The modern employment market is vastly different from the one that was prevalent only decades ago – finding a good job with the intent to commit to it long-term and climb the corporate ladder. In today’s digital age, career advancement more often than not involves individuals changing job positions in a new company (or even switching industries) when the right opportunities arise.
However, it is unwise to assume that your business cannot benefit from maintaining these alumni connections – which is where platforms like Alumni Reach come in. Businesses must adapt to the landscape, and maintaining a network of previous employees come with a number of surprising benefits for all involved. Let’s find out 5 surprising benefits needed for every company out there!
1. Maintain A Positive Relationship With Employees
Utilizing alumni networks or platforms is a great way to make sure your employees feel valued and appreciated for their participation and efforts, even after they’ve left. A corporate alumni network will make it easier to keep in touch, send updates on the latest company changes, networking events, or recruitment efforts, and maintain an overall positive relationship. This, in turn, makes previous employees more likely to consider coming back or refer others to the company.
2. More Efficient & Cost-Effective Recruitment Drives
If you are seeking to hire someone for a new position, alumni networks are an untapped resource. Not only do they already know the inner workings and structures of your business, but engaging them also saves time and money spent on finding and training new recruits. They would have expanded on their knowledge and expertise in their previous work, making them a more valuable asset.
3. Gain Valuable Experience & Knowledge
Watching alumni’s journeys outside your company provides key insights into your business. They can help you understand:
- what can make your company a better fit
- what people need to maintain satisfactory levels of productivity
- create opportunities for you to look into any areas of your business that may be lacking
As expressed in Reason #2, any work experience that boomerang hires will bring back to the company will also be very valuable. The skills and expertise gained outside your company will provide a unique perspective on the growth and success of your business, but they can also help your business grow in ways you may not have considered before.
4. Gain Valuable Experience & Knowledge
Maintaining a positive relationship with former employees can also benefit the success of your company. For example, if you are looking to collaborate with their new workplace. But this isn’t the only case when alumni networks may come in handy.
Many universities, including leading world academies such as Harvard, Yale, Cambridge, and Oxford, have extensive alumni networks. Besides allowing alumni to remain updated on the latest news and networking events, previous students forming part of these networks can benefit from exclusive discounts and access to products, services, and career and learning resources. Graduates may also provide mentoring, fundraising, and learning opportunities to future students, adding to the overall brand experience of these institutions.
Businesses are also catching up to this idea – with big names such as Nestle and Microsoft offering extensive alumni networks where employees can benefit from a number of exclusive discounts, educational opportunities, and more.
5. Build On Brand Loyalty, Awareness & Development
Alumni Networks are another way for brands to build on their awareness, increasing brand loyalty and reach, as well as exposing themselves to different experiences and outlooks, strengthening your brand in the process. Employees who are proud of the work they do with your company, both old and new, are a big asset to the success of your brand and to expanding your clientele.
Find out more about Alumni Networks with Alumni Reach
We are no longer in a professional culture where businesses and organizations can allow themselves to “cut ties” with individuals once they leave their employment. Platforms like Alumni Reach provide a variety of features and incentives that encourage networking and community engagement and keep your people connected. Find out more about how you can benefit by contacting us or booking a free demo today.