The ability of the corporate alumni to drive any company is undeniable. But the company alumni do not pay much attention to most of the companies. These companies fail to realize the alumni relations’ true potential, and their value is yet to be discovered.
Employees from a significant part of any organization spend quite a considerable number of years working with an organization. It eventually helps to build value for its customers. They nurture associations with colleagues.
There is a time when the employees eventually leave. Some leave to grab a more favorable position, while others go due to uncooperative managers. Some leave with a cheerful face and a few leaves distressed.
Here are the foremost reasons that indicate alumni to be the most powerful untapped assets:
Brand Ambassadors
Each of your ex-employees is an ambassador representing your company’s brand in one way or the other. So, whether you like it or not, you have to accept this.
When it is about your former employees, you do not have any control over them, and so your brand is not entirely under your control. When you spend money on marketing strategies, it does raise awareness. But, it is the social media that gets you the most buzz.
When the alumni communicate their thoughts on social media, they are talking about your company in one way or the other. So, it would be best if you had good alumni relations and engagement strategy in place as your former employees act as brand advocates on your behalf.
Companies can integrate NextBee’s engagement platform to run an advocacy program to strengthen business process that has features like:
- Personalized rewards and incentives strategy for brand ambassadors to be with the company
- Keep daily sweepstakes to increase employee community motivation and makes advocacy runs smoother
- With NextBee’s advanced platform based on real-time experience, brands can employee advocacy campaigns to measure their set goals
Business Growth
Your employee might quit the job, but there is a higher probability of returning as a client or referring to others. If we see from a marketing perspective, alumni play a vital role. There are chances that your ex-employees will be employed by organizations that offer the same products or services as your business.
It can enable them to send business your way and vice versa using referrