‘Returnship’ deserves attention from every employer
When the world experiences disruption, innovation FLOURISHES.
The current pandemic has shaken society in countless, unprecedented ways – mostly for ill. One silver lining involves revolutions in the workplace.
Perhaps the most obvious change is the necessity of working remotely. Second is the surprising uptick in hiring demand. In response, certain enlightened employers have created innovative programs to attract proven workers who’ve been out of the workforce for a while.
These “returnship” programs enable employers to attract talented people and help those people to re-build their professional resume, while they gain new, relevant skills and update capabilities they already possess.
High-profile companies are leading the way.
Although innovation is typically generated by small, young companies, returnship programs are championed by companies like Goldman Sachs and Northrop-Grumman (with its iReturn℠ program), as well as governments such as the State of Utah and their Learn & Work program.
To date, more than 60 companies have followed the lead provided by Goldman Sachs and Northrop-Grumman.
Utah (it should be noted with pride) is the first state to offer official ‘Returnships’
Successfully established in 2020, Learn & Work was recently awarded $15 million in new grant funding so that Utah colleges and universities could provide tuition assistance to qualifying students enrolling in various short-term training programs. These programs are designed to help them re-enter the workforce or learn new skills that would enable them to join more stable, higher paying industries.
It should also be noted that Utah’s initiative is meant, in part, to address the state’s historically slow pace in facilitating female participation in the workforce. From 2019 to 2020, Utah lost 12,000 jobs, including 8,000 held by women. And jobs held mainly by women are recovering more slowly than those held mostly by men.
Employers enjoy great benefits from Returnships.
Participants in the programs tend to be more tenured people, giving them an edge in maturity, perspective and overall life experience – all qualities that are prized by employers. Whereas younger people as a group might require more business training and have a greater propensity for time out and are more likely to change jobs more often, returnship workers are viewed as being more stable.
If you’re interested in exploring a returnship program, we’d love to help!
Countless people have had their lives upended by the pandemic and its impact on the economy. This innovative returnship-program concept deserves to spread throughout the nation. If interested in finding out more, please email me at peg@sanfordrose.com.
