Once upon a time, employees and employers mated for life. Anything less would have been seen as disloyal - perhaps even traitorous. But with Millennials comprising such a large portion of the workforce, the shift from job to job has become far more commonplace. Additionally, the exit of Baby Boomer employees has the potential to create 10,000 jobs per day. Factor in the thousands of dollars it takes to recruit, hire, and train a new employee and the future of the workforce starts to look bleak.
Fortunately for hiring managers and cost-cutters everywhere, there is a relatively untapped market and I’m not talking about the incoming Gen Z. Behold the Boomerang. A boomerang employee is one who left amicably in the past and now is considering, or being considered for, a rehire. In the bygone times of eternal loyalty, many companies actually implemented policies that prohibited boomeranging. But the fact is, acquiring a brand-new employee is both time-consuming and expensive. It might be time to consider the value of the former employee.