The Boomerang Employee was once taboo but is now a growing recruiting trend. Companies are engaging their Alumni in an effort to woo them back to their organization.
One recent study found that 8% of people are now re-employed at the company they originally left.
Of course, employees willing to return to their former organization is a great reflection of a strong internal culture.
What Is A Boomerang Employee?
A Boomerang Employee is defined as any employee who returns to work for a former employer. It is not applicable only to Full-Time positions. For organization who leverage seasonal employees, the benefits of having the same people do your seasonal work, year after year are many. Think of all the money your company could save on recruitment and training alone.
Why Boomerang Employees Matter:
The days of getting a job and staying at it for forty years and then retiring are long gone. Adults typically make several major career changes during their working years.
With that much moving around going on, HR professionals will always have personnel needs, and if an applicant already knows the job and the company culture, they are the most likely candidate to fit in.
5 Reasons Boomerang Employees Matter:
- Significant reduction in recruiting costs.
- Accelerated time to value
- Better job suitability
- Longer period of employment
- External/Outside Thought Leadership
The Reduction Of Risk:
Perhaps the most famous boomerang of all is Steve Jobs, rehired 12 years after being let go from Apple. Whilst
Things may well have changed during the time of separation but there’s still some removal of the fear of the unknown for both sides. The speed at which the employee is likely to be up and running at full productivity is likely to be faster. According to an article by HBR called Cultivating Ex-Employees, between the lower effort needed to recruit and train ex-employees and their shorter ramp-up time to full productivity, companies can cut costs by up to 50 percent per hire by employing a boomerang over a typical applicant.
There’s also no doubt that the impact on your employer brand is a positive one- it can only reflect well on a company when an employee who has experienced work with other companies makes the choice to apply back to a former organization.