How to regain and retain ‘boomerang employees’ | Viewpoint

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Since the start of the recent “Great Resignation” in 2021, many employers have witnessed an influx of “Boomerang Employees” – a term referring to employees that left their previous position to pursue a new opportunity, only to regret their resignation and return to their former employer at a later date. More specifically, a 2023 report by Harvard Business Review revealed that “Boomerang Employees” who had resigned within the previous 36 months accounted for 28% of new hires in a multi-year study.

Many employers may be thrilled to welcome back experienced employees, due to a quicker and more cost-effective onboarding process among other benefits. However, employers should also be asking themselves, “What caused this employee to resign in the first place? And how can I better regain and retain top talent in a competitive job market?”

To gain these insights, employers might consider conducting periodic “Stay Interviews,” in addition to the more common “Exit Interviews,” to gather feedback on the employee experience. In the meantime, there are several common considerations that may cause an employee to leave a position and several ways businesses can better regain and retain these employees.

One primary reason that employees may seek alternative opportunities is a lack of team support and comradery. Conversely, a strong company culture and repertoire is one of the main reasons that employees return to an organization. In fact, an international study conducted by UKG revealed that 38% of job leavers stated their peers and coworkers were the top thing they missed about their former job.

This means that ensuring an exceptional employee experience should be of the utmost importance to leaders. Prioritizing the building of strong bonds between employees is a great way to make the choice to leave a difficult one and the choice to come back an easy one. One way that companies can achieve this is through scheduling regular outings and team-building activities. Additionally, employers should conduct management training to ensure that employees feel professionally supported by their peers and leaders.

Strict geographical requirements or in-office policies are another common reason why employees may choose to leave a role. Increasingly, today’s employees value the flexibility of remote work. In fact, many young professionals have taken this opportunity to work remotely as they travel, or simply keep their current job while they move to a new city.

As a result, maintaining flexibility is critical in re-attracting and retaining talent. Companies might consider discarding rigid in-office policies and should remain open to establishing new satellite offices based on employees’ locations. This flexibility demonstrates both trust as well as a value for employees’ work-life balance – an attractive benefit for boomerang talent and new prospects.

Another reason why employees may leave their current position is to explore new opportunities. More specifically, many employees may feel confined in their current role and long for a position that introduces new skillsets, such as leadership or management. This type of job hopping became especially popular during the COVID-19 pandemic, when a highly competitive job market presented a plethora of job openings and exciting new opportunities with inflated perks such as higher pay and greater flexibility.

To prevent these types of resignations, employers should prioritize internal learning and development opportunities. This may include allowing employees to make lateral career moves and explore departments that interest them. Employers might also consider establishing a mentorship program that allows for specialized professional development. Additionally, remaining competitive and flexible in areas such as compensation, benefits and work-life balance is critical in regaining and retaining talent.

Simply put, cultivating a strong company culture, maintaining flexibility and providing ample growth opportunities are great places to start when looking to regain “Boomerang Employees”. While winning back talent is certainly an achievement companies should be proud of, employers should also focus on understanding why these employees may be leaving in the first place. These insights, along with a commitment to an exceptional employee experience, can not only help leaders better retain “Boomerang Employees”, but also help attract new talent as well.

Bruce Zicari is the Managing Partner and CEO of The Bonadio Group and is also a member of the firm’s management committee and board of directors. Contact him at [email protected].