an awesome future and overall experience with the company. Exit interviews often zero in on the negative, without a healthy balance of acknowledging the positive.

It addresses problems in the early stages. With effective stay interviews, companies can head off problems before they get too large. Stay interviews are a preemptive opportunity for companies to change policies, practices or related aspects that are not serving team members well.

It helps retain top talent and leaders. In addition to lowering employee turnover, stay interviews offer an opportunity to gather as much information as possible from key team members about their employee experience. Are they happy? Do they feel engaged? What aspects of the company need to evolve or change for them to consider it an “employer of choice”?

It assesses the health of your company culture. Stay interviews are a chance to gauge your company culture as employees experience it. Is your culture thriving, dynamic, and engaging, or dismissive and stagnant? Cultivating an engaging, inclusive, dynamic culture is an ongoing act, not a singular destination.

It lets you assess individual employees’ wellbeing. It is possible to maintain a healthy company culture yet have individual employees who struggle within it. These employees often go unnoticed, especially if most team members are giving high marks to the culture overall. Checking in and assessing the individual as well as the company culture is equally important and a huge gain for leadership.

It shows how you compare to your competition. Your employees probably know as much as you do (or more) about what your competitors offer their employees. During these discussions, don’t be afraid to ask what employees are seeing in the job market or the industry. A good question to ask employees is, “What are our competitors offering in this area?” You could also see what they think about benefits or employment practices that other companies are experiencing success with.

It helps you develop more effective training programs. Once you receive employee feedback, you can zero in on requests, desires, or hopes of change that involve employee or supervisor training. Stay interviews can highlight areas of strong interest so that you don’t waste time training employees in areas they do not value or need.

It energizes employees. The simple act of checking in and asking an employee’s opinion can go a long way. You won’t always be able to follow the suggestions, but when a manager takes time to focus on the individual thoughts and experiences of an employee, the employee often leaves the interaction energized and determined to do their part to make the company better.

It’s an expense-free tactic. Last but not least, stay interviews do not cost anything. All they require is for leaders to make the time and take the feedback they receive seriously.

How to conduct a stay interview

An effective stay interview model is not difficult to create.

1. Schedule it ahead of time.

Planning the meeting with your employee helps keep the interview organized and on point, and shows the employee how important is it to you.

2. Share the purpose and expectations of the meeting.

Some employees feel anxiety when managers ask to meet with them. Make it clear that no one is in trouble. Share the purpose of the meeting so the employee can think ahead about the thoughts and ideas they want to share.

3. Conduct the interview in a comfortable, quiet and casual setting.

This is not a conversation to have on the fly. Take time to relax the employee and ease into the discussion.

4. Allow enough time for a meaningful conversation.

Do not attempt to have this conversation in 15 minutes. Allot about 45 minutes for the meeting in the hopes that rich dialogue and exchange of ideas will fill up the time.

5. Show that you genuinely value employee feedback.

Make sure the employee understands that this is just not an exercise; it has practical value. If employees believe that you genuinely care about their feedback, they will invest more in their sharing.

6. Plan your questions (do not wing it).

You don’t need to ask 20-plus questions to have a successful stay interview, but if you don’t have any specific questions planned, it might turn into a simple conversation that leads nowhere.

There are many good interview questions that you can use for these conversations. The best questions to get the employee to share rich and detailed ideas are open-ended. These are some examples that the Society for Human Resource Management recommends:

What do you look forward to when you come to work each day?
What do you like most or least about working here?
What keeps you working at this company?
If you could change any one part of your job, what would that be?
What would make your job and overall work experience more satisfying?
How do you like to be recognized for your work?
What talents do you have that are not being used in your current role?
What would you like to learn more about, within or outside of your current role?
What motivates (or demotivates) you?
What can I do to best support you as your manager?
What can I do more of or less of as your manager?
How would you describe our company culture to a brand-new employee?
What might tempt you to leave?

7. Communicate the next steps.

Once the interview is complete, share with employees what the follow-up will look like. Tell them that leadership will share what ideas will and will not be acted upon and why.

8. Share feedback with the entire company.

Although managers cannot always meet with all employees, sharing the feedback yielded from stay interviews with the entire company helps everyone feel informed and in the know.

When you follow up with the team, remember:

Make no promises. When managers conduct stay interviews, they should not promise any changes or timelines.

Publicly thank employees for their feedback. One of the best ways to encourage ongoing employee feedback is to thank them for sharing their ideas and suggestions for improvement.

Make it an ongoing process. One stay interview is good. Repeated (e.g., annual) stay interviews are much better. As the company changes, employees grow and change, and your industry evolves, learning what is on your employees’ minds is essential to cultivate a desirable company culture and an engaged workforce that is prepared for the future.

