Many large firms are running returnship programmes. Much like internships, these are competitive schemes that allow leavers to come back in, based on a short programme of training and updating. For those who have been out of the workplace, it gives a refresher and an opportunity; for the firms running the programmes, it means they are bringing back the pick of the crop.
There are many reasons why employees choose to move on and returnship programmes are focused on those who left with a good reputation and desirable skill set - the classic ‘good leaver’. Some will want to pursue an independent career, but without ruling out going back into full time work – independent careers are subsidising a work life balance and pursuit of new experiences. – from bringing up a family to creating their own businesses.
There are unknowns. How easy is it to evaluate the work that has been done during the ‘gap’. How valuable would an employer find this experience, that doesn’t quite fit the traditional cv work history.
Businesses need to resource smartly now – the cost to hire averages out at £30K per employee, before salary costs and classic overheads are taken into account. Add in to this the cost of failure, and the J-curve to effectiveness of an employee, and the case for looking to those who have fit the model before increases.
At Talmix, our 60,000 strong global network provides talent connections to businesses typically with two requirements – the specialist expertise and the ‘elastic sourcing’ – creating teams to augment existing headcount, but only on an as and when basis.
This network is easily accessible, and matching algorithms means it’s very easy to track the perfect participants for any returnship programme. Companies can outsource the management of their alumni; reviewing their ongoing work activity and commitments should they want to re-hire for short or full-time work.
For firms who want to create cohorts, either from alumni or from ‘similar’ backgrounds, Talmix builds talent pools that are effectively, a company’s own network from this larger landscape.
A current user describes this view of close matches as invaluable; the real secret sauce is when the requirement isn’t in the initial requirement view– and so that stretches to include talent from the wider network. It’s seamless, using the same searching and matching as building the original ‘returners group’.
If firms adopt this, they can also present a ‘career option’ for employees who want to leave, or who are leaving due to the firm adopting a leaner model.
Long term, companies can run with smaller full time teams, knowing they can always connect to *their* talent – even outside the formal returnship structure.
We can create these views for a company instantly and also provide an option for those who aren’t selected to return – they can remain within the wider networkl, gaining new skills and training, as well as work opportunities. If required, all payrolling can be managed through Talmix, so that there is less administration by the employer until the role becomes permanent.
Full time returnships may still be competitive, but it’s keeping everyone open to opportunity.
If you'd like to find out more about building returnship talent pools then register today.
About the AuthorMore Content by Dorothy Mead