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By Toddi GutnerSpecial to The Wall Street Journal
Last update: 8:42 p.m. EDT April 9, 2008
Hilary Stark, an investment banker with a Harvard M.B.A had more than a decade of experience when she left the workforce in 1995 to raise her two children. Last year, she decided to come back. Her decision came just as Corporate America began to make it easier for professionals who've taken time away to return—and to reinvent their careers in a way that works better for them than their 90-hour-a-week pasts might have.
To help jumpstart her search, Ms. Stark attended Harvard's program for businesswomen looking to re-enter the work force. While there, she met the chief diversity officer of Lehman Brothers, Anne Erni. Ms. Erni was on on-hand to talk about the firm's newly-launched Encore program, which recruits seasoned professionals who want to return to work after taking time off.
Hilary Stark left the workforce in 1995, but decided to return about a year ago. She now heads Lehman Brothers Encore program. That's when Ms. Stark's re-entry plans got fast-tracked. Turns out, Ms. Erni was just beginning to think about hiring someone to head up the program. Ms. Stark, who had spent the previous 12 years not only raising children, but also managing people and projects on a volunteer basis, told Ms. Erni she really wanted to work for a program like Encore. Two months later, Ms. Stark became the program's full-time director. "It goes to prove the power of networks, and that you'll never know where or how you'll meet your next employer…or your next hire," says Ms. Erni.
Of course, not all stories of women (or men) engineering a career comeback are as rosy. In fact, 93% of highly qualified professional women who have left the work force and been out for just over two years, are trying to get back in says Sylvia Ann Hewlett, the founding president of the Center for Work-Life Policy and author of "Off-Ramps and On-Ramps: Keeping Talented Women on the Road to Success" (Harvard Business School Press, 2007). •
Though 74% do find work, only 40% say they are gainfully employed in full-time, mainstream jobs. "There is still a tremendous amount of stigma and suspension when employers see a hole in a resume," says Ms. Hewlett.
Still, dire statistics aside -- it is easier than it has been for white collar workers to jump back into a career -- and to craft your return to make it work for you. The motivation for companies is two-fold. First, there's the expected worker shortage as the first waves of 77 million baby boomers begin to retire; and second, is the myriad of evidence that the next, smaller generation of younger workers want more flexible work arrangements. The result: Companies are waking up to the idea of welcoming back well-educated and seasoned professionals, says Ellen Galinsky, president of the Families and Work Institute.
To be sure, not every industry or company welcomes or has programs to recruit comeback careerists. But, there are a growing number of Web sites, recruiting agencies and job boards that specialize in placing returnees at companies willing to consider them. Read more.