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In today’s recruitment landscape, the power lies with candidates rather than employers.

This means that candidates with the appropriate skills and experience can afford to be highly critical of your offering. With so many potential opportunities out there, they can scrutinise your employer brand and recruitment process at their will.

This dynamic makes talent more mobile than ever before, too: a white paper from LaSalle Network found that three out of four millennials are open to finding a new job.

Recruiters must adjust their strategies and techniques to this new dynamic if they’re going to attract the best talent.

This means reassessing your attitude towards boomerang employees.

What Are Boomerang Employees?

Boomerang employees are those team members who decide to leave a company but return at some point in the future.

As we all know, there are several reasons that an employee might decide to leave a business. Some of the main reasons include:

  • Looking for new professional experiences
  • Pursuing better benefits
  • Dissatisfaction with their job
  • Changes to personal circumstances

Those employees might look for greener pastures, but never actually find them. In some cases, those employees might decide to return to their previous employer – that’s when they become a boomerang employee.

In The Corporate Culture and Boomerang Employee Study, Workplace Trends found that 15% of employees have returned to a former employer.

Why Hire a Boomerang Employee

As the workforce grows more mobile and receptive to new opportunities, we’ll see a growth in the number of boomerang employees.

The same study from Workplace Trends found that 76% of HR professionals are more accepting of boomerang employees today when compared to the past.

Here are the main reasons you’ll want to consider hiring a boomerang employee:

A proven cultural fit

A study from Leadership IQ found that 46% of new hires will fail within the 18 months. Of that 46%, a shocking 89% are deemed to fail because of difficulties integrating into the workplace and its culture.

That can increase your employee turnover rate and push your recruitment costs sky high. If you hire a boomerang employee, though, you can rest assured that they’re a great cultural fit and that they’re familiar with your unique culture.

A lower cost per hire

According to the Society for Human Resource Management (SHRM), the average cost per hire in the UK is placed at around £3,000. That’s a significant amount of money – mainly when you’ll almost inevitably lose a portion of that talent within the first 18 months.

If you maintain close contact with your alumni, you’ll be able to slash those costs. A well-maintained talent pool can give you access to the pre-approved talent that you need.

Curious about what talent pools can do for you? Read our piece on six reasons you should develop an alumni talent pool.

A lower time to hire

Every day that you have an empty vacancy will cost your business significant amounts of money. You might lack a salesperson, for instance, who would otherwise be contributing to your revenue.

This is why it’s critical that you reduce your time to hire. That’s easier said than done, though, given that it’s currently so difficult to find the appropriate talent. That difficulty protracts time to hire and costs your business money.

Boomerang employees can help here. Given that they’ll be pre-approved talent, you can often move them faster through the hiring process to reduce your time to hire.

Shorter onboarding times

Finding the right talent is just half of the battle: you’ve also got to train and onboard your new hires. This can be an expensive process, given that you’ll have to assign lots of administrative time and effort. New hires might also impact the productivity of your existing employees, too.

Those risks are mitigated when you decide to work with a boomerang employee, though. Your pre-approved talent will be able to hit the ground running immediately and start driving value from your business.

Benefit from new perspectives

Diverse workplaces are happier, more productive and more innovative. It’s crucial that you try to foster people from a range of different backgrounds – that includes professional experiences.

On their adventures, your boomerang employees might have picked up some valuable experiences and best practice along the way. You can incorporate the best parts of those experiences into your culture to reap the benefits of fresh input.

Boost your employer brand

According to LinkedIn, a staggering 75% of candidates will check out your company’s online presence before submitting an application. This means that they’ll inevitably check out your reviews on job boards like Glassdoor.

Re-hiring a boomerang employee can boost your employer brand. It demonstrates that your employees genuinely enjoy working for your business, and it also shows you value enduring relationships with your talent. Those are desirable factors to potential talent.

Monitor Your Boomerang Talent with Elevate

Are you ready to keep tabs on your alumni, attract boomerang talent and unlock the benefits above? Learn more about Elevate and how our platform can provide you with immediate visibility to the talent you need.

If you find it challenging to find the right talent, you’re not alone.

According to a survey of 40,000 employers conducted by Manpower Group, 45% of employers say that they can’t currently find the workers with the skills they need.

This statistic means that there’s more competition than ever before when it comes to attracting and retaining highly-qualified candidates. That competition is just one factor changing the landscape of talent acquisition – technology and changing attitudes towards labour are also playing their part.

