This question on its own might sound a little strange but it is something that time and time again I see businesses unable to take advantage of.
So what do we mean by the boomerang effect?
Ask yourself this, does your current employer spend thousands of dollars on your development every year and yet every year someone in your team or department leaves your organisation?
On reflection it is unlikely that your employer could have stopped them leaving so why have we written this article? Simple... The return culture or as we will call it "the boomerang effect".
Ask yourself this... why would you or your company spend money or time training people only to let them go? The answer you will say is that good people stay due to talent development and poor people leave. True be told, we all know that is not correct and good people will always leave for one reason or another.
Taking into account millennials and their expectation to stay fresh in their career and skills, they are more than 72% likely to have worked for 3 different firms within the first 8 years of their career. Now I am sure that at least two of the three firms will have been great training grounds for the employee but their ambition didn't fit with the employer at the time. Welcome to the boomerang effect.
Equal and opposite reactions
What you give out (training and empowered staff) will come back ten fold and in the work place this means that ex employees will return to your organisation at a later date if you treat them well the first time.
As unexpected as this sounds I know of ten different multinational firms that will not allow ex employees to rejoin the firm regardless of the reason they left. I think that this is short sighted especially when you try to put a dollar value against the revenue you are throwing away by not taking back someone who could be be returning to your firm knowing the culture but with more skills and overall more business experience that will ultimately help to drive profits to the bottom line of your organisation.
Please contact JOH Partners today to discuss a high quality tailored recruitment solution that will allow your organisation to stand out in the ongoing war on talent.