Returning to the fold: examination of the reasons behind former employees seeking their previous positions
Rehiring boomerang employees - those who return to their previous workplace within a few years of leaving - can offer numerous benefits to companies. According to research by Visier and Harvard Business Review, a significant percentage of new hires in the US are boomerangs.
One of the key advantages of rehiring boomerang employees is cost savings. The recruitment, interviewing, and onboarding processes for these returning employees are typically less expensive compared to hiring new talent. This can lead to savings of 20–30%.
Another advantage is faster productivity. Boomerang employees often reach full efficiency up to 25% faster than new hires, as they already understand the company culture, systems, and processes, minimising the need for extensive training.
Moreover, boomerang employees may bring new skills and perspectives to the company, having acquired new experiences during their time away. This can lead to fresh, innovative ideas and a broader range of expertise within the company.
Rehiring boomerang employees can also improve the company's reputation by demonstrating a supportive work environment and a culture that values previous contributions.
To successfully rehire boomerang employees, it's essential to assess the reasons for their departure and ensure that any issues have been addressed. Updating employment contracts and role descriptions as necessary is also important to reflect any changes in the company's needs or expectations since their last tenure.
Furthermore, although boomerang employees are familiar with the company, they may still need some integration support, especially if the workplace culture or processes have evolved during their absence. Communicating with current staff and encouraging boomerang employees to share their new experiences and skills can help enhance team performance and innovation.
However, there are also risks associated with rehiring employees who left due to company culture or specific people, as they may leave again if nothing has changed. The "boomerang effect" refers to employees who return to their previous workplace within 36 months of leaving, and internal employee transformation can pose a risk, as they may struggle to fit back into the old environment and corporate values after adapting to a different culture and new approaches.
Implementing a system to track former employees is hindered by the diversity of databases and the quick outdating of information. Exit-interviews are currently not a full-fledged HR tool for bringing employees back, as they are primarily aimed at getting feedback and parting ways correctly.
In conclusion, rehiring boomerang employees can offer cost savings, faster productivity, new skills and perspectives, and improved employer brand. To maximise these benefits, it's crucial to assess the reasons for departure, update contracts and role descriptions, focus on integration, communicate with current staff, and leverage their new skills. Despite the risks, the benefits of rehiring boomerang employees can significantly outweigh the potential drawbacks.
In the realm of business and finance, rehiring boomerang employees can lead to cost savings as they require less funds for recruitment, interviewing, and onboarding, potentially resulting in savings of 20–30%. Additionally, boomerang employees often exhibit rapid productivity, with faster assimilation into the company culture, systems, and processes, contributing to the field of education and self-development by demonstrating effective career-development strategies.
