5 tips for boomerangers returning to former companies
- Some employees are reconsidering their decision to leave a company
- Up to one-third of new hires are old hires
- Boomerangers offer advantages to employers on the hunt for talent
- When you leave a company, don’t burn your bridges
- Boomerangers will be a big trend in 2023
From SeasonedPros.ca Insights Lab
The Great Resignation saw the exodus of many employees as they re-evaluated what was important during pandemic lockdowns.
But as with many sweeping trends, we are now seeing an interesting counter-trend: The Great Boomerang.
It seems that some employees who quit their jobs are having second thoughts. Employers who are still feeling the talent crunch are more than happy to take them back.
The Great Boomerang
Quitting might have seemed like a good idea in during pandemic lockdowns, but the economy has changed since those days and workers are rethinking their decisions.
Inflation, fuel costs and rising costs of rent and home ownership changed the game for employees. Many are eager to return to the jobs they quit.
According to LinkedIn, almost five percent of new hires are boomerangs. Other recent surveys show that up to 30 percent of new hires are in fact old hires who have returned.
Boomerang employees are low-hanging fruit for employers
Time was when an employee left a company, that was it. They weren’t welcome back again. Many companies had policies not to rehire former employees.
But with talent in short supply, returning employees offer companies a rich source of talent and familiarity with the organization.
These employees understand the company, its products, services, customers and values. This reduces onboarding, time and training. Former employees are ready to hit the ground running.
Boomerang employees are considered lower-risk hires because they are already known to the employer. They can also bring new insights acquired during their time outside the company.
Boomerangs return as contractors
Many of these employees have started their own companies and are marketing their expertise and experience as contract workers.
They enlist their services with companies that specialize in sourcing contract talent and all of a sudden they are hired back by former employers who are outsourcing to find the right talent.
This arrangement can result in better compensation on a per diem or an hourly basis for the returning employee who returns as a contractor.
5 Tips for Boomerang employees
If you’re thinking of returning to an old employer, keep these tips in mind:
1. Don’t burn your bridges – When you decide to leave a job, be honest and transparent with the employer. Thank them and make sure you mention keeping the door open for some point in the future.
2. Stay in touch – Keep your former employer and colleagues up to date with your new roles and activities using a network like LinkedIn and through occasional coffee dates. Stay in the loop with your old organization. New opportunities may interest you, especially if the company is hunting for employees and contract workers.
3. Upskill and reskill – Take the opportunity to advance your skillset or develop new skills. Take a course or teach a course online. These skills will be attractive to your old employer if you choose to return.
4. Bring insights back to the workplace – Share your learnings and outside perspectives when you return. These insights can give rise to innovation which could be valuable to the employer.
5. Return on your own terms – You left your job for a reason. If you choose to return, make sure you are doing it for the right reasons. This is where contract arrangements can be valuable. They are not permanent and give you the flexibility to negotiate the terms of employment.
Boomerang employees offer advantages for talent and employers. We will be seeing more of this trend in 2023.
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