Why Boomerang Rehire Programs Rank #2 in Producing High-quality Hires

 

Interesting article on the #2 source of finding quality hires.

~ David Parsley

Why Boomerang Rehire Programs Rank #2 in Producing High-quality Hires

by  Dr. John Sullivan 

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Other than referrals from your top-performing employees, it’s hard to find a corporate recruiting source with a higher quality of hire (i.e. on-the-job performance) and a higher ROI than boomerang rehire programs. If you’re not familiar with the term, a “boomerang rehire” is a former top-performing employee who you rehire after an absence of a few years. I rank them No. 2 in new hire quality and they also produce significant volume of hires (CareerXroads ranks them N0. 6 in volume, after college hires).

Although boomerang programs have been around for years. In the past they were a bit of a burden because if you wanted to find and keep in touch with your former top-performing employees, you had to put together and maintain your own corporate alumni group. Fortunately today with the tremendous growth of LinkedIn, you can now easily find out where any former employee works. That makes this source among the easiest to find candidates. Updating their LinkedIn profile can also signal to you that they are probably once again considering a move to their next firm, which provides you with an opportunity to reach out to them and ask them to consider returning.

Other firms now build a simple online talent community group and maintain relationships through text or e-mail. The benchmark firms in boomerang rehiring programs include Deloitte, Ernst & Young, Booz Allen, Bain, and DaVita, which has reached as high as 16 percent of its hires coming from its impressive “you are always welcome here” boomerang program. 

Why Boomerang Rehires Are Such High-quality Hires

Referrals from your high-performing employees produce high-quality hires because top performers continually interact with the very best talent and they wouldn’t think of referring anyone who doesn’t meet their high standards. Boomerang rehires have a high ROI because they bring in high performers, and because cost wise, candidates are cheap to find, assess, and sell. Boomerang rehire programs produce high-quality rehires for a variety of reasons, including:

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