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The Boomerang Metric: Welcoming Back Former Employees
The chapter discusses the idea of allowing employees to leave the company and then come back, highlighting the benefits of this approach. It mentions a metric called the 'Boomerang metric' which tracks how many people have left Menlo and then chosen to return. This is contrasted with other organizations that view leaving as disloyalty and do not welcome back former employees.
This week we dig into the Awesome Office archives to bring you one of our absolute favorite conversations.
From kid programmer in 1971 to Forbes cover story in 2003, Joy, Inc. author and Menlo Innovations CEO Richard Sheridan has never shied from challenges, opportunities, nor the limelight. His focus has always been around technology, but his passion is actually process, teamwork and organizational design, with one overarching goal: unlock the business value of Joy.
Strangely enough, it all began in 1967, when a ten year old Richard decided to surprise his parents by building a piece of furniture while they were away for the evening.
Hear his incredible journey to Menlo, and how culture became such a focus for Richard in this uncut interview.
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Listen to the best highlights from the podcasts you love and dive into the full episode