Continuous Careers, Intermittent Employment: A Modern Workforce Strategy

Transforming the concept of a life-long career.

In today's rapidly evolving job market, the concept of a lifelong career with a single employer seems increasingly rare. However, a new phenomenon is emerging: continuous careers with intermittent employment, as professionals weave in and out of an organisation's tapestry over time.

This modern workforce strategy has the potential to transform how we view long-term employment and reshape the way companies engage with their talent. I am keen to explore the benefits and challenges of this innovative approach and hear from this community how we can harness the power of "boomerang employees" to build a more adaptable and resilient workforce in a constantly changing world.

So much is shifting as the future of work evolves.

As someone who has been closely following the changing landscape of work and the shifting perceptions of what it means to have a fulfilling job, I find the recent data on Boomerang hires particularly fascinating. According to a Harvard Business Review article, 20% of workers who quit their position during the pandemic have since returned to their old employer, and 28% of all new external hires are Boomerangs who had previously resigned within the preceding 36 months. This data comes from a comprehensive study by Visier, which analysed 3 million employee records across 120 enterprise organisations over four years.

My personal experience as a Boomerang employee aligns with these findings. After leaving a company to explore a different industry, I found myself drawn back to my original field and the colleagues and culture I had left behind. This story is common; many Boomerang employees return within 14 months, and the majority return by month 18.

Does this mean the start of the GREAT RETURN?

These statistics have important implications for the future of work and talent acquisition. As Boomerang employees now account for a significant proportion of new hires, it's crucial for companies to develop strategies to capitalise on this trend. Some potential steps include:

1. Creating systems to track departing employees and maintain contact, such as using CRM systems or creating alumni groups on LinkedIn.
2. Capturing data on departing employees' skills, prior experience, aspirations, and reasons for leaving, to better match them with future opportunities.
3. Developing ongoing engagement initiatives with departing employees, such as sending company updates or hosting exclusive events for alumni.
4. Implementing proactive outreach programs or even dedicated alumni sourcing teams to target this valuable talent pool at key re-engagement points, such as around the 12-month mark after departure.

However, the broader implications of this data go beyond just talent acquisition. Companies must also focus on retaining new talent by ensuring that the reality of employment matches the expectations set during the hiring process. This involves investing in onboarding programs, conducting employee surveys to identify potential issues, and supporting managers in identifying and addressing employee dissatisfaction.

It may be good news, but it will impact the finances.

Furthermore, the significant pay increase that Boomerang employees typically receive upon return (25% on average) highlights the need for companies to reevaluate their compensation strategies. With job-switchers often achieving a 9.7% wage increase compared to a 1.7% decrease for those who stay, employees may see leaving their current job as a calculated risk worth taking.

The data on Boomerang hires clearly indicates that the way we think about work and employee satisfaction is changing. Companies that recognise these trends and adapt their strategies accordingly will be better positioned to not only attract top talent but also retain and nurture their workforce in the long run. By focusing on fostering meaningful connections with employees, even after they've left the organisation, and addressing the root causes of dissatisfaction, we can create a future where loyalty is defined differently ... Flexi-loyal.