Hiring former employees (also known as boomerang hires or return hires) used to a relatively rare practice not too long ago – but now, it is an increasingly widespread practice. The culture around seeking employment is also changing. From one where seeking new employment meant cutting ties with the company the individual is leaving, now it is one where connections are more flexible and open-ended, providing several benefits for employees and employers alike.
Boomerang hires can provide many advantages for management professionals and can bring invaluable insight and perspective to your work. In this article, we discuss the 5 main benefits of rehiring professionals who formerly worked for your company and the possible effects of their return on your business.
1. Familiarity Between Employee and Management
When hiring a former employee, you will already be familiar with their skills, work ethic, and personality. This significantly decreases any elements of risk during the recruitment process, as would be the case with new hires. Hiring unfamiliar candidates means you are taking a chance, whilst a boomerang hire entails a certain amount of predictability on the way their abilities can benefit your business.
2. Less Training & Saves on Recruitment Costs
Linking to the first benefit, a return hire will already be familiar to you – both personally and professionally. This means that besides their personalities and skills, you will already know how they perform regarding your business’ hierarchy and procedures. This means that less time and resources need to be spent on extensive training and induction periods (although a refresher might be needed).
This would have to be allocated for new hires as part of recruitment costs. Other areas where one can reduce costs by utilizing return hires include recruitment agencies and temporary work agencies.
3. More Commitment & Boosts Morale
When considering a boomerang hire, whether it’s through your own request or theirs, it is important to note that their return means that are likely to work with more dedication than before. Remember, when someone considers returning to a situation they previously left, it means that they now value what they didn’t appreciate or notice before.
This, in turn, gives a more favorable light on your company to other employees – which boosts overall morale. It also shows employees that you value individuals and their work, no matter how their relationship develops with your company
4. Benefit From New Skills
Whilst away, boomerang hires will build on their skills, acquire new ones, and create new experiences with other workplaces. This also includes training, workshops, seminars, etc. – which amount to an invaluable amount of information and expertise that can greatly benefit your company. This also links to needing them requiring less training.
5. Provides an Opportunity for Creating Talent Pools
If you’re looking to easily benefit from the capabilities of return hires, your team needs to establish a talent pool or alumni network – the practice of keeping in touch with former personnel, including employees, contractors, and interns. This will make the rehiring process simpler and can provide opportunities for them to reach out as well.
Alumni networks can be simple, such as a newsletter, or they may be more robust and expansive, such as a platform like Alumni Reach. In these networks, management can use engagement tools to ensure that every worker (both previous and current) is kept up to date on any recruitment efforts. They can also use these networks to stay engaged with alumni and make note of their new opportunities and find ways to apply them to the benefit of the business – such as collaborations, partnerships, or more.
Apply The Advantages of Boomerang Hires Through Alumni Reach
Networking with old personnel and turning them into return hires has never been easier with platforms like Alumni Reach. We provide a variety of features, tools, and communication opportunities that encourage alumni engagement, and keep your people connected – no matter where they are in their professional life. Find out more about how you can benefit by contacting us or booking a demo today.