4 Reasons Your Organization Should Invest in an Alumni Network

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.

4 Reasons Every organization Should Invest in an Alumni Network

1.  Access to Skilled Workers
   As the battle for skilled workers becomes more competitive, organizations need 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. 
   
   
2. Knowledge Sharing
   Alumni are a great source of outside intelligence. They can provide competitive information, business practices, and industry trends. By keeping in touch with alumni, tap into this knowledge through surveys or forums where they can discuss ideas with your organization and other alumni. The alumni network also gives you the opportunity to learn information about your organization in an honest and unbiased way.
   
   
3. Obtain Client Referrals
   Alumni can not only refer new clients, but also become new clients for your 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.
   
   
4. 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 greater than the number of employees at an organization.
   
   Already have an alumni network for your organization and are interested in building and maintaining it? Check out "A Guide to Building and Maintaining a Corporate Alumni Network".