Amid a shortage of talent, trying to bring back former employees is one strategy businesses should try. And this may be no better time, according to a study.
According to recruitment consultancy Robert Walters, nearly four in five (79 per cent) of employees who left for what they thought would be greener grass would be open to returning to their previous employer. Half of them said the reasons why they left — purpose, pay or flexibility — are no longer applicable in today’s market.
These are called ‘boomerang employees’ — those who left a company but are returning.
The group further found that 95 per cent of employers would take back those employees.
“Across 2021, we saw record pay rises offered to professionals, with promises of an uber-flexible and hybrid culture. Come 2023, and these pay rises now pale in comparison to the rising cost of living and inflation — with those new starters who were offered inflated salaries being much less likely to have received a pay increase this year. It appears that workers are realising that the grass may not have been greener after all,” said Martin Fox, managing director of Robert Walters Canada.
The ‘Great Resignation’ has seemingly turned into the ‘Great Regret.’
At NAPA Expo 2022, she encouraged aftermarket businesses to even poach back former employees. She Brenner said employers should check in with them if they’ve been gone for a while and see if they’re actually happy with their new gig. Tell them how you’ve changed and why it would be a good fit for them now, she recommended.
In the Harvard Business Review, authors Anthony C. Klotz, Andrea Derler, Carlina Kim, and Manda Winlaw noted that employers — especially with great employees — shouldn’t burn bridges when they leave. Stay in touch. Keep them in your professional social networks.
“When an employee gives notice, most companies focus on minimizing the disruption to the organization and remaining workers,” they wrote. “While understandable, this approach is incomplete. In addition to these efforts, employers should take steps to build positive relationships with departing workers. After all, our research shows that these employees represent a substantial future recruiting pool.”
And timing is everything. Wait about a year until after that employee has left before you reach out to them.
“The one-year anniversary of a former employee’s resignation represents a natural milestone to check in, express to them that they are missed, and make a rehire offer,” the authors advised. “Our research shows that this is also the time when they’re most likely to want to boomerang back, but employers shouldn’t just sit around and wait for it to happen. Reconnecting at this critical moment can be a great way to encourage an employee who may be considering a return to make the leap.”
Need to sweeten the pot? Offer a raise or a promotion from their previous role.