Managing the Cultural Fit Challenge with Corporate Alumni RecruitmentOctober 23, 2015
Today's corporate recruiters face many challenges. As employees become increasingly mobile, top talent is becoming harder to both attract and retain.
Recruiting candidates that are a good cultural fit is another critical challenge for recruiters. Katherine Klein at the University of Pennsylvania's Wharton Business School says that the idea of cultural fit is an "incredibly vague" one, sometimes based on nothing more than gut instinct and predetermined biases.
Despite the vagueness of cultural fit and how susceptible it is to prejudice, it's still something that recruiters must keep in mind to hire the right people. The Harvard Business Review reports that poor culture fit can cost a company between 50% and 60% of an employee's annual salary.
Solving the Cultural Fit Challenge with Corporate Alumni Programs
On the surface cultural fit might seem like an obstacle for recruiters and HR managers but the increase in employee turnover provides organizations with a larger corporate alumni pool.
High-potential alumni are prequalified for cultural fit: they have lived it. This means that recruiters can save time and money during the recruiting process by hiring these former employees.
The vast savings that result from hiring alumni and the increasingly large pool of alumni candidates today means that having an effective alumni program in place is more important than ever for finding the right talent.
Companies that want to get the most out of their alumni recruitment must maintain engagement within the community of potential applicants.
Improving Alumni Recruitment Through Engagement
Here are three tips for creating an engaged alumni network that can save you money on recruiting costs:
- Reach them at the right time. Research shows that employees are most likely to leave their current employer after 12 months of employment. Corporate recruiters would be wise to reach out to alumni around this time to let them know about open positions that match their skillset.
- Provide information they are interested in. The increasing size of the corporate alumni pool means that individual alumni may have very different needs and interests. Make sure that you are segmenting and targeting your alumni correspondence to ensure that every alumnus receives information that is relevant to them.
- Make it personal. It's great to have an alumni newsletter or database that an alumnus can use to find out more information about what's going on at their old company, but many alumni are looking for engagement that goes beyond an automated message in their inbox. By taking the time to personally reach out to alumni to catch up and ask them about their new position, you strengthen your connection with them and increase the likelihood that they will consider you when they decide to change jobs.
To learn more about how to create an engaging alumni program that improves the success of your alumni recruitment, schedule a tailored demo of Insala's alumni software.