Retaining your productive and profitable agents is just as important as recruiting new ones.

While you’ve probably conducted many recruiting interviews and even a few exit interviews, very few hiring managers are using “stay interviews.”

What’s a stay interview? 

It’s a face-to-face meeting with an existing agent discussing the reasons they’re staying with the organization.

According to recruiting expert Penny Fletcher, they’re becoming more common in today’s workforce because it’s a practice that benefits both the company and the employee. 

Here are a few ways these benefits play out.

Feeling Heard and Valued. Agents want to be noticed and recognized for their ideas. This is a safe way for them to express their thoughts.

Patterns Emerge. After a few of these interviews, some patterns (both positive and negative) may become apparent. If multiple agents are saying the same thing, it’s worth listening.

Source of Testimonials. Since recruiting is competitive, it’s helpful to have a reserve of testimonials from real agents who love working on your team. Stay interviews are a natural way to capture these testimonials.

According to Fletcher, pay issues rarely surface during these interviews.

I hear things such as better communication, additional training, and more opportunities for advancement. 

These are the things you need to hear and improve if you expect your agents to “stay” over the long run.