It’s no secret – the world of work has changed. Employees seldom remain loyal to a single organization throughout their careers. Although it used to be a major red flag, “job hopping” is now a way of life. That fluidity stems from the fact that critical skills are in short supply and a recovering economy has given employees the freedom to follow their interests and passions.
This increase in job flexibility and transience has also given rise to the “boomerang” employee.
Boomerangs are defined as employees who leave a company and eventually make their way back into the fold. Whether they left voluntarily, such as for another job opportunity or to stay home with a new baby, or involuntarily, due to restructuring, here are 6 major benefits that boomerang rehiring brings:
You’ll Save Money
Recruitment costs are lower with boomerangs because the employee and their experience is already well-known. In fact, hiring a boomerang employee typically costs organizations a third to two-thirds the amount that a brand new employee does.
Rehires Hit the Ground Running
Onboarding time is shorter since boomerang employees have a familiarity with the company. And as an added benefit for HR, their data may even still be preserved in the company’s talent management systems.
Boomerangs are Easier to Retain
Retention rates tend to be better because rehires have seen what life is like outside the company. Often, they didn’t necessarily like what they saw. And either way, they’ve made a very informed decision to rejoin your organization.
Training Needs are Minimal
Training costs can be lower because not only does a boomerang employee often acquire new skills at a previous job, but extensive training on organizational practices and procedures is often unnecessary.
They Bring New Perspective
Boomerangs are the best of both worlds. They know your organization well, but they also have a fresh viewpoint to bring to the table from their time elsewhere. Boomerangs are employees who have new ideas and already know how to get the job done.
You Know They’ll Fit In
If you’ve kept good records, you can rest assured that cultural fit is guaranteed. Boomerangs rejoin organizations with a network in place and there are no question marks about whether the culture will meet their expectations.
It’s hard to argue with the growing number of organizations that make boomerang employees a tactical focus for their recruitment strategy. Rehiring saves time and money, and also eliminates many new hire risks.
Finally, if you’re looking for techniques to put your own rehiring program into place, read on with our eBook: Recruiting Strategies for Hiring Boomerang Employees.