Hiring the right people is tough. You need more than just skilled candidates, you need individuals who fit your culture, meet project needs, and stay for the long run. But tight budgets, high turnover, and long onboarding makes it even harder.
While companies always try to secure the best candidates, the conventional hiring process is costly and time consuming. But what if there was a smarter, faster and better way to acquire top talent without exceeding budgets?
What Is Boomerang Hiring and Why Are Top Companies Adopting It
Boomerang hiring is the practice of rehiring former employees. It is becoming a significant global trend, with a study by Harvard Business Review revealing that nearly 28% of new hires across industries are returning employees. In certain sectors, this figure rises to 33%, highlighting the growing preference for rehiring familiar talent to reduce costs and streamline onboarding.
How Boomerang Hiring Wins Over Traditional Recruiting
Boomerang hiring is changing the way companies recruit. This approach saves time and costs, as returning employees bring proven skills, require less onboarding, and fit easily into the company culture, enhancing loyalty and retention.
Here’s what companies are reporting from their boomerang hiring efforts:
- Hired twice as fast while reducing the cost by up to 67%
- Alumni rehires hit productivity up to 70% faster than fresh hires.
- Rehires had almost double (2X) the retention of new hires.
How Businesses Are Setting Up a Boomerang Hiring System
To support boomerang hiring, businesses are creating hiring focused systems through strong corporate alumni programs. Here’s how they’re making it work:
Centralized Alumni Data
An up-to-date alumni database is essential for tracking former employees’ skills, roles, and career growth. Solutions like Vaave help automate this process, keeping profiles accurate and making key information easily accessible.
Transparent Rehiring Policies
Clear and consistent policies on eligibility and process help build trust. Communicating these policies ensures alumni understand their options and are more likely to consider returning.
Match Talent with Roles
Matching alumni to open roles is key to rehiring. AI tools like Boomerang AI efficiently match alumni profiles with open roles, streamlining shortlisting, saving time, and reducing bias in the process.
Keep Alumni Engaged
Companies that stay connected with alumni through content, events, and updates build stronger relationships. Platforms like Vaave help automate and personalize this engagement, keeping interest high and opportunities open.
Measure What Matters
Tracking metrics like rehiring success, retention, and performance helps organizations refine their boomerang hiring strategies. Alumni platforms with built-in analytics offer valuable insights to support this process.
Is Your Organization Missing on Top Talent?
Boomerang hiring offers a smarter, faster alternative to traditional recruitment. However, managing an effective alumni program in-house can be resource-intensive. Automated solutions like Vaave offer a cost-effective way to manage alumni relationships, cut manual work, and gain greater value from your network.
Schedule a free, tailored demo today and discover how your alumni network can drive real value for your organization.