Empowering professionals to re-enter the workforce after a career hiatus, career returnship programs or second career programs are gaining momentum as a transformative tool for organizations and society alike.
The 2023 Best Companies for Women in India Study found that 83% of the 100-Best Companies ran these programs. Evidently, there has been a rise in the number since 2022, from 75% then. Increasingly organizations have begun implementing these programs as they have several advantages in different levels both within and outside.
Talent Acquisition and Retention
Accessing a Diverse Talent Pool: Career returnship programs provide organizations with access to a diverse pool of experienced professionals who offer valuable skills, perspectives, and expertise.
Retaining Institutional Knowledge: By reintegrating former employees into the workforce, organizations retain institutional knowledge and expertise, reducing the need for external recruitment and onboarding.
Innovation and Growth
Fostering Innovation: Returnees bring fresh insights and diverse perspectives, fostering innovation and creativity within the organization.
Accelerating Growth: Leveraging the skills and experiences of returnees accelerates organizational growth and development, driving competitive advantage in the market.
Benefits for Brand Value
Enhancing Brand Reputation: Organizations that implement career returnship programs showcase their commitment to diversity, inclusion, and employee development, enhancing their brand reputation as an employer of choice.
Building Trust and Loyalty: By actively supporting professionals in their career transitions, organizations build trust and loyalty among employees, customers, and stakeholders.
Promoting Social Responsibility
Aligning with Social Values: Investing in career returnship programs aligns with broader social values of equality, empowerment, and opportunity.
Contributing to Social Progress: Organizations play a vital role in driving social progress by challenging traditional career norms and promoting a more inclusive and equitable workforce.
Economic Empowerment
Promoting Workforce Participation: Career returnship programs enable professionals to resume their careers after a hiatus, promoting workforce participation and economic empowerment.
Closing Gender Gaps: By providing opportunities for women to re-enter the workforce, these programs contribute to closing gender gaps in employment and economic opportunity.
Career returnship programs serve as catalysts for organizational growth, brand enhancement, and societal progress. By harnessing the potential of returnees and fostering a culture of inclusion and opportunity, organizations play a pivotal role in shaping a more equitable and prosperous future for all.