Todd BellistriFebruary 7, 2023August Benefits

Why not start off this selling season leading into the holidays on the right foot? One way to do that is to finally give some thinking to smart marketing. We don’t need to be the ones to tell you it’s very competitive out there (but we will), what with tons of start ups and side hustles all over the landscape. By developing a legit marketing program you are giving yourself a true foot up on the competition. So read on, you’ll see that its not as daunting as you think and the upside is well worth it.

FROM FORBES / BY DOMINIQUE HARROCH

In today's digital landscape the right approach to small business marketing combines advanced technology, data-driven insights, and effective digital platforms. Here’s a comprehensive guide to small business marketing to companies navigate the current marketing trends and tools that can drive business success.

Key marketing tools for small businesses

Following is a summary of 11 key marketing tools that small and growing businesses should consider when leveraging owned, earned and paid media:

1. An optimized small business website

A high-performing website is crucial for marketing today. An optimized site increases your page rank on Google and other search engines, and in today's world, fewer than 1% of searches go to the second page of a search. Key elements of an effective small business site include:

Memorable domain name: Choose a name that reflects your business and is easy to recall.
User-friendly design: Ensure your site is visually appealing and intuitive. Sites should have a clear structure, intuitive navigation and information that is easy to access.
Search engine optimization (SEO): Implement SEO best practices to rank higher in search engine results.
Mobile optimization: Since over 55% of global web traffic comes from mobile devices, you’ll want to ensure your site is mobile-friendly.
Valuable content: Regularly update your site with engaging content like blogs and articles that address your audience's interests and needs.
Fast loading times: Optimize page speeds to improve user experience and SEO rankings.
Secure hosting: Use reputable hosting services to protect your site’s data and performance.

Additionally, integrating tools like Google Analytics (now called GA4) and Google Search Console (GSC) can provide valuable insights into your site's performance and user behavior.

2. Paid search engine marketing (SEM)

Paid search engine marketing, in which you pay if a keyword is clicked on that drives traffic to your website, remains a powerful tool for driving targeted traffic. Platforms like Google Ads and Bing Ads allow you to:

Bid on keywords: Use tools like Google keyword planner to select high-value keywords relevant to your business.
Control costs: Set daily and monthly budgets, and adjust bids based on performance.
Analyze performance: Track key metrics to assess and refine your campaigns.

3. Paid listings and display ads

Paid listings on platforms like Yelp, Facebook, and Pinterest can boost visibility. Use Google’s Display Network to target ads based on user interests and behavior. This approach allows you to:

Choose ad formats: Use banners, text ads, or video ads to capture attention.
Track return on investment (ROI): Monitor clicks and conversions to measure effectiveness. Track your costs, record and monitor revenue, and record all expenses. Make sure to measure lead generation numbers, customer acquisition, and sales metrics as valuable insights into your marketing effectiveness.
Testing: By experimenting with different ad copy, targeting options, and formats, businesses can identify what resonates most with their audience, refine their strategies, and ultimately improve click-through rates and conversions. This can include A/B testing, target audience variations, ad copy variations, call-to-action (CTA) testing or visual elements where you test different images or videos to determine which visual elements attract more attention and engagement.

4. Content marketing

Content marketing remains a cornerstone of effective digital strategies. Key tactics include:

Blogging: Regularly post optimized content to drive organic traffic. Nine out of ten marketers use blogs as part of their content strategy.
Guest posting: Publish articles on popular platforms such as Medium and AllBusiness.com to enhance your reach and SEO. Strive to create “evergreen” articles, which are designed to remain relevant and valuable over a long period of time, regardless of current events or trends. Unlike timely articles that focus on current news or trends, evergreen content addresses topics that have enduring interest and utility.
Video content: In 2023, individuals spent an average of 17 hours a week watching videos online. Utilize platforms like YouTube and TikTok to engage your audience.
Content platforms: Leverage content recommendation platforms like Outbrain to expand your content’s reach.

5. Social media marketing

Social media is a powerful tool for engaging with your audience. Focus on platforms such as:

Facebook: Effective for broad audience reach and targeted ads.
Instagram: Ideal for visual content and influencer partnerships.
LinkedIn: Best for B2B marketing and professional networking.
TikTok: Useful for viral video content and younger demographics.

With over 5 billion global social media users and growing, effective social media marketing can significantly enhance your brand’s visibility and engagement. To be effective, you must regularly post interesting content to obtain and keep followers.

6. Influencer marketing

Influencer marketing involves collaborating with individuals who have a significant and engaged following on social media platforms like Facebook, TikTok and Instagram to promote products or services. These influencers, who can range from celebrities to niche content creators, leverage their credibility and relationship with their audience to drive brand awareness and influence purchasing decisions.

