Uprova Bar
February 8, 2024

What is a boomerang employee and is it beneficial?

A new hiring trend has emerged, and it’s reshaping the way both employers and employees perceive professional relationships. Companies are increasingly welcoming back former employees, so called boomerang employees, recognizing the value they bring with the skills and experiences acquired while away. Today, more than a quarter of all new hires are in fact boomerang employees. This trend challenges the conventional belief that once an employee leaves, they are gone for good. Instead, businesses are now embracing the concept of the boomerang effect, acknowledging that valuable employees may find new opportunities elsewhere, only to return with a fresh perspective and enhanced skill set.

Why Employees Boomerang

Several factors contribute to the growing trend of boomerang employees. One of the primary reasons employees leave is to achieve a higher salary. Often, managers don’t have the budget to provide a raise when an employee asks for one. However, once the employee leaves and gains more experience, they could apply for a different or more senior role that pays higher.  As a result, some reports indicate that boomerang employees get up to a 25% raise over what they earned previously at the same employer.

Another reason employees leave is to pursue diverse experiences and skills. In an era where continuous learning is highly valued, employees often venture out to explore different roles, industries, or even start their own ventures. These experiences not only enrich their knowledge but also make them more versatile and adaptable.

Additionally, employees may leave a company due to personal reasons, such as relocation, family obligations, or pursuing further education. When these circumstances change, they might consider returning to a familiar and supportive work environment.

The Benefits for Employers

Welcoming back boomerang employees offers numerous benefits to employers. Firstly, these individuals require less onboarding and training since they are already familiar with the company culture, processes, and expectations. This results in significant cost and time savings for businesses.

Moreover, boomerang employees often bring a wealth of external knowledge and fresh perspectives acquired from their experiences in other organizations. This diverse background can be a valuable asset, fostering innovation and creativity within the company.

Enhancing Company Culture

The rise of boomerang employees also highlights the importance of nurturing a positive company culture. Organizations that prioritize employee development, work-life balance, and a supportive work environment are more likely to attract former employees back into the fold. A workplace that values its employees and provides opportunities for growth and development becomes a magnet for talent, even those who have ventured elsewhere.

Summary

As a boomerang employee you could earn more, about 25% more according to recent data. As businesses adapt to this trend, they are not only benefiting from the return of experienced and skilled professionals but also creating a workplace culture that values growth, learning, and continuous improvement.

When you’re in need of funding consider Uprova.com. You can request up to $5,000 in funding online and check your rate without impacting your FICO credit score. Learn more about our personal loans.



The content of this website is for informational purposes only. Nothing on this website constitutes financial or professional advice. Consult a professional for advice suitable to your personal circumstances.

Ready to get started?

Checking your rate won’t affect your FICO® Credit Score!

 Check My Rate