There’s an eerie amount of phrases that apply to both breaking up with your partner and leaving your job: “It’s not you, it’s me”; “I think it’s time we part ways”; “I’ve found something else.” But as the time it takes to find a new job seems to grow endless (on average, it now takes about six months), would you ever consider going back to an ex? According to payroll processor ADP, an increasing number of American workers are returning to their old employers, many of which are eager to bring back trained and vetted candidates. Boomerang employees made up 35% of new hires in March, up from 31% last year across sectors, and they made up an average of 45% of hires at information firms over the last 12 months. The appeal of hiring a former employee comes after a number of tech workers left their positions during “The Great Resignation” of 2021 and 2022. Benefiting from a job seeker-friendly market, many applicants were offered cushy salaries and competitive compensation packages at new firms. But the grass isn’t always greener on the other side. As tech companies cut middle management and AI continues to reduce workforces at even the largest companies, workers are tapping into their networks—like old bosses—for future opportunities. And hiring former workers is a bonus for employers, too. Boomerang workers often know the culture and require less training. “Elevated economic uncertainty might be inspiring a return to familiar relationships,” ADP chief economist Nela Richardson wrote in the report. So let this trend serve as a reminder: Don’t burn bridges with former employers, because they could just as soon be your future one. In other news, it’s a hot week for the majority of the United States, so I hope you’re staying cool and hydrated. Happy reading! |