There are few companies that try to engage effectively with their corporate alumni even after they leave. But nowadays, things are changing especially in organizations that have a strong corporate culture. Amazon, Credit Suisse is the companies that have well-established alumni networks and are completely open to rehiring Boomerang employees.

According to research, around 15% of the respondents said returned to their former employer, and approximately 40% said they would prefer boomeranging back if given an opportunity. Nearly 40% of employees showed interest in rejoining their old organization. This, therefore, is a tremendously priceless opportunity for any HR team or organization. Further, then the additional band of the great workforce, former employees hold the potential to provide value on multiple levels to the company.

1) Diminished Hiring Risk

These former employees are known people who certainly are less risky hires. They previously recognize your organization, are familiar with its culture and processes, and are expected to be a wise decision for a low onboarding cost. They also bring with them new acquired skills and perceptions of the team. Moreover, they have a positive impact on their colleagues.

2) The Corporate Alumni Referral Network is Advantageous

Even if your former employees are not keen on joining you back, they still can refer to suitable candidates. There are organizations that have their employee referral programs in place which is restricted to their existing employees. They must manage it the right way by making the corporate alumni its members as they have a great network, and help you look for top talent. Your former employees who have good relations with you can highly persuade others to become a part of your organization.

3) Amplify Employer Brand with Corporate Alumni Reviews

Social media platforms and the review websites and communities namely Glassdoor have made things quite simple for the former employees to talk about their professional experience in detail.

Former employees have the power to improve or damage your company’s reputation. Potential recruits always read reviews from corporate alumni. 

4) Maintain a great Customer Experience

Corporate alumni bad exit experience can drive him to discontinue the use of your company’s products and talk bad about your company or brand. They might also begin working for a client who is availing of your products and services. If you had a bad relationship with him, there is a higher probability that they might take their contract to some other company.

5) Cost-Effectiveness

Setting up and maintaining a sound corporate alumni network and constant communication with your ex-employees certainly asks for a relatively slight investment. This is due to the reason that you before now possess the information and networks and thus do not require the advertisement and license costs linked with sourcing new talent.

So, you need to have the right technology to remain greatly engaged with your alums and keep personalized communication with them. Make sure that you do not eliminate your former employees from your database when they leave your organization as they still will be an asset for you.