Benefits of Hiring from Your Corporate Alumni Network
One of the great benefits of implementing an alumni network for your organization is the increased possibility of re-hiring employees. These re-hires, also called boomerang employees, may have left your organization, but because they chose to be part of your alumni network, they are usually still very engaged.
The re-hiring of boomerang employees has been on the rise during the past few years and it’s not hard to see why. Your organization can receive several benefits when you look into your alumni network to fill a position. Here are a few of the top benefits…
1. They Are Familiar with Your Organization
This is one of the best benefits of re-hiring an employee. Not only will they already know about your culture, but the time it takes to onboard can be cut down and they can be a productive employee much sooner.
2. They Bring New Knowledge and Skills to the Position
You knew what they had to offer when they left your organization, and now they will be bringing back so much more. You can expect your boomerang employees to come back with knowledge and experience from outside of your organization. This can give you the upper hand in predicting the industry trends.
3. Potential to Increase Retention
All your employees will take notice when one of their peers returns. Your boomerang employee can attest to the improvements made since the left and let others know what is available outside of your organization. This information has the potential to increase retention rates as people realize that your organization is their best option for success.
4. Reduce Hiring Costs
When you choose to hire a former employee from your alumni network you are giving yourself a chance to save a lot of money on hiring costs. Recruiting costs and advertising costs that are usually needed when hiring outside of your talent become obsolete and you can simply focus on the right candidate for the job from your alumni network. It’s been reported that organizations can cut costs up to 50% per hiring by choosing to employee a boomerang.
Insala is a pioneer and industry leader recognized by Global 1000 and Fortune 500 companies and associations internationally, for 20+ years as a leader in Career Management, Mentoring, Coaching, Career Transition, Alumni Software solutions and People Analytics.