Corporate Alumni and Boomerang Recruiting Programs
March 8th, 2010Conenza’s passion is Enterprise Employee and Alumni Communities. We love this article by Dr. John Sullivan.
Economic downturns, mergers, and acquisitions all place pressure on organizations to curb labor costs. No time in the last decade has that tenet been more apparent than right now. Layoffs, large or small, force organizations to cut loose the talent in which they have invested salary and training dollars. While talent released during a layoff today may seem like little more than an expense, tomorrow it could be the difference between success and failure.
World-class organizations need to develop a process that will allow the organization to quickly and easily “re-recruit” alumni with proven track records of success when economic conditions warrant hiring.
The solution that makes re-recruiting possible is a corporate alumni program. Alumni programs allow you to maintain a mutually beneficial relationship with former employees who may someday provide significant value again, providing you with an excuse to remain in contact and a mechanism to recruit them back quickly when needed.
Corporate Alumni Programs Can Also Increase Revenues
While the primary reason organizations develop alumni programs is recruiting-related, lots of research demonstrates that investing in corporate alumni programs increases the sales lead generation and deal closing capability of the organization.
Program Goals and Benefits
Well-designed corporate alumni programs can benefit the organization in many ways. Some of the possible goals of corporate alumni programs include:
HR-related goals:
* To improve the quality of hires by rehiring top performers and innovators (boomerang rehires are low-cost, typically have higher retention rates and reach minimum productivity much more quickly than most external hires).
* To increase the number and quality of employee referrals by expanding the program to include alumni.
* To strengthen the employer brand image throughout the industry.
* To increase retention rates among current employees by developing a stronger positive image.
* To increase the number of mentors available to current employees.
Business-related goals:
* To generate direct sales by making alumni customers.
* To increase the number of leads generated (customer referrals).
* To capture ideas and innovations from alumni.
* To get product assessment help.
* To get benchmarking help and to learn about industry best practices.
* To gather competitive intelligence.
* To get help from alumni in building strategic partnerships.
Get in touch with Conenza to discuss corporate social networking and the benefits of a Corporate Alumni Program.