As the need for qualified employees grows incessantly in the increasingly competitive market space, many businesses find that their employees are enticed by offers of higher salary, greater benefits, improved stock options and the promise of a distinctive corporate culture. In view of the consequent attrition that is often a major setback to a company on various fronts the practice of rehiring former employees is fast catching on to recall exceptional talent, especially when the organizations face a severe shortage of trained, skilled personnel.

In today's volatile and competitive labor market, even though employees are a valuable asset, they often venture to the "other side of the fence" looking for greener pastures. Employee turnover is one of the biggest challenges for organizations these days and firms are finding it difficult to retain their top talent. People quit for a variety of reasons like better pay package, promotion, greater flexibility in working conditions, etc. Sometimes, compelling family obligations such as young children or elderly parents requiring undivided attention is a dominating cause. Other possible reasons that induce employees to leave could be that the employees do not see any opportunity for career advancement in their present position or have an urge to gain a different perspective, especially when they are on their first job. Employers spend considerable amount of resources on training them for a particular skill, on organizational culture, regarding product familiarity, etc. As a result, employee turnover results in huge loss to the company. In today's scenario, companies prefer to rehire former employees rather than settle for inefficient new recruits. They are, in fact initiating proactive steps to encourage them to come back into the organization. Rehiring an executive was, until recently, considered to be an unconventional and an unacceptable practice by companies as they found it hard to digest the idea of employees leaving for greener pastures. However, with more and more employees looking for better alternatives, companies are considering the option of rehiring their ex-employees in their attempt to revitalize departments that will, otherwise, be struggling to achieve the desired performance and even be headed for closure in some cases. Companies are making the first move to get in touch with their old niche personnel rather than waiting for such employees to send feelers to return to the company. These `boomerang' employees, or ex-employees who leave an organization on good terms, are often ideal candidates to bring back into the fold.

Boomerang Recruitment, Strategic Tool, Employee turnover, Competitive labor market, Cognizant Technologies, Greater productivity, Competitive intelligence, BPO industry, Buiness Process Outsourcing.