If you’re going to attract and retain the best talent in 2020, you’ll need to keep on top of the latest trends. Let’s dig deeper into five unmissable 2020 talent acquisition trends.

2020 Talent Acquisition Trends

These are the five most prominent 2020 talent acquisition trends, but we’d love to hear your thoughts or suggestions too. Be sure to let us know if there’s another trend that you’re particularly excited about in 2020.

1. More companies will adopt cutting-edge talent acquisition technology

There’s no question that as we enter the brave new world of Recruitment 4.0, technology is transforming the very notion of talent acquisition.

Advancements to AI mean that HR departments can use cutting-edge talent acquisition technology to level-up their performance and find the right candidates. As talent acquisition platforms continue to mature throughout 2020, we can expect to see HR departments use them to:

  • Reduce unconscious bias
  • Automate time-consuming and repetitive activities
  • Pinpoint the best candidates from within a talent pool
  • Effortlessly increase hiring volume
  • Auto-screen candidates

We’re excited to see how companies continue to make the most of talent acquisition technology and how those platforms will enhance the performance of HR professionals.

2. Businesses will focus on mentoring and training to retain talent

According to the Association for Talent Development (ATD), those companies that offer comprehensive training programmes enjoy a 218% higher income per employee.

Top candidates also expect to receive training: 87% of Millennial employees state that career growth opportunities are an essential factor when deciding whether to remain at a company.

Over the course of 2020, we’ll be sure to see more businesses invest in robust mentoring and training programmes to attract top talent. Those mentoring and training programs can help businesses to get the most from their team members while also fostering a sense of loyalty and belonging.

3. Ambitious companies will invest heavily in employer branding to attract top talent, reduce costs and enhance engagement

Employer branding sounds fancy, but as we know, it merely refers to a company’s reputation as an employer.

Given that it’s so difficult for companies to attract the best talent at the moment, they must invest in employer branding to stand out from the competition and entice the most sought after candidates.

TalentNow found that 84% of job seekers say the reputation of a business as a potential employer is crucial to them when making decisions.

Over the course of 2020, we’re confident that more companies will invest in employer branding to attract the best talent. We’ll see lots of companies take a combination of the following steps:

  • Audit their existing employer brand
  • Define a strong employee value proposition
  • Craft a definite and clear culture
  • Manage their online reputation
  • Encourage employees to become energetic advocates

Are you looking for an innovative and effective way to boost your employer brand in 2020? We have three words for you: corporate alumni network.

For more information, please read our guide on why building a corporate alumni network makes sense for your business.

4. Workplaces will become more diverse (and prosper for it)

By now, countless studies have demonstrated that diverse workplaces benefit from increased creativity, different perspectives, higher innovation and much more.

This is why achieving true workplace diversity has become an essential goal for businesses in recent years. HR departments around the world now place a strong emphasis on assembling diverse teams that include people with different characteristics.

Over the course of 2020, we’ll continue to see ambitious HR departments bring together a range of diverse candidates. Those departments will use several vital techniques to promote and manage diversity in the workplace.

Here are just some of the principal techniques that HR managers will use:

  • Talent acquisition technology will help mitigate unconscious bias
  • Diversity-friendly workforce policies will accommodate for a range of profiles
  • Mentorship programs will give every team member the chance to advance
  • Clear internal communication will contribute to an open and respectful atmosphere

5. Businesses will offer competitive perks to secure the best talent

When it comes to the dynamics surrounding talent acquisition, the ball is most certainly in the court of talented and in-demand candidates. If you’re going to attract them to your business, you’ll need to offer a suite of competitive perks.

Nowadays, those candidates expect their salaries to be complemented by a range of non-monetary benefits that keep them happy and engaged. 48% of candidates weigh benefits and perks when deciding on their next role.

We expect that over the course of 2020, businesses will revise the suite of perks that they offer to attract top talent. Here are just some of the most sought after perks that you can use to sweeten the deal:

  • Private insurance
  • Performance bonuses
  • Flexible schedules
  • Employee development programs
  • Gym memberships
  • Stock options
  • Employee discounts

Unlock the Power of AI-Driven Talent Intelligence with Elevate Direct

Are you ready to leverage the power of AI in 2020 to build an instantly qualified pipeline of talent? Learn more about how the Elevate Platform can help you to retain, engage and attract the best talent for your organisation.