Say you left your previous employer about 3.5 years ago to pursue a growth opportunity, my primary motivation for moving. If a position currently opens up in that same company today for a Software Team Lead, would you:Apply for this position, if you still have a lot of good relationships If you would apply and can speak to the Engineering Director, who did all he could to keep you, would you call him to discuss about their needs and your interest? If not, how would you go about this?As the Engineering Director, would you consider this candidate for Software Team Lead who left you 3 years ago despite all you tried to do to keep him, knowing that this guy has a tendency to seek opportunities for growth every 3-5 years? Yes, this person meets all of the requirements and has the potential to be a good leader. 
Will you consider a Software Team Lead position with previous employer
team leader
knowing that this guy has a tendency to seek opportunities for growth  every 3-5 yearsYou're saying it like it's a bad thing. I would be very cautious towards people who stayed in the same position for more than 3-5 years. I see no problem with people leaving if they can't find what they need at their current place. As long as they were professional and left without causing problems and on good terms - there's no reason for them not to come back when an opportunity arises.For the company its definitely a good thing: shorter learning period, they already know what the person can or cannot do, there are personal relationships which will make it easier to get back into business faster, and of course it is much easier to evaluate if the person fits if he already fitted once. Much better than trying to guess based on a 1-hour interview.