By | Charlie Wells | sg.finance.yahoo.com
(Bloomberg) —Forget return to office. In this economy, many employees are returning to previous employers, breaking taboos about workplace loyalty and bucking assumptions about the so-called Great Resignation.
Their numbers are up. In the US in the first quarter of this year, 4.2% of all new hires for companies that advertised jobs on LinkedIn were boomerangs, compared to 3.3% in 2019, the social-media firm said.
Their reasons for returning are varied. What’s more, their returns are being brandished by firms large and small, who are boasting everywhere from social media to Slack that the grass isn’t always greener on the other side.
So-called “boomerang employees” embody the economic ambiguity of the moment. Earlier this month, the Bureau of Labor Statistics showed the US labour market added 528,000 jobs in July, beating forecasts more than twofold. Yet just the week prior, data showed that the US economy shrank for a second straight quarter, amplifying concerns about a recession.
All the while, employees and employers are locked in a standoff over perks, pay, remote policies and the very meaning of work itself.
“I just realised that startups don’t really offer a lot of family benefits that larger companies do,” said Rachel Bentley, a 31-year-old from Austin, Texas, who recently boomeranged back to Duo, a two-factor authentication company owned by Cisco Systems Inc., after stints at Microsoft Corp. and a smaller startup she joined in 2021.