Corporate alumni platform management solutions are a solid, long-term strategic investment for HR teams around the world.
Recruiting, retaining and attracting talent has become a major challenge for HR departments. With the pandemic shaking up the labour market, it has never been more important for organisations to explore every possible avenue. And while much energy is rightly devoted to attracting and recruiting new talent, many companies are failing to maximise the potential of their former employees.
Alumni network and recruitment
Boomerang employees – people who have already worked for a company – are a valuable and largely under-exploited talent pool. Companies that invest in lasting relationships with their employees generally see their revenues, profits and attractiveness to employers increase compared to those that do not.
Yet despite the obvious benefits of a strategy to manage and engage former employees, most employers overlook this vast talent pool.
Although more and more organisations are taking steps to engage with this talent pool, alumni platforms have only recently become essential for HR teams. The opportunity to tap into and maximise this vast pool of people is still in its infancy for many businesses.
Creating alumni platforms for former employees
This is an important opportunity. At a time when turnover is rising in almost every sector and in every country, it makes sense that most companies have more people who have worked for them than ever before. Engaging these alumni can pay huge dividends. They can be positive forces in your ecosystem – referring candidates, bringing in new contracts or partnerships, or being excellent references for people who see you as an employer, customer or partner.
What’s more, when boomerang employees return, they are motivated and convinced, and their time to productivity is very short because they are already familiar with the company’s standards, values and culture. There is no barrier to a company not having an alumni strategy, and it is very easy to put in place.
The biggest challenge for HR professionals is to invest time in creating and managing their alumni network and corporate platform. Once launched, the rest falls into place very quickly.
Commitment as a core value of your alumni network
The main thing to remember is that a corporate alumni network cannot be created overnight. The company needs to have a clear strategy, be seen to be in it for the long haul and be there for its employees.
Finding effective ways to engage with former employees has been a challenge for many organisations. Many companies have harnessed the power of online platforms, such as LinkedIn or Slack, but more often than not, these solutions fail to provide a systematic and consistent approach that drives real engagement.
Another challenge is getting the employees in the business to engage. And with HR now responsible for every point of contact with employees, choosing the right alumni management platform has never been more important.
