Decoding Boomerang Hiring: A Suggestive Framework to Improve Organizational Efficiency
In an ever changing, volatile and dynamic business environment, efforts put by the human resources reflect the organizational efficiency. Organizations should always focus on maintaining smooth relations with the Alumni and Boomerangs as they play a crucial role in the expanding horizons of business. A positive word of mouth also helps in improving the goodwill and image of the company. It will encourage the prospective employees to view the organization in a positive light. Rehiring former employees is one of the mechanisms for recruitment used by a large number of corporations primarily because of the inherent advantage of added experience as well as savings in terms of cost of recruitment and training. The present study attempts to give an overview of Boomerang Hiring, the possible value additions being made in terms of Human Capital and Social Capital on basis of the type of respective organizations they are returning from. Additionally, the perspective of the rehired employee is also presented. The study is further enriched by quoting a few instances from the corporate world. The Rehiring Strategies tailored as per organizational requirements will lead towards holistic growth and development of the entity.