Tag: boomerang

As great resignation trend slows, here’s how companies are enticing ex-employees back

There was muted celebration in HR departments across the U.S. when, on Apr. 4, the latest data release on employment from the Bureau of Labor Statistics indicated that the Great Resignation may have finally slowed down – if not quit – in some so-called knowledge-working industries. However, the trend was still evident in many blue-collar industries.

“It’s no surprise that blue-collar workers are continuing their exodus while office workers have quickly realized the grass probably isn’t greener,” said Leslie Tarnacki, global CHRO for WorkForce Software. She argued the findings proved that if employees were handed the flexibility, autonomy, and “proper tools to fulfill their roles efficiently,” they were “far more likely” to stay with their organizations.

Michigan-based Tarnacki explained the slowdown of the Great Resignation for desked workers. “Much of it was spurred by a demand for flexibility and better work-life balance, which most employers have been able to deliver in some way with remote working and flexible hours,” she said. “For front-line and deskless shift workers, demands have not been so easily met.”

What should business leaders of blue-collar workers take away from the new Bureau of Labor Statistics data? How can they, too, halt the ongoing Great Resignation trend for good? 

The full version of this article was first published on Digiday’s future-of-work platform, WorkLife, in April 2023 – to read the complete piece, please click HERE.

Boomerang employees trend continues to grow, but is a returning worker a good idea long-term?

According to LinkedIn, boomerang employees accounted for 5% – 1.4 million people – of all new hires in 2021 in the U.K., a record high. The professional social media platform also contributed to this trend, with nearly 150 returning employees between September 2021 and February 2022.

It is a good idea for businesses to take a supportive and pragmatic approach, believes James Lloyd-Townshend, CEO and chairman of Frank Recruitment Group. Mainly because the workforce “is far more fluid now” compared to a decade ago, and the average length of service has reduced.

“There’s also far less of an ‘us’ and ‘them’ relationship between employer and employee today,” he said. “The dream scenario as an organization is for everyone leaving you to be welcome back at any stage in their career, and boomerang hires are just evidence of that attitude translating into practice.”

Glassdoor research published in 2020 calculated that the average U.K. employer spends around £3,000 ($3,688) per new hire, and the process takes approximately 28 days.

The price to pay for a wrong candidate is significantly higher, though. The U.S Department of Labor warns that a misfit will cost the business up to 30% of the employee’s wages for the first year. Others argue that the figure is significantly higher when training and supervision are factored in.

A Harris Poll research, published by USA Today in March, indicates the Great Resignation triggered during the pandemic has proved to be not so great for a high majority of movers. Indeed, just 26% of job switchers quizzed say they like their new position enough to stay.

This article was first published on DigiDay’s future-of-work platform, WorkLife, in June 2022 – to read the complete piece please click HERE.