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1-Page Summary of The War for Talent
The economy is doing well, so companies must compete harder to attract the best talent. They should look at their own alumni as well as professionals who are returning from a career break. Companies already know more about their past employees than they do about an average new hire, and those workers often need less training because they’re familiar with company culture and expectations. Moreover, there will be many more of these people available in the future because people follow nonlinear career paths that include lateral moves or time off to care for family members. Women account for most workforce returnees but men are increasingly taking breaks too. Establish programs that give exiting employees an opportunity to come back and offer paid internships where they can learn skills while gaining experience before applying for a full-time role. It’s costly to find and train new employees so take three steps:
“Don’t expect former employees to return to your company and pick up where they left off. They’ve likely changed since leaving, as has the organization. Assess what both parties need from each other, customize their roles accordingly, and offer flexible work options.”
Organizations need to help employees feel connected, so they should appoint a sponsor for new hires. They can also facilitate networking and provide training for returning employees as well. Organizations should create the right culture by welcoming and encouraging returning workers, ensuring that their retirement plans are in order, and showing them that high-level role models are also returning employees. Organizations can build an alumni network by telling departing workers that “the door is open” if they want to return someday.