Gone, but not forgotten: how corporate alumni networks pay off

In a tighter labor market, companies should pay closer attention to offboarding, as “boomerang” hires can yield substantial benefits for businesses.

The labor market is rapidly thawing and organizations across the globe face difficulties not just in hiring new staff, but hanging on to existing workers. And yet, few employers pay much mind to the separation process when an employee leaves the organization, despite the fact that effective “offboarding” can yield substantial benefits for businesses.   

For employers, most of the focus has been on onboarding new hires and retaining and upskilling those employees, however the exit interview should not be the last interaction you have with departing employees.

Research shows that “experiential companies” that offer a positive employee experience in terms of the cultural, technological and physical environment have 40% lower turnover, 1.2 times the average revenue and 4.4 times the average profit than those companies which…