In any business, people will come and go. Often, these “leavers” will be your top employees. Regardless of why they left, they usually leave a skills gap in your organization that needs to be filled. Your new hires then fill this gap and business continues as usual.
That is until a new position opens up that you know a former employee would be perfect for. Should you reach out and rehire them? If they come to you with a desire to return, should you let them? It’s worth considering because you’ll enjoy several benefits by welcoming them back into your company.
In this guide to boomerang employee benefits, you’ll learn all you need to know about rehiring your corporate alumni.
What is a boomerang employee?
The basic definition of a boomerang employee is a former staff member who returns to your employ. This trend has become increasingly common in today’s workforce as both the employer and the employee recognize the value of this arrangement.
Boomerang employees often return with valuable experience, industry knowledge, and an understanding of the company culture. This makes their transition back into the organization smoother compared to new hires.
7 benefits of hiring boomerang employees
If you are still uncertain about whether or not hiring a boomerang employee is a good idea, have a look at these benefits.
1. Familiarity with company culture
A major benefit to hiring boomerang employees is that they are already familiar with the company’s culture, values, and vision.
All organizations undergo various changes over time. That is one of the many reasons why you should keep all employees (including your former employees) up-to-date with developments in the company. A corporate alumni association is a great asset here, having a network allows you to communicate quickly and effectively.
2. Recruitment cost savings
Rehiring a boomerang employee instead of finding new employees on normal recruiting channels is extremely cost-effective. The Aluminati network makes it easy for your HR team to get in touch with alumni you want to rehire. It is the only platform that automatically links appropriate candidates with vacancies. This brings you recruitment cost savings you can’t afford to ignore.
Organizations can save as much as $50,000 by rehiring a former employee from their alumni network. The headhunting fee for top executives is a major expense that now no longer applies. However, you also save resources that are otherwise used for hiring, onboarding, and training.
Boomerang employees increase efficiency and productivity, as they return with skill sets they acquired while working elsewhere after leaving your company. These new skill sets cost your company nothing, yet the value they add to your organization is priceless.
3. Smooth and fast onboarding
Not only is the recruitment phase less expensive but the onboarding process is also streamlined. If the boomerang employee is being reinstated in their previous role, or a very similar position, they already know what’s required of them.
Aluminati’s network can be used as a talent management system for onboarding top talent (including your boomerang employees). Fortunately, former employees need a shorter integration period than other employees who are new to the organization.
4. A former employee has a proven performance
Regardless of why your high-caliber employees leave, they have a proven performance record and take valuable skills with them.
Stay in contact with them, and keep your alumni database up-to-date. By luring them back with a new job, not only can you take advantage of the skillset learned from their time at your organization, but also the skills and knowledge gained from positions held since leaving the company.
5. Fresh perspective
Returning employees often bring with them fresh perspectives, valuable insights, and new solutions to old problems that current employees don’t see. It is all thanks to their career path that progressed after they left your company.
It has exposed your former staff members to new ideas, new skills, and different approaches to common issues in your industry. This is why, even if they don’t wish to become boomerang hires, your corporate alumni are useful for mentoring your current employees.
Aluminate for Enterprise offers a peer-to-peer online mentoring program to help you reap the benefits of your top alumni members and boomerang employees.
6. Established relationships with colleagues
Boomerang employees are already well-acquainted with former employers and ex-colleagues. Many of your boomerangs would have maintained connections with other employees, and this is almost guaranteed if you have a network that facilitates this.
The Aluminati Enterprise network allows you to create groups for your alumni and current employees. These groups, based on geography, work-related topics, or outside interests, help your current and former employees stay in touch with one another, meet up, and collaborate.
Organized events that bring alumni and new employees together further solidify the bond between your ex-employees and the company. When that employee returns, those relationships are as strong as ever. This will enhance teamwork and collaboration at work while boosting employee morale.
7. Enhanced loyalty
One of the most notable benefits of boomerang employee rehiring is enhanced loyalty. Unlike other new hires, boomerang workers arrive already loyal to the workplace. Employee loyalty is something that takes time to build, but with boomerang workers, employee loyalty is already assured.
This is why so many leading organizations choose to create platforms where all employees, including former employees, can communicate, cooperate, and collaborate.
Maintaining that type of connection also maintains loyalty to their teams, and the company at large. Whether a boomerang employee returns to their old job or is taking advantage of a new role where they previously worked, the result is the same. They will have retained that loyalty your company worked so hard to build.
Streamline hiring boomerang employees with the Aluminati Enterprise Network
Boomerang employees bring your organization a host of benefits on their return. This is why it’s crucial to stay in touch with all your past employees. Keeping your alumni in touch, engaged, and informed will largely increase the chances that they will boomerang.
This process is much simpler when you have a corporate alumni program and enterprise social network for keeping the lines of communication open. Aluminati’s platform allows you to build a custom social space for all your corporate alumni and employee communication needs.
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