The 34-year-old has played 288 games for the Saints since being drafted in the 1998 AFL Draft at pick 11.
Now in his 16th season at the club, Hayes says it's time to start contemplating his future beyond 2014.
"I guess [retirement] is something that you think about a bit," Hayes said on Monday morning.
"You have a few discussions with the people who are important to you. Obviously your family and the football club will be part of that as well.
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"I haven't really sat down with Richo (coach Alan Richardson) at this stage, it's been a bit more informal. But I guess in the next three or four weeks we'll probably get to a decision."
The Saints are well and truly in a rebuilding phase and were handed a 96-point thrashing by Geelong on Sunday, a loss Hayes said wouldn't impact on his decision.
"It's always a decision that you make in conjunction with where the club is at, where the team is at and also where my body's at," he said.
"We've had a few tough losses this year, but I still see my role as being pretty important and vital to the team going forward, just in terms of leadership on-field.
"We had 10 guys who played under 20 games on the weekend, so there needs to be a little bit of stability and a bit of experience out there with them and that's where I see my role."
The Saints face West Coast at Etihad Stadium on Sunday and will be hoping for plenty of improvement in their performance.
Hayes said he took some solace in upset wins for Melbourne and the Western Bulldogs over the weekend, and hoped St Kilda would be on the rise in the near future.
"I've seen it turn very quickly," he said.
"There's been some examples this year with Melbourne and a few of these teams, but in 2002 I think we finished last on the ladder and two years later we were a kick away from a Grand Final so it can be done.
"There's a lot of talent on our list but they just need to be playing games together.
"It's not just going to happen, we've got to work hard and all players need to be prepared to do that."
Twitter: @NatEdwards
