Reports indicate that big tech players and top financial services organizations are finding it a challenge to retain talent. Experts recommend conducting stay interviews to retain talent. According to the Society for Human Resources Management (SHRM), stay interviews “are conducted to help managers understand why employees stay and what might cause them to leave”. Recording interviews and getting them documented with the help of business transcription services can help managers extract this vital information and use it to devise strategies to stop attrition.
In a recent survey of 6,802 tech professionals, anonymous professional network Blind found that:
- 80% of professionals are considering looking for another job in the next three months.
- Nearly three out of five professionals (57%) said they had applied for a job in the past month.
- About three out of four workers (74%) reported they had communicated with a recruiter in the last month.
Even popular employee friendly workplaces like Apple, Bloomberg, Google, Facebook-owner Meta, Twitter and Uber that offer great pay and benefits are not immune to attrition. Conducting stay interviews can help managers understand what it would take to retain talent.
What is a Stay Interview?
First, a stay interview is different from an exit interview in which employees who are leaving the organization are asked why they decided to leave. A stay interview is conducted to prevent the potential exit. In a stay interview, an HR representative or team leader has an informal conversation with employees to understand what keeps them happy and what’s not going well at work. The goal is to find out what needs to improve and what it would take to maintain a good relationship with high-performing employees – with the goal to retain them.
Specifically, stay interviews aim to identify what motivates employees and collect precise information about how they feel about their salary, benefits, and professional development opportunities. To uncover this data, the interviewer needs to ask the right questions.
Stay Interview Questions
At a stay interview, employers need to ask questions to understand the employee and their perceptions about the job, the company culture, the work environment, and the technology used. Well-executed stay interviews can:
- Provide feedback on the strengths and weaknesses of an organization
- Understand what it would take to keep existing talent longer
- Improve employee retention
- Provide valuable employee feedback
- Uncover pain points and areas of improvement
- Avoid repeated issues
- Boost employee engagement and satisfaction
- Help build a branding strategy and attract new talent
Let’s take a look at kinds of questions that experts say companies should focus on asking at a stay interview.
- What made you take up this position?
- What do you like most about the company and your job?
- What do you look forward to most when you come to work every day
- If you could, what would you change about the company, the culture, and/or your position?
- What are some of your current challenges at work?
- What keeps you here?
- What makes you think of leaving?
- Do your talents valued and being used in the company?
- Are you getting clear goals and objectives?
- Do you have the tools and resources you need to do your job properly?
- What can make you feel more engaged at work?
- Do you feel that you have a good work-life balance?
- What can we do to make your job even more satisfying?
- What are your career goals?
- Do you think you can achieve them within this company?
- How can we recognize your work and efforts?
In addition to helping employers remedy a situation before losing talent, staying makes employees feel valued. A recent Forbes article refers to the process of wooing existing employees as “re-recruiting” and notes that allocating resources to retain existing talent can help companies avoid expensive time-consuming recruitment. According to Gallup, replacing a single employee can cost up to two times the employee’s annual salary. When done the right way, stay interviews can reignite employee inspiration and motivation about their role in the workplace, and ultimately induce them to stay.
However, experts caution that stay interviews are not a substitute for a continuous dialogue with employees about what’s working and areas that need to improve. Also, stay interviews would be effective only if the management pays attention to the feedback given by the employee and takes action to implement change.
Effective communication and active listening are critical to understanding exactly what employees are seeking. That’s where interview transcription services come in. Companies can use professional transcription services to ensure that recorded stay interviews are accurately documented. HR can share the information with executives, management, leadership, and other decision-makers so that they can review the feedback, identify patterns, and strategize ways to improve the employee experience and retain existing talent.
Qualitative researchers often record their interviews and transcribe the recordings in order to gain more understanding of the subject matter for data analysis. The audio content has to be transcribed accurately so that no information is missed. Listening to audio recordings and transcribing them manually which takes hours, if not a full day, can be exhausting. That’s why researchers prefer to partner with digital transcription agencies when they have a large number of audio recordings to convert into text.
Live research interviews, focus groups, events, etc are a vital part of how qualitative researchers gather data for any project. A qualitative study requires the transcription of many hours of audio/video interviews and observations. It takes four to eight hours to transcribe just one hour of audio. Today, qualitative researchers are increasingly relying on outsourced transcription services to make sure that their interview sessions are captured effectively. Experts will ensure that the transcripts can be compared with the actual recordings to see whether anything was omitted or misquoted.
