Posted under Career Management on March 24th, 2007
Philadelphia Media Holdings, publisher of The Inquirer and Daily News, reported that Tom Geonnotti has recently returned to the papers as Director of Advertising.
Apart from a hearty “congratulations,” why is this significant?
Because Geonnotti is one of many “boomerangs” - a group of corporate alums who
are returning to their former employers. Most of these alums are returning as managers and executives; many are retirees. This is a growing trend that gives new meaning to the adage, “Don’t burn your bridges…” 
WIIF (What’s In It For) the returning employee?
* They encounter less of a “learning curve;” they know what they are getting into
* They are less likely to find a “cultural disconnect;” they know the players
* They are invested - many have retained stock and are company ambassadors
WIIF (What’s In It For) the hiring company?
*Substantial cost savings (SelectMinds reports that
the average Fortune 500 company could save $12 million/year by actively
recruiting alumni) <>
*Former employees can provide new ideas, helping
their former employer to benefit from the new trends and technologies
acquired elsewhere
*The hiring company benefits from accumulated good
will - the returning employee is likely to be a true company
evangelist, shown to stay longer and perform well the second time
around.
The consultant who has been advising The Inquirer and
Daily News made the decision to hire Geonnotti 30 years ago, straight
out of Rutgers University. He said “his motivation for hiring him ws
the same then as it was now. He just exuded so much energy; you could
feel it in the room.”
Published by Karen Katz
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