Attract and Rehire Boomerang Employees Through Your Corporate Alumni Network
Former employees are often an overlooked source of talent. Not all alumni will be a perfect fit, but managing their engagement over time and considering rehiring them as boomerang employees could yield significant benefits.
As more and more Americans quit their jobs amid “The Great Resignation,” hiring managers are struggling more than ever to fill open positions. Attracting top talent takes time and money, which are two commodities many companies are running short on these days.
This tight labor market has given rise to a growing trend: hiring former employees. Boomerang employees, as they’re known, can offer several advantages over new hires:
- It takes less time and money to onboard boomerangs because they already know the ins and outs of your business
- Boomerangs often bring back valuable new skills and knowledge gained from their experiences with other companies
- Boomerangs typically outperform new hires, according to research from Cornell University
And if your company has a corporate alumni network in place, you already have the perfect recruiting tool to bring boomerang employees on board. Follow these tips to maximize your success.
Keep your alumni audience engaged
The simple fact that a former employee joined your alumni network indicates they’re still interested in your company. Keeping that interest alive though consistent interaction and communication fosters long-term relationships and a sense of community, which will keep you top of mind if and when they go looking for a new job. Need ideas? Here are six ways to engage your alumni network.
Use alumni events as networking opportunities
Getting alumni together, whether in person or online, presents the perfect opportunity to announce job openings and casually see who may be interested in them. This softer approach may be more effective than traditional head hunting, as potential candidates will likely be more relaxed and open to conversations about their career paths and goals. Learn how to get the most out of these events.
Target the right people
Clearly it doesn’t make sense to rehire a former employee simply because they used to work for you. So how can you tell which ones will make the best boomerangs? One idea: Look for people who were junior employees when they left but now hold manager, director, or executive level positions. The wealth of experience they earned while they were gone, coupled with their knowledge of your business, could prove to be very valuable. Segmenting your alumni network by demographics, geographics, or psychographics is another great way to home in on potential candidates that will best fit your current needs.
Effectively utilizing alumni management software greatly enhances the ability to manage a pool of former employees. For example, the software automates alerts for strategically significant role changes among alumni, enables you to view and manage job post viewers, and facilitates targeted communications to encourage alumni to apply.
Don’t forget about your current employees
People often forge friendships with colleagues and maintain those connections even after they go their separate ways professionally. Be sure to keep current employees updated on your job opportunities so they can encourage their old office pals to come back. This can easily be accomplished via employee and alumni newsletters, social media accounts, and company gatherings.