Advantages of Using Transcription Services for Qualitative Research
- Saves time: Outsourcing transcription to a professional transcription service allows the researchers to focus better on analyzing data instead of wasting time on transcribing. Moreover, with their typing skills, professional transcriptionists can document large volumes of recordings in just a few hours.
- Data quality: Outsourcing your transcription tasks will ensure data quality. The transcribers work according to your specifications and help you produce quality data. You don’t have to spend time editing transcripts or correcting mistakes and finding inconsistencies in the data.
- Helps with data analysis: Transcription services can also be useful for content analysis. With accurate transcription of interviews, qualitative researchers can perform better content analysis — identify patterns, themes, or other interesting characteristics in the text. This makes it easier to identify trends, important points, and other key information.
- Speed and efficiency: It can take hours for qualitative researchers to complete transcription on their own. There are instances where researchers are unable to pay due attention to their research project because of this. By outsourcing transcription tasks, you can save time and focus on important project tasks.
- Quick sharing of research findings: Qualitative research always involves more than one researcher working on the project. Accurate transcripts of the interviews and other recordings related to the research can easily be shared among the research team.
There are many automated transcription software available online. The automated option can help if you have time constraints or are simply looking to get your project done as quickly as possible. However, it can lead to costly errors, inaccuracy, inconsistency, and other mistakes. If accuracy is a priority, choose an academic transcription service.
Professional transcriptionists will capture the audio content correctly. A trained transcriptionist takes the time to listen and re-listen to the audio recording. This allows them to capture every single word and pause, ensuring that your message comes across as intended. In addition, they will understand pronunciations, identify the different speakers and name them correctly. They can provide both verbatim and non-verbatim transcription, whereas an automated transcription tool only transcribes what it hears.
Qualitative research project can involve many audio or video recordings. With transcripts generated by professional digital transcription agencies, researchers can get quality transcripts that clearly present all the data, making it easier for them to identify key information for their study. Transcription is a vital part of qualitative research. Reliable research transcription services can make their life easier and allow them to focus on their work.
General transcription services are used in various industries to convert video or audio content into text, either verbatim or non-verbatim. Transcription, which can be done using software or by human transcriptionists, presents a unique opportunity for businesses to get ahead by offering them the tools to communicate in ways that work best for them. Whether it’s an interview or a live webinar, the transcription helps to put content into the hands of today’s audience. Transcription services are categorized into general, medical, and legal. It is important that the transcription is done accurately because a small error could change the meaning and context of the entire transcript. This could have a negative impact on the business’s reputation, and in healthcare, such mistakes could prove fatal to patients. Automated transcription could be more error-prone whereas a professional transcriptionist can ensure maximum accuracy.
As such, it is important to understand how transcription is used in different industries. Let us see how some of the industries use transcription services:
- Academic Institutions: Academic institutions need accurate data and any error in the data can compromise the results of any scientific methods. Data is important for academic researchers and students. Any wrong data in research findings or publications can propagate misinformation and misguide students. When data is in the form of audio or video content, it needs to be converted into text for it to be usable. This is where academic transcription services come into play. Transcribing audio and video recordings help to preserve observations and interviews for scientific papers. With a high accuracy rate, these services can help you convert your recorded speech into text format within minutes. If you need it done faster, then you can opt for express or even real-time transcription services
- Podcasters, Marketers and YouTubers: For Podcasters, YouTubers and Marketers, transcription is vital because it plays a major role in Google Search. Transcripts provide SEO benefits, and also help websites rank higher on the search engine results page. Having transcripts helps improve discoverability, enhances user experience, shareability and helps you get backlinks, and also helps repurpose your existing content.
- Healthcare: Medical transcription allows doctors and other healthcare professionals to create detailed records of patient encounters without having to waste an enormous amount of time on manual note-taking. By converting audio recordings of patient visits into written form, medical transcriptionists can help physicians focus on providing care rather than preparing the transcripts.
- Legal: Lawyers often record interviews with witnesses, clients, and suspects for future reference. These might include discussions about specific cases or important details about new legal developments that could have an impact on a case. Transcription services enable attorneys to convert these recordings into easily searchable documents so they can quickly find the information they need when they need it.
- Mass Communication: Every year, thousands of interviews are conducted by news agencies and media houses, and they employ in-house transcribers to help them with their work or hire freelance transcribers to help complete tasks faster. Video producers, filmmakers or journalists also use transcription services to transcribe their videos for captions or translations.
