Boomerang hiring: Strategy for sustainable development in COVID-19 era

Abstract

BACKGROUND: Many companies are forced to restructure themselves by right sizing due to unexpected fall in demand for their products and services created by the COVID-19 pandemic. COVID 19 not only affected the health of human beings but also their wealth across the world. Global economic parameters are showing a sign of positive growth with decreased number of COVID 19 cases across the world. Many companies are in a dilemma to rehire their former employees or to hire the new candidates to meet the increased demand. OBJECTIVES: The objectives of study are i) to analyze the key drivers for boomerang hiring and ii) to develop a conceptual process for boomerang hiring. METHODS: An exploratory methodology was designed to identify the key drivers of boomerang hiring by studying the various successful stories of those companies which had rehired their former employees. Various papers were reviewed to develop the process for boomerang hiring. RESULTS: Study showed that knowledge about the culture of the company, cost of hiring, morale booster for the existing employees, and customer retention, are the key drivers for boomerang hiring. This hiring process requires special skills from HR Managers, as this decision will impact long term success of the company. CONCLUSION: The process of boomerang hiring cannot be standardized as each organization culture is different and companies cannot have the same strategy for each candidate as every individual is different. Boomerang hiring will work as the right strategy during pandemic situation as former employees would have built relations with the customers. The customers will be happy to see the former employees who had served them better.