Discover the advantages of recruiting former employees.

Increasingly, keeping the door open to re-hire former employees is a way for employers to fill positions and grow business. Here’s a look at the trend and what to consider if you want to hire boomerang employees.

Who hires boomerang employees—and when?

Rehires are 33% of “new hires” in retail, 25% in manufacturing and 14% in tech, according to a Harvard Business Review report. Also, boomerang employees are more likely to be managers. Employers often extend rehire offers one year after the employee resigned.

Why hire boomerang employees

Employers find that welcoming boomerang employees back to the roster reduces hiring and onboarding expenses. Plus, former employees start the job with a network of relationships in place that helps them be productive more quickly.

Considerations when rehiring a former employee

Factors to weigh when considering a boomerang employee:

• Did the employee leave on good terms?
• What was the reason for the employee’s departure? Personal reasons? To get new skills? Workplace factors?
• How adaptable is the person, especially if the work environment or processes have changed since they were last part of your team?

Take a comprehensive approach hiring boomerang employees

Hiring boomerang employees requires a comprehensive approach. In addition to considering how the rehire will fit back in, companies need to consider how this move will affect existing employees. Employers often entice boomerang employees with pay increases and promotions. When doing so, they need to ensure equity for long-term employees, including pay and growth opportunities.

Also, knowing that people tend to boomerang after one year, employers should have programs in place to ensure new hires remain engaged as they enter their second year.

Maintain healthy relationships with departing employees. Let valued contributors know that you would welcome them back.

Managing payroll

Of course, hiring new employees involves expanding payroll. One way many companies ensure they can cover payroll is by setting up a Consumers business line of credit. This financing tool allows business owners to borrow, pay back, and re-borrow funds as needed.

 

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