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SUMMER 2022

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Distributor's Link Magazine Summer 2022 / Vol 45 No 3

30 THE DISTRIBUTOR’S

30 THE DISTRIBUTOR’S LINK Joe Dysart Joe Dysart is an Internet speaker and business consultant based in Thousand Oaks, California. A journalist for 20 years, his articles have appeared in more than 40 publications, including The New York Times and The Financial Times of London. During the past decade, his work has focused exclusively on ecommerce. Telephone: 631-256-6602; web: www.joedysart.com; email: joe@dysartnewsfeatures.com HOW FASTENER DISTRIBUTORS CAN HANG ONTO EMPLOYEES WITH THE STAY INTERVIEW Facing one of the most intense competitions for employees in years, fastener distributors are finding they can hang onto valuable employees longer by engaging in ‘Stay Interviews.’ Recruiting experts say these interviews ensure current employees feel valued -- while uncovering beneaththe-radar problems that could lead to abrupt departures. Plus, they can also spare fastener distributors the often arduous process of onboarding a promising new hire -- if they can find one. Bonus: There are also a few software packages you can use to fine-tune, monitor, analyze and continually improve on your use of stay interviews. Essentially, Stay Interviews say: “We care about what you have to say, we value you as a part of our organization, we are assessing workplace culture, workplace communication” and we want to improve for you as an organization and leaders,” says Matthew W. Burr, owner, Burr Consulting. Adds Richard Finnegan, an HR consultant who literally wrote the book on the topic, “The Power of Stay Interviews for Engagement and Retention:” “Senior managers know that unwanted turnover and disengaged employees drag down profits. “Conducting Stay Interviews is an effective, fast solution that gives a mega-return on investment. “Our research shows that improvements in engagement and retention have direct impacts on revenue CONTRIBUTOR ARTICLE produced per employee -- and for the company as a whole.” Interestingly, Stay Interviews also dispel the common notion that money -- and the pursuit of more of it -- is the overwhelming reason why employees disappear from the workplace. FASTENER DISTRIBUTORS ARE FINDING THEY CAN HANG ONTO VALUABLE EMPLOYEES LONGER BY ENGAGING IN ‘STAY INTERVIEWS’ Says Beverly Kaye, co-author “Hello Stay Interviews, Goodbye Talent Loss: “Most employees who leave don’t “start looking for other opportunities because of dissatisfaction with pay, perks or benefits.” Instead, Kaye says employees are more likely to bolt if one of these key ‘reasons to stay’ are lacking: ¤ Meaningful, challenging work ¤ A chance to learn and grow ¤ A good boss ¤ The sense of being a part of a team CONTINUED ON PAGE 110

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