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This past week, McKinsey released its HR Monitor, an annual benchmark survey on the biggest global workforce and HR trends. The 44-page report covers topics such as workforce planning, talent acquisition, employee development, and employee experience. One section I want to zoom in on is the talent acquisition chapter, which emphasizes building proactive pipelines through active relationship management with passive candidates, strong referral programs, and reengaging prior “runner-up” candidates. An often-overlooked pipeline source I would add is former employees. Although not every former employee makes sense to re-recruit, some high performers who voluntarily left may want to return after realizing their new role and/or culture was not the right fit. And research supports the case for rehiring. A study in the Academy of Management Journal found former employees often outperform new hires in roles requiring relational skills and coordination, while research in Organization Science shows returning employees tend to help colleagues more than external hires. Is rehiring part of your talent strategy? As you think through your strategy, consider a Visier analysis that found the average time away before returning is 13 months (up to 36), but likelihood drops sharply after 16, making 13 to 16 months the critical window. Don’t let that window close. These are the types of strategic discussions we have in my private community, Talent Edge Circle.
