Navigating the recruitment process is a bit like searching for buried treasure. You follow a map of resumes, hoping to uncover the talents that will enrich your organization’s coffers. But imagine if, amidst the hunt, you stumbled upon a chest of treasures you thought you’d lost? That’s the magic of Boomerang Hiring!
Did you know that Boomerang Hiring can save organizations up to 67% in recruitment costs?
Embracing the Power of Boomerang Hiring
The act of Boomerang Hiring involves the process of re-engaging former employees back into the organizational framework. Employees leave organizations for various reasons, such as career shifts, maternity leave, pursuit of new opportunities, or family-related considerations like relocating with a partner. Some seek a change after dedicating 15-20 years to the same role. Before you can successfully embrace Boomerang Hiring and associated return to work programs, the first step is to identify why the employee left, a crucial step for tailoring your approach.
Boomerang workers accounted for 4.5% of new hires in 2021, up from 3.9% in 2019 – LinkedIn data
Why is Boomerang Hiring the Solution You Need?
Boomerang Hiring is a powerful tool in the talent acquisition arsenal that guarantees effective contributions and success. These individuals possess a wealth of knowledge, experience, and an unparalleled understanding of your culture, policies, and procedures. Their inherent familiarity allows them to hit the ground running, championing inclusivity, such as enabling individuals, especially women, who temporarily left the workforce to resume their careers, thereby fostering diversity and immediate impact from day one.
- Cost Savings: Up to 67% reduction in expenses.
- Reduced Onboarding Time: Swift integration, enhanced productivity.
- Risk Mitigation: Cuts hiring risk, saves 30%+ in first-year earnings
- Culture Continuity: Maintains organizational culture.
- Thought leadership & Networking: Brings valuable connections, fresh perspectives.
- Enhanced Retention: Bolsters loyalty, Ensures stability.
- Diversity & Inclusion: Enhance inclusivity, re-attract workforce talent
‘75% success rate for lateral Hires, a perfect 100% for Boomerangs.’ – CHRO, MakeMyTrip
Strategies to Maximize Boomerang Hiring:
Define Boomerang Hiring Policies
Establish transparent Boomerang Hiring policies, outlining eligibility criteria and the application process. Honesty and fairness are essential to ensure former employees understand what to expect. Clarity breeds confidence, encouraging their return.
Smooth Exit Process
A smooth exit process is vital for successful boomerang hiring. It includes exit interviews, knowledge transfer, positive farewells, ongoing communication, alumni network integration, clear exit procedures, and exit surveys. This process leaves the door open for potential returnees and demonstrates a commitment to employee satisfaction and growth, enhancing future talent reacquisition.
Build a Strong Alumni Network
Cultivate a dynamic alumni network to foster Boomerang Hiring success. For a comprehensive guide on how to start and manage an alumni program effectively, check out our article, “The Ultimate 7-Step Guide to Launch Your Corporate Alumni Program.” By leveraging technology with an alumni website and a strong social media presence, complemented by in-person events, you’ll create a robust community, keeping former talents informed about your organization’s developments and enticing career opportunities.
Form Dedicated Boomerang Hiring Team
Form a dedicated Boomerang Hiring team tasked with maintaining an organized database of former employees. Their mission is to engage high-performing alumni, understand their evolving aspirations, and facilitate seamless rehiring. This team will lead outreach efforts and streamline the rehiring process.
Engage with Former Employees
To maintain good employee relations and build relationships with former employees, it’s essential to proactively rekindle connections. Utilize Alumni Networks & Social media as channels to engage and stay in touch with former employees. Additionally, employ targeted emails and direct messaging to effectively communicate with former employees, fostering lasting relationships.”
Create Rehiring Recruitment Drives
Take a proactive approach by launching recruitment drives aimed at former employees seeking new opportunities. Reach out to recent departures and those expressing interest in returning. Leverage social media to identify active job seekers among former talents and position your organization as their top choice.
Use Automated technology solutions
Automated technology solutions streamline the entire employee journey, integrating exit processes, alumni network engagement, and recruitment drives into a unified system. This holistic approach centralizes communication, automates outreach, and identifies ideal rehire candidates based on data, ensuring the right person for the right role. This efficient automation enhances the effectiveness of your boomerang hiring strategy.
Boomerang Hiring is a hidden gem in the world of recruitment. When former employees return, they bring a wealth of experience, knowledge, and loyalty. Moreover, they instill a culture of continuous improvement, innovation, and adaptability within the organization. The Boomerang Hiring strategy unquestionably stands out as an invaluable, yet often overlooked, opportunity for organizations to elevate their recruitment efforts and reap the rich rewards of seasoned talent returning to the fold.
At Vaave, we specialize in Alumni solutions tailored to empower People-First Organizations. Our suite of solutions includes strategic tools like Boomerang Hiring, allowing organizations to re-engage former employees and harness the expertise of seasoned talent within your Alumni Network. Connect with us at hello@vaave.com to explore how we can elevate your recruitment and Alumni engagement efforts.