The current state of the economy has led people to return to their old jobs. Coined as “Boomerang Employees,” workers are going back to their previous employers as Great Resignation regrets settle in.
Their numbers are up in the United States (US) alone. Compared to 2019’s 3.3%, 4.2% of Q1 hires for companies that advertised jobs on LinkedIn were boomerangs.
Reasons also vary from each employee. Some of the most common ones include familiarity, employee benefits, and fears of a possible recession.
On the other hand, employers are not wasting the chance to boast about this trend. Firms large and small are posting on their social media accounts that this counters the saying that the grass is greener on the other side.
Startups are losing their appeal
Recruitment slowdown and hiring freezes have muddled the appeal of startup companies in the labor market.
Rachel Bentley, one of the boomerang employees, realized that startups “don’t really offer a lot of family benefits that larger companies do.” She returned to her old job and was offered double her previous salary.
Matthew Wragg, CEO of engineering and tech recruitment firm Gattaca, said that hiring boomerangs gives companies the advantage of “cultural cognizance.”
“They know the culture. They know the operating processes,” He emphasized.
Moreover, a study by University of Missouri Assistant Professor John Arnold also showed that boomerang employees tend to change little between their first and second tours of the company. Those who performed well in their first stints also performed well in their second.
Still, despite the allure of returning to your roots and reconnecting with old work friends, Korn Ferry Senior Director Mark Royal said that boomerang enthusiasts should carefully consider whether going back to an old employer is the right move for their careers.
Instead of jumping head first to apply back to their old workplaces, people should give their new jobs enough a try.