The current talent shortage and low unemployment rates are driving many companies to try even harder to attract quality (and experienced) candidates who are already employed elsewhere. From offering higher salaries, perks, more benefits and greater and faster growth opportunities, it’s working.
But it’s not just the sparkle and shine of a new job that causes people to leave. Life changes and circumstances are just as compelling, as are contract endings for temp workers and seasonal hires.
Sometimes, despite your best intentions, your employees may leave.
When this happens, you as a business owner are often left scrambling to fill their roles from a waning active job market. The problem
What is the boomerang hiring trend?
Boomerang hiring is the practice of hiring former employees who left your company and now want to rejoin. This is particularly driven today by Millennials, who see a world of opportunities they want to experience. But a Workplace Trends report showed that close to half of Millennials would consider returning to a former employer. That same report revealed that nearly half of HR professionals surveyed said their company previously had policies against hiring former employees.
But while boomerang hiring used to be looked down upon, a survey of 1800 HR professionals revealed an interesting trend trend--today, 75% of HR professionals and 65% of managers are more accepting of hiring boomerang employees. If they were good employees whose presence was missed, there are plenty of good reasons that boomerang hiring is a great idea. Here are a few.
Why boomerang hiring can be a great move
- You already know what you’re getting
As a business owner, it’s always a hard day when a good employee chooses to leave the company. You’re losing finely honed efficiency, productivity and knowledge that can’t be easily replaced--especially in the current job market. When a good, former employee wants to be rehired at your company, you can bet they’ll produce the same quality of work or better. And that means less stress of not knowing what they’ll be like once hired.
- They know how your company operates
From knowing their way to the copy machine and coffee pot, understanding your company vision and mission and knowing how you like things done, boomerang hires have firsthand knowledge of what it takes to succeed at your company. For you, it means shorter onboarding time, reduced training costs and an already solid rapport.
- They bring more to the table
Boomerang employees have more than the knowledge that they left with. After working for another company, they may have gained even more knowledge and experience that they can now put to work for you. Their new connections may even become clients of your company.
- They’re more likely to stay
They left your company once before in search of something else--and that life was found wanting. Now, for whatever reason they came back to you. Maybe it was your awesome culture. Your training programs. Or the rapport they’ve built up with colleagues Whatever it was, they decided life was better at your company. With that experience behind them, they’ll be more likely to keep their eyes focused on growing with your company than searching for greener pastures.
Boomerang hiring can be a great move for your company, so don’t write off a returning former employee without considering the merit and great value that they can bring to you and your business upon their return.