Australia is going through a once-in-a-generation labour market, with the fastest rate of new jobs being created since 1994. And with that comes a high turnover of employees.
Most organisations don’t pay much attention to offboarding, and they certainly don’t pay much attention to ex-employees. This is odd when you think about it, because HR teams spend a great deal of time onboarding new employees and figuring out how to retain them, but much less thought goes into offboarding.
And that’s a mistake.
Because when an employee leaves an organisation, one of two things can happen.
They either leave with good memories and become an advocate for the organisation. Or, they leave on bad terms and despise the organisation and everyone inside, which can lead to reputational damage and completely severe ties.
As an HR manager, you want to avoid the second scenario because it means the relationship with that employee has ended.
On average, it takes one to three months for an organisation to find a suitable candidate in Australia. HR teams are pressured to fill roles quickly because open roles mean an organisation is not as productive as it could be.
Which is why hiring former employees is a great way to fill open roles in an organisation in today’s current job market, and more organisations do it than you might think! However, you can only do that with a good alumni strategy.
Daniel Kahneman is a psychologist known for the “peak-end rule,” a model he created that shows that people don’t judge experiences by the entirety of it but largely by how they feel at the peak or the end. This is especially true for painful or bad experiences ranging from a bad meal to a hospital stay.
This means employees are more likely to pay attention to their experiences at the end of their tenure and reflect on their exit more than their onboarding. And we know a poorly handled offboarding experience can undo the goodwill between a departing employee and an employer.
Alumni talent refers to a network of former employees who have left your organisation.
A boomerang strategy is a talent management approach that HR teams use to re-engage and rehire ex-employees by tapping into their alumni talent. It leverages the unique value they bring back to your organisation, mixed with fresh perspectives they’ve picked up from their time away wrapped in a ribbon of an established understanding of company culture.
Consulting firms have understood the value of boomerang strategy for a long time. They treat ex-employees in much the same way that a university or high school handles its graduating students, by staying in touch through an alumni program, assisting people in the transition to a new job, or setting up ex-employees for future success.
Consulting firms have an obvious upside that most organisations don’t: ex-employees become future clients. However, similar incentives exist for most organisations too. For example, former employees could become vendors one day, customers, ambassadors, or even boomerang employees.
As an HR manager, if you can own the sentiment that “nothing lasts forever”, employers can have more authentic conversations with employees about their careers. The goal is not to keep every single employee forever but rather to treat people respectfully, do what’s best for them, and, in the process, keep morale and productivity high.
So, what are the other benefits of having a pool of alumni talent?
Cost-effective: Organisations save on recruitment budgets and spend less time interviewing, resulting in a shorter hiring time. This means productivity bounces back faster.
Overcome talent strategies: An alumni talent pool helps HR teams proactively build an outbound talent pipeline, reducing the risk of talent shortages. This approach strengthens long-term recruitment efforts, allowing HR to plan and be proactive.
Familiar but new: Alumni bring fresh thinking and new skills to the table from their time away, bringing new energy and excitement to a team and innovation.
Instant impact: Alumni talent hit the ground running, as they know the ins and outs of the company’s culture and processes.
Except when an employee is dismissed or let go, say “see you soon” and not “goodbye” when an employee gives you notice that they’re on the way out.
Encourage managers to maintain a positive relationship, as most do the opposite and treat employees like they’ve committed a heinous crime.
Consider developing an alumni program like a university for a graduating class so ex-employees can network, discuss employment opportunities, and stay connected with people from your organisation's network. Employees can take pride in being part of an alumni network and stay engaged with the organisation’s ongoing success, opening doors for future collaboration or even a return.
Above all, alumni programs communicate to ex-employees that the door is always open. This ensures your organisation is top-of-mind as they progress through their careers and provides you with a massive and reliable talent pool.
While an HRIS helps HR teams manage different aspects of an employee's journey and relationship with your organisation, Martian Logic’s HRIS can help you foster alumni talent and recruit, retain and recall your talent all in one place.
With Martin Logic’s HRIS, you can optimise your offboarding process with automated workflows, reducing admin tasks and ensuring seamless transitions for employees.
Our employee database feature can significantly enhance your alumni strategy too. By maintaining comprehensive records of employees, you can effectively track former employees and identify opportunities for re-engagement. The system's intuitive design allows for quick searches and filtering, enabling HR teams to efficiently manage and reconnect with alumni.