The impact of influencer marketing on broader marketing efforts can be profound, as it allows brands to tap into authentic, targeted communities that are often more receptive to recommendations from trusted (or at least known) voices.

This form of marketing can enhance brand credibility, expand reach, and generate higher engagement rates compared to traditional advertising. As consumers increasingly seek personalized and relatable content, influencer marketing has become a powerful tool for connecting with audiences in a meaningful way.

7. Online business directories

It’s important for business owners to list their companies in prominent and reputable business directories. Often these listings are free, but even if you must pay a small fee, it can be worth it.

The benefits include

Exposure to potential clients and customers.
Boosted SEO through backlinks.
Improved online presence and brand awareness.
Increased credibility for your business.
Low-cost or free marketing.

The following is a list of top business directories to consider listing your business:

AllBusiness.com
Better Business Bureau
Facebook Page
Google Business Profile
LinkedIn
Superpages
Bing Places for Business

8. Radio marketing

While less prominent today, radio can still be effective. Many people are in their cars during peak commute hours. To maximize radio advertising:

Targeted placement: Choose stations and time slots that align with your target audience.
Engaging content: Create memorable and concise ads.
Consider your market: Are you a B2C company (business to consumer) or B2B company (business to business)? Is your market local (like a neighborhood restaurant), national (such as selling payroll services), or international (such as selling unique clothing to multiple markets)?

The cost-effectiveness of radio compared to TV makes it a viable option for more localized campaigns.

9. Press releases

Press releases are valuable for announcing significant business updates. Ensure your release is:

Newsworthy: Focus on unique and timely information.
Well-structured: Include a strong headline, key details, and contact information.
Multimedia: Incorporate multimedia elements like images and videos to increase engagement.

10. Email marketing

Email marketing remains effective when executed correctly. Best practices include:

Segmenting: Personalize content based on customer preferences and behavior. Use data to segment your lists and target markets.
Offering engaging content: Provide valuable information, special offers, and updates.
Optimization: Use A/B testing to refine subject lines and content.
Using AI-driven tools: These can help automate and personalize email campaigns, improving engagement rates.

11. Direct mail marketing

Despite the digital age, direct mail still works for certain audiences. To optimize direct mail:

Use targeted lists: Use well-researched mailing lists to improve ROI.
Implement creative designs: Ensure your mail piece stands out and is easy to read.
Track mailings: Monitor responses and effectiveness.

More tips to enhance your marketing campaigns

Here are some additional tips to optimize your marketing campaigns:

Segment: Segment your target market to a specific audience. Segmentation can be done with respect to age, gender, income level, education, geography, purchase stage or brand loyalty, and more.
Business lists: Consider using high quality business lists such as Dun and Bradstreet, Experian Business, ZoomInfo or InfoUSA. These lists can be used in multiple channels as well, maximizing the value of the lists.
Track real time: Track your marketing campaigns in real-time to get immediate insights, make quick adjustments, and understand what is working or not.
Key metrics: Track the key metrics in your campaigns, such as click-through rate, engagement rate, conversion rate, sales, revenue, customer acquisition cost, market share, and churn rate.
Software and AI: Use software and artificial intelligence (AI) tools for social media management, content creation and testing of alternative ads.
Budget: Allocate your budget wisely. Assess the performance of different marketing channels and allocate your budget to the ones that deliver the highest ROI. Continuously review and adjust your spending to focus on the most effective strategies.
Keep current: Stay updated with trends. Keep up with the latest marketing trends and technologies. Experiment with new platforms, tools, or strategies to stay ahead of the competition and reach your audience in innovative ways. Keep up to date with experts by seeking articles from reputable business sources such as AllBusiness.com.
Promote across channels: Share earned media coverage on your website, social media platforms, and email newsletters. For instance, if a major publication writes about your product, feature this article prominently on your homepage or social media profiles.
Showcase social proof: Use earned media as a form of social proof by highlighting positive reviews, testimonials, or features from reputable sources. This can build credibility and trust with potential customers.
Strengthen relationships with media: Build and maintain good relationships with journalists and influencers. This can lead to more favorable coverage in the future and expand your media network.
Repurpose content: Convert mentions and reviews into additional content, such as blog posts, case studies, and infographics. For example, if your company was featured in a popular tech blog, you could create a detailed blog post about the experience and its impact.

Ready to enhance your small business marketing strategy?

Developing a comprehensive and modern small business marketing strategy requires leveraging a mix of traditional and digital techniques. By integrating artificial intelligence tools, optimizing SEO, utilizing effective SEM strategies, and harnessing the power of social media, you can create a dynamic and effective marketing approach. Start by experimenting with different strategies, tracking your results, and refining your approach based on performance data.