- Market Research and Consulting Firms: These entities have to conduct formal interviews of various business products and services. These interviews are typically recorded and transcribed later using in-house or outsourced transcriptionists. Accurate transcripts add to the value of qualitative interviews. Market research and consulting firms can benefit from the services of a good transcription company that can provide accurate and clear records of the participants’ exact responses
Transcription is becoming increasingly popular in different industries, and businesses seek to leverage the benefits of general transcription services. When it comes to transcribing your business meetings or lectures, you might be tempted to do it yourself. However, the benefits of using a general transcription service far outweigh in-housing transcription or doing it yourself. For businesses that need to transcribe large volume audio or video files, outsourcing is a great solution. Not only does it save time, but it also ensures that all files are properly transcribed and formatted so there are no errors. With the help of transcription, anyone can access any data or information from anywhere at any time. Outsourcing to a transcription service provider allows you to have your files professionally transcribed at an affordable rate and they also proofread documents to ensure several levels of quality control. Transcription service providers also deliver the work within a short period of time
Video marketing is a popular strategy for all businesses looking to enhance their online presence and reach. With more and more people searching online to find a lawyer and legal services, law firms are also leveraging video marketing to target prospects looking online for legal answers. Along with quality written content and images, video supported by media transcription services can help lawyers build a high-performance legal website and gain a competitive advantage.
According to Wyzowl Research’s latest State of Video Marketing survey report:
- The amount of online videos people watch has almost doubled since 2018.
- As it strongly influences traffic, leads, sales, and audience understanding, marketers strongly believe video can boost return on investment.
- Consumers continue to use video as an integral part of their journey with brands and look forward to seeing more videos.
Video is the most re-shared form of content on LinkedIn. Creating videos can help law firms create a dynamic online presence and reach prospects. So, it’s not surprising that the Thomson Reuters 2021 State of Small Law Firm Report found that, among other things, most law firms plan to increase their spending on video marketing and social media marketing to generate more new business and attract prospective clients. Media transcription plays an important role in this process.
Before going into the benefits of transcription, let’s see how your law firm can benefit from utilizing videos:
- Create an impactful presence: Even a short video clip can create a lasting impression on the viewer’s mind.
- Reach out to potential clients: Informative videos for different categories of cases can prove useful to reach and educate potential clients from various industries.
- Build your brand: Posting polished educational, instructional, and marketing videos can serve as an authentic representation of your brand.
- Prepare and update presentations for client training: Video is an effective way to explain legal issues in terms everyone will understand with appropriate, current examples.
- Answer questions: Video can help you respond quickly to client questions
- Boosts SEO: A reliable video transcription service provider can help you leverage your video content to improve SEO and rankings on leading search engines.
Let’s now take a look at how transcription services support lawyers in video marketing.
- Makes your content searchable: Search engines will rank and surface video content for relevant queries if there is data describing the video. Providing transcripts consistent with the actual video content including the right keywords will help search engines understand what the video is about and index it into their systems. This will significantly increase the chances of someone finding your site in a keyword search. Make sure to also use unique thumbnails, titles, and descriptions for each video on your site. You can add the transcript of your video for the description and include a link to the original transcript if the entire transcript does not fit within the description box.
- Enhances your marketing campaign: Creating videos based on the issues that your potential clients are facing and including transcripts with appropriate keywords, will improve your online marketing campaign and increase your chances of being found online. For example, when someone searches “ personal injury attorneys near me,” transcripts are optimized with the right set of keywords that will lead them to your website. The greater the number of views and interactions your videos get, the higher they will rank for the targeted keywords.
- Expands your audience: Transcribing your videos makes the content accessible to blind, deaf, and hard of hearing people. According to the Centers for Disease Control and Prevention, nearly 16% of adults in the U.S.report hearing disabilities. The Hearing Loss Association of America (HLAA) reports that approximately 48 million Americans have some degree of hearing loss. The Americans with Disabilities Act (ADA) requires that when posting videos, an equivalent alternative be provided for people with disabilities. Transcribing your videos makes your content accessible to this audience. Video transcription helps people with disabilities:
- Grasp the message
- Learn and retain the information
- Refer back to it when needed
Descriptive transcripts provide video content to people who are both deaf and blind, making your content more visible and more popular. Interactive transcripts allow users to select text in the transcript and go to that point in the video.
