The Rehire Report is a list of people who’ve exited that indicate they’d consider returning to your organization. They have the choice to identify themselves, giving you the choice to reach out and potentially rehire them.
According to SHRM, replacing an employee can cost between 50-60% of that employee’s salary with overall costs ranging anywhere from 90-200%. Creating a consistent process for using your Rehire Potential Report can more than pay for the People Element Platform.
Follow our best practice process to make sure you’re getting the most out of your report!
- Find an owner: This person manages reviewing the report regularly and calling your potential rehires.
- Schedule a push report: The report owner doesn’t need to log into the platform! You can schedule a report to be emailed on a regular basis.
- Report cadence: Choose your cadence to receive your report. Best practice is to schedule your rehire potential report to be sent on a weekly basis.
- Report specifics: Include at least the last month worth of data for review. It’s important to note you may not have new rehires in every report.
- Call people: It’s important to call the people you’ve determined would be good rehires in a timely manner. The longer you wait to contact them, the less likely they are to return.
- Track ROI: Every quarter, identify how many employees were rehired and how much money was saved based on their turnover costs. Report this back to your executives at minimum annually.
Consider creating a corporate alumni program to keep in contact with potential rehires that might be a good fit in the future.