Why the First Interview Should Never Be the Last Here are three more interviews for getting to know your best talent even better and remembering why they were such a great pick in the first place.

By Matt Straz

Opinions expressed by Entrepreneur contributors are their own.

Losing great talent can be costly. Take a moment to consider all of the costs associated with employee turnover, including interviewing, hiring, onboarding, reduced productivity and lost opportunity costs, to name just a few.

While there's no surefire way to completely prevent employee turnover, it can be greatly reduced by simply taking the time to speak with employees. And not just a superficial "How was your weekend?" on a Monday morning.

To hold on to the best and brightest of the bunch, the initial employment interview should never be the last interview employers perform. Instead, here are three more interviews for getting to know your best talent even better and remembering why they were such a great pick in the first place:

Related: 7 Interview Questions To Help You Hire Superstars

1. The quarterly interview

This one's a no-brainer: the performance "interview." Rather than waiting until the end of the year to review a year's worth of performance-related data, this interview should be conducted on a quarterly basis. Not only does it make it easier to set relevant goals and monitor individual progress, it can also reduce the amount of employee anxiety associated with the notoriously formal annual review.

Use this time to help identify areas for improvement and accomplishments that need recognition. Combat the bad rap that performance reviews have earned by making the review process about employee development, not whether a pay raise is in order.

Related: 10 Toxic Words You Must Not Say in a Job Interview

2. The stay interview

Just as the name implies, the stay interview is designed to give employers insight on why employees choose to stay with a company. Employee satisfaction surveys may do the trick when it comes to finding out what drives the majority of workers but stay interviews are tailored to suit individual employees.

In addition to helping employers figure out why employees stay, they can also help identify what could possibly cause employees to want to leave. Consider asking questions like, "What do you like best and least about your job?" or "What would you like to see done differently within your department?" Questions like these can help employers gain the insight necessary to maintain employee satisfaction and hold on to top talent.

3. The exit interview

So, an employee is leaving. It happens. Make the most out of the situation, however, by conducting an exit interview. The purpose of the exit interview is to help employers better understand why employees leave, as well as uncover trends in employee turnover in an effort to reduce turnover in the future. Not to mention, exit interviews can offer valuable insight on employer brand.

To evoke honest responses from departing employees, ask questions like, "How do you feel things went during your time here?" or "How will your new job fulfill your career goals?" Instead of focusing on why the employee is leaving, focus on why they felt the need to start looking elsewhere.

While exit interviews are a great tool for understanding why employees leave and remedying any issues, these interviews also ensure that the company is staying true to its employer brand and departing employees are leaving on a good note.

Related: Finding Employees Eager to Both Work and Grow

Wavy Line
Matt Straz

Founder and CEO of Namely

Matt Straz is the founder and CEO of Namely, the HR and payroll platform for the world's most exciting companies.

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