4 Reasons to Invest in an Alumni Network for Your OrganizationOctober 20, 2017
Having a life-long job is becoming a thing of the past. People are becoming more conscious of their career development needs and moving to new organizations that they feel will help them move forward on their career path. While many organizations are seeing more employees leaving, it’s important that they do not treat their talent as disposable goods.
Implementing a corporate alumni network for your organization allows you to keep people “employed” long after they have moved on to their new position. You are actively maintaining a relationship with your former employees and reaping the benefits of doing so. But this relationship doesn’t just benefit the organization, this relationship is mutually beneficial as former employers can be very helpful to an alumni’s career.
Here are 4 reasons that we believe every organization should invest in an alumni network.
Access to Skilled Workers
As the battle for skilled workers becomes more competitive every day, organizations need to find new, easier ways to attract employees. An alumni network can help make this happen in two ways. First, when an organization has an alumni network, they are more likely to have the possibility of hiring “boomerang” employees. These boomerangs are former employees that are rehired by an organization. They bring with them a wealth of outside knowledge, along with the internal knowledge they already have of the organization’s processes and culture. Second, alumni are a great referral source for employment candidates. They will be able to give a great insight into the organization and will cost much less than an ad campaign or recruiter.
Alumni are a great source of outside intelligence. They can provide competitive information, business practices, and industry trends. When you have an alumni network, you can communicate with your former employees to gain this knowledge. You have the option of polling your alumni to receive information or opening a group forum that allows them to discuss ideas with your organization as well as other alumni. The alumni network also gives you the opportunity to learn information about your organization in an honest and unbiased way.
Obtain Client Referrals
Alumni can not only refer new clients, but also become a new client for an organization. Many organizations provide incentives to their alumni to increase the number of client referrals that they receive from the network. This practice is usually very effective as potential clients see the alumni as a more credible source than current employees.
Increased Brand Awareness
Of course, brand awareness can be bought through expensive ad campaigns, but many organizations are looking for a way to save money without decreasing their awareness. A great way to do this is with an alumni network. Alumni can create the buzz that so many organizations are attempting to create on social media and at grass-roots events. Like with client referrals, the alumni are viewed as a more credible source than your current employees because they are considered a third party. This is especially beneficial when the number of alumni is great the number of employees at an organization.
If you are interested in learning more about how a corporate alumni network can benefit your organization, please visit our website.