What are the Benefits of Hiring a Boomerang Employee?

Employee turnover is a common challenge faced by organizations across industries. However, a growing trend in recent years has shed light on the benefits of rehiring former employees, known as "boomerang employees." Boomerang employees are individuals who leave an organization but later return to work for the same employer. This article delves into the advantages of hiring boomerang employees, backed by statistics and credible sources, demonstrating why organizations should consider embracing this phenomenon.

1. Familiarity with the Organization:

One of the key advantages of rehiring boomerang employees is their familiarity with the organization. These individuals possess firsthand knowledge of the company's culture, values, procedures, and processes. According to a study, 76% of HR professionals consider boomerang employees to be a good or excellent source of talent. Their existing knowledge can significantly reduce onboarding and training time, allowing them to quickly assimilate into their roles and become productive contributors.

2. Cost and Time Savings:

Bringing back boomerang employees can lead to substantial cost and time savings for organizations. The rehiring process for former employees is often quicker and more streamlined compared to recruiting new candidates externally. According to a survey, 85% of HR professionals agree that boomerang employees require less training. By leveraging their prior experience and familiarity, boomerang employees can hit the ground running, requiring minimal supervision and reducing the overall cost of talent acquisition.

3. Enhanced Loyalty and Engagement:

Boomerang employees tend to exhibit higher levels of loyalty and engagement compared to new hires. Research from the Work Institute's 2020 Retention Report states that 39% of boomerang employees who return to an organization report higher job satisfaction. Their decision to return suggests a strong affinity for the company and its culture. Rehiring such employees fosters a sense of belonging and enhances team cohesion, leading to increased productivity and a positive work environment.

4. Expanded Networks and Knowledge Transfer:

When a boomerang employee returns to an organization, they bring with them new experiences, skills, and expanded networks. These individuals often acquire diverse perspectives and expertise from other organizations during their absence. The American Psychological Association highlights that boomerang employees can facilitate knowledge transfer and the exchange of best practices, leading to innovation and improved processes. Their fresh insights can positively impact the organization and help drive growth and competitiveness.

5. Boost to Company Reputation:

Embracing boomerang employees can also have a positive impact on an organization's reputation. When former employees return, it signifies that they hold the company in high regard and perceive it as an attractive place to work. This positive sentiment can create a ripple effect, enhancing the organization's employer brand and attracting potential talent. According to LinkedIn's Global Recruiting Trends report, 64% of organizations have an alumni network to foster relationships with former employees. This focus on maintaining connections reinforces the organization's commitment to its people and contributes to a positive corporate image.

Why HireQuotient

HireQuotient is an advanced HR-tech platform that brings about a revolution in the recruitment process through its comprehensive range of tools. These tools significantly enhance and streamline various stages of recruitment, greatly improving efficiency and effectiveness for recruiters.

A standout feature of HireQuotient is EasySource, an automated talent sourcing platform that simplifies the task of discovering and engaging potential candidates. By integrating ChatGPT and Generative AI, EasySource facilitates seamless communication and outreach, making it easier to find the right talent.

In order to assess candidates, HireQuotient offers EasyAssess, a platform specifically designed for skills-based assessments. Recruiters have the ability to customize assessments for non-technical roles, and EasyAssess generates data-driven reports with candidate results. This empowers recruiters to make informed decisions based on comprehensive insights.

To streamline the interview process, HireQuotient introduces EasyInterview. This platform enables recruiters to conduct one-way video interviews, eliminating the difficulties associated with scheduling. Knowing that the interview process is efficient and flexible, recruiters can save valuable time and redirect their efforts towards more meaningful activities.

Conclusion:

Hiring boomerang employees offers numerous benefits, ranging from their familiarity with the organization and reduced training costs to their enhanced loyalty and expanded networks. Organizations that embrace the concept of boomerang employees not only benefit from their knowledge and skills but also strengthen their employer brand and reputation. By considering the advantages outlined in this article and also understanding more about employee engagement, organizations can tap into a valuable talent pool and build a sustainable workforce that thrives on the experience and dedication of both current and boomerang employees.