HR professionals are increasingly noting that the way employers deal with a departing employee is just as important as the way they hire one, as the number of former employees who return to a company continues to trend upwards.
And one company is moving in on that trend with a new mobile employee offboarding solution.
Iowa-based Businessolver has launched My Choice Market, which the company says will allow employers to capitalize on the growing number of "boomerang" employees.
This is particularly important given the nation's 4.3 percent unemployment, skilled labor shortages, and the high number of job openings.
Jon Shanahan, chief executive officer of the Iowa-based company, said the boomerang employee trend is growing rapidly.
Shanahan cited figures that reveal 15 percent of employees have “boomeranged” to a former company, and nearly 40 percent would consider doing so.
"What’s more, 40 percent of HR professionals say their organization has hired back former employees," Shanahan told HR Daily Wire.
"Fostering a good relationship with these employees makes them more likely to become positive brand ambassadors, which is especially important in today’s tight labor market and Glassdoor culture," he said. "You never know: Someone in an alumni employee’s network could be your company’s next star if that alum leaves with a positive experience."
In short, offboarding employees should be just as important as onboarding them.
"It is a strategic decision and approach to capitalizing on the current ‘Boomerang’ employment trend," Shanahan said. "Departing employees are still voices for our companies; how we offboard them can not only make a difference in whether that voice is a positive one, but whether they might consider coming back to an organization."
Surveys have shown that while millennials stay at one employer on average 18 months, almost half said they would consider "boomeranging" back.
"Yet, 80 percent employees don’t have an offboarding strategy in place," Shanahan said. "MyChoice Market gives companies an offboarding framework and provides former employees a seamless benefits transition to ensure consistent, secure coverage for their benefits needs."
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