The Great Return: should you boomerang back to a former employer?

By Aoibhinn Mc Bride

Picture the scene… in 2023 you were laid off from a job you loved in a company you really enjoyed being a part of and despite securing a new role, you aren't 100% happy with what you're doing.

If given the chance, would you return to your previous employer?

If you're one of the 263,180 tech employees let go last year and the answer is yes, you'll be happy to know that 68% of tech companies are contemplating re-hiring former staffers.

Boomerang boom
For those who are still unemployed, 44% said they would return to their former employer, however only 27% who have secured a new job would return to their former employer.

But is going back to an organization that didn't value your skills and expertise enough to save you from the proverbial chopping block the first time a good career move?

Re-joining a company you were previously part of has its perks in that you know how processes work, how managers work and what the company culture is truly like.

You should also be able to negotiate a better salary than the one you left on—as a general rule, you should ask for a 10% to 20% increase but some new hires report that they've managed to secure a 30% raise.

Drawbacks
While more money and the comfort of familiarity are huge draws, boomeranging back to a former employer also comes with drawbacks, namely a lack of trust in your position and future.

You might also find that if a company is desperate to increase its headcount after a period of restructuring in order to cope with ramped-up business demands, expectations on employees (namely your workload) could be vastly different to what you're used to.

A good way to make an informed decision about whether or not to boomerang back to a former employer is to lay out your stall before accepting a job offer.

For starters, ask for written confirmation about what your role will entail, what your KPIs are per quarter, and what the business projections are for the year ahead.

Next, ask about team structure. Who you will be working with and how objectives will be achieved, despite a reduced headcount. Will you have access to support staff? Is the company offering professional development opportunities to plug any gaps that were created during the previous cull?

While there's no doubt that going back to the devil you know has its benefits, sometimes a fresh start is the best way to reinvigorate your career.

And if you find yourself embarking on a job hunt—or are simply curious about what else is out there—head to the Accounting Today Job Board where you will find thousands of jobs in companies actively recruiting, like the three below.

Accountant Senior-Accounting-Full Time, Christus Health, Irving, TX
The Senior Accountant is responsible for general ledger stewardship and month-end close. You will also reconcile balance sheet accounts, research, investigate and report issues, and be responsible for the review of the income statement, balance sheet and other reports as needed for variance analysis, support or explanations. You will also be required to provide ad-hoc analysis as requested. Interested? Apply here.

Senior Subcontracts Administrator, ENSCO, Inc., Springfield, VA
ENSCO Inc.'s Procurement Department manages all aspects of the company's subcontracts efforts for systems integration, research and development, and engineering programs in support of its U.S. government, commercial and international customers. In this Senior Subcontracts Administrator role, you will develop requests for proposals, analyze proposal responses to ensure compliance with customer flow-down requirements; negotiate terms and conditions for NDAs, teaming and subcontract agreements, and monitor subcontractor payment milestones and performance. See the full list of requirements here.

Manager, Internal Audit Information Technology & Security, Options Clearing Corporation, Dallas, TX
As the Manager of Internal Audit Information Technology & Security, you will manage independent assessments of OCC's IT and security information environment, risk management, and other objectives as needed. You will also be responsible for defining that the proper scope, approach, and quality are integrated into each audit and that regulatory, operational, and strategic risks are sufficiently mitigated by management. You will also provide recommendations for improvements to leadership and coach your direct reports so that they can develop their skills. If this sounds like the role you've been looking for, find out more here.

Consider your career options today via the Accounting Today Job Board