- Allows media content to be effectively shared: Short, informative videos explaining a legal concept or the latest judgment or a pertinent legal issue are a great option. Transcripts will help your audience understand the information better. Videos with transcripts allow viewers and bloggers to comment on the content, quote from it, and share the information on social media. This will further expand your audience.
- Helps repurpose content: Companies providing transcription service online can provide accurate transcripts of your videos. This text content can be quickly and easily repurposed into other forms of content such as blogs, articles, reports, white papers, etc. Expanding the type of content posted online will increase your visibility and help grow your audience.
So go ahead and make video and media transcription a part of your digital marketing efforts. However, make sure that your law firm is using the right platforms to share your messages with the right people. Consider using a mix of popular video platforms such as Facebook, YouTube, Twitter, TikTok, and Instagram. Use different types of videos such as video introductions of yourself, your law firm, and your team on your website, live video Q & A, interviews with a thought leader, interactive videos, explainer videos, influencer videos, and so on.
Road shows are a key business strategy to exhibit the competence of management of the business. It showcases the products and services of the company by conducting local tours specifically for the target customers, prospects, investors etc. This is an era of digital marketing and the use of social media is also on the rise. So, there arises a question of whether road show promotions can really help boost your business or not. The answer is that road shows raise the awareness of the brand by spreading the word in an in-person and interactive format to a huge market that might not be necessarily internet-savvy.
Road shows require consistent efforts from the top brass of the company including the salespersons in coordinating the event and preparing multiple presentations with Q&A sessions to engage with potential customers and investors.Professional transcription services are imperative to accurately document the live speeches and presentations which will be in audio or video format. The transcripts are then uploaded to the organization’s archive.
Why do companies need road shows?
- Increases visibility of the brand as the uploaded copies of transcripts are accessed by media and prospects from the website. This enhances the authority of the brand.
- Enables face-to-face interaction with potential customers.
- Broadens the scope of sales from phone calls or e-mails to real interaction with the prospects.
- Helps to keep track of the market demand as people gathered to attend the road shows demand for the product or brand.
- Ensures social engagement which is crucial for understanding the tone of the target customers.
- Accelerates market influence by building trust.
It is clear that road shows can contribute to increased ROI. If transcription of road shows is outsourced to reliable companies, businesses can focus on core competencies and capitalize on these events. This helps companies to channelize the resources for planning tours to designated areas.
Why outsource road show transcription?
Live in-person meetings and discussions conducted during these promotional tours have vital information about the key trends in marketing, the goals of the business and future plans of the brand. It will be in audio or video format and there will be lots of information that has to be accurately recorded without missing out any significant data.
Transcription outsourcing companies make this task less tedious in the following manner:
➢ Accurately follows the thought system of the speaker
Road shows are an open forum event. There can be vehicular noises, music, loud applause and shouting from the crowd etc. Also, the speakers face frequent interruptions in the form of queries and requests from the crowd gathered for the event. The speaker might deviate from the core topic that is discussed. This makes the task of recording complex. But a professional transcriptionist is highly skilled and has the expertise to listen keenly and grasp the whole process. Aberration from what the speaker wants to address is undesirable as this negatively affects the vision of the brand. Accuracy in converting the audio/video format to text format enhances the reliability of the data. Subsequently, this is uploaded in the company’s website for future reference.
➢ Streamlines the flow of information
Road shows are attended by delegates from various industries. There can be roundtables, podcasts, presentations and other valuable content formats. The presentations come with a Q&A session. This has to be closely watched and listened to carefully as erroneous depiction of facts and figures is undesirable. Therefore, keeping up with the pace of the speakers is very important. Presentations transcriptions are essential to remove audible distractions that might occur when the presenters take long pauses to organize their thoughts. The written format of the presentation is then uploaded to the company’s website for a wider audience.
➢ Keeps track of the time frame
The transcription of road shows has to be strategically planned so that the document is completed before the next event. The copies of transcripts are sometimes distributed among the attendees of the upcoming event. Service-oriented professional transcriptionists ensure that the entrusted task is delivered within the agreed time frame.
➢ Guarantees success of the event
Maintaining a well-organized summary of the events and showcasing the same to investors make them inclined to do business with you. This indicates that the goal of organizing the event has been realized.
➢ Reduces the burden of cost
The right transcription outsourcing companies promptly convert the recorded audio/video files to text files. Businesses are not required to hire additional staff for handling transcription processes. The existing staff can focus on the successful completion of road shows.
