- 85% considering returning to pre-Covid employers after realising ‘grass wasn’t greener’
- Quarter admit to having already reached out to previous employer
- 82% remain in touch with previous employer – with third saying it is to keep door open
Over three-quarters of New Zealand professionals (85%) have expressed their willingness to return to their pre-Covid employer. The recent survey conducted by Robert Walters, a leading recruitment agency, among 2,000 professionals revealed that the New Zealand workforce is seeming to regret leaving a role so abruptly and are actually seeking to go back to previous employers.
Work-life balance, change in market conditions, promotion, financial incentives and workplace culture are all reasons why people would return to previous roles.
Further research revealed that 45% say work-life balance is the most important reason when considering your current workplace. Before the pandemic, hybrid working was a luxury offered to few but fast forward a couple years and now 82% of white-collar companies offer flexible working arrangements. The reasons people left their company may now not be relevant, with the majority of companies offering this perk.
Shay Peters, CEO of Robert Walters Australia and New Zealand comments: ”Following the post-pandemic rebound, there has been a notable surge in employee departures, commonly referred to as ‘The Great Resignation.’ However, our research reveals an emerging trend known as ‘The Great Regret’. Throughout 2021, professionals were enticed with unprecedented salary hikes and the promise of a highly adaptable and hybrid work culture. Fast forward to 2024, and these salary increases now pale in comparison to the escalating living costs and inflation. Interestingly, those who joined organisations with inflated salaries are far less likely to have received a pay raise this year. It appears that workers are awakening to the realisation that the grass may not have been greener on the other side, after all.”
Keeping a Foot in the Door
An overwhelming majority of respondents (82%) disclosed that they maintain some level of communication with their former managers, with 13% stating that this is to primarily ensure the possibility of future job opportunities. Only a fraction of employees (less than 1 in 5) have completely severed ties with their previous managers, as 18% confirmed having zero contact with them.
Managers would Rehire
The fact such a significant amount of professionals would return to a previous employer presents a unique opportunity as a hiring manager and it seems managers would rehire previous employees. The report revealed that 98% of hiring managers would re-hire an employee who had left, with only 5% of managers saying they would with caution.
Shay adds: “It should excite leaders to know that there is a pool of talent open to re-joining their businesses. These individuals are not only familiar with your company’s processes, but they have already demonstrated a vested interest in your brand. These are qualities that can take years to instil in a new employee.”
In light of this research, companies looking to hire should seriously consider re-engaging with their alumni network. Furthermore, it is crucial to train managers and HR professionals on how to facilitate a positive exit process, as ‘boomerang employees’ could potentially return to workplaces so providing them with a good experience is essential.
Employers must be mindful of managing the return of boomerang employees among existing staff, especially if they are returning in a more senior position than when they left. Striking a balance is essential, and employers should ensure they are actively creating opportunities within the organisation. Otherwise, they risk sending a message that the only path to promotion and better compensation is through the boomerang route.
About Robert Walters
Robert Walters is one of the world’s leading specialist professional recruitment consultancies with a global presence spanning 31 countries. The New Zealand business recruits across the fields of accounting & finance, property, general management, human resources, information technology, legal, risk management, compliance & audit, sales, marketing & communications, secretarial & business support and supply chain & procurement.