The nature of marketing strategies is ever changing. Marketers often hesitate to introduce new tactics owing to the uncertainty involved. However, road shows are found to be effective in terms of reaching out to a wider audience to display products/services. Comparatively, the uncertainty associated with road shows is less. However, organizers have to thoroughly survey the route prior to the event and ensure the use of quality recording equipment for flawless transcription.
Conducting interviews to find and hire top talent is a major challenge for most organizations. Taking good interview notes is important. The conversation can be recorded and documented using interview transcription services. Transcripts are shareable, searchable, accessible and secure and can help HR managers make the hiring decision. Nevertheless, many managers also use a laptop or take notes by hand. Regardless of the medium used for note-taking, knowing how to do it effectively is important for a successful recruitment process.
Interview notes provide valuable insights about prospective candidates. Leveraging and analyzing this data can help HR managers evaluate candidates and make the right hiring decisions. In fact, according to a Forbes article, recruiting and hiring will become more data-driven as the digital revolution continues. The article notes that in 2022, companies are working hard to gain and retain a competent workforce in the face of a general talent shortage by focusing on proactive engagement, advanced screening, flexible workplaces, D&I and data-centric recruiting.
Importance of Documenting Job Interviews
When you are interviewing many candidates, taking notes and documenting answers to interview questions is crucial to distinguish between them. Key reasons why documenting employment interviews is important:
- Helps recruiters recall what happened or was said in the interview and in discussions with others who vetted the same person
- Helps make a clear distinction between the capabilities of candidates
- Provides a basis for scoring and selecting candidates
- Demonstrates commitment to nondiscrimination and fairness in recruitment and hiring
- Boosts candidates’ confidence that they are being properly assessed
The looming challenge businesses everywhere are facing in 2022 is the struggle to find and retain top talent, according to Forbes. That’s why recruiters need to hone their interview skills and hiring processes. Taking quick and effective interview notes can help managers make a confident assessment of all the candidates.
Strategies for Effective Note-taking at Interviews
- Put the candidate at ease: As the first step, you should build rapport with the candidate. Putting them at ease will help them provide the correct information without any hesitation or long pauses. Inform them at the outset that they too can ask questions.
- Explain why note-taking is essential: Tell the candidate that you are taking notes to remember what they said.
- Listen actively: Stay engaged in a positive way instead of just reading questions from a list. Maintain eye contact, listen intently, and ask follow-up questions.
Taking Good Interview Notes
- Ask questions from a pre-prepared list: Ask questions in the following order: fact-based and behavioral and situational or hypothetical questions (Inc. magazine). Fact-based questions relate to the candidate’s technical skills and experience. Behavioral and situational questions are those that will give you an idea about how the candidate would react to or handle stressful situations, e.g., “Can you tell us about a goal that you were unable to meet and how you handled the situation?” or “If a conflict arose between two coworkers during a project, how would you handle it?” Make sure you document the answer correctly.
- Be brief: It’s not necessary to take down every detail. The focus should be on correctly documenting the candidate’s qualifications and specific skills.
- Ensure legibility: As other persons may be involved in the hiring decision, make sure the notes are legible. This is also important in the case of litigation.
- Document only relevant matters: It’s important to document only matters that are pertinent to the candidate’s qualifications and their relevancy for the position. Be accurate and document the meaning of what someone says. You don’t have to note down every “and,” “the,” “also” and “but”.
- Ask the candidate to clarify anything that was misheard: Ask the candidate to repeat anything that was not clearly communicated or misheard. It can happen that the candidate’s response is unclear or that he/she was talking too fast. In that case, ask them to say it again. You can say, “That sounds important, can you please repeat what you said”. Without clarity in communication, it can be hard to make the right hiring decision.
- Mark the positive points: After the interview is done, examine the notes and highlight the main points. The best time to annotate your notes is immediately after the interview.
Once you have finished asking the questions, discuss the position to be filled. Ask them why they think they would be a suitable candidate for it and how they can contribute to the organization. Make sure to leave space to make notes on these matters.
As mentioned earlier, there are various options to take notes such as using paper and a pen, making a soft copy on a computer, or recording the conversation and getting it documented with the help of an online transcription company. Using interview transcription services is a practical option for HR managers as it will allow them to focus on the job at hand – finding and hiring top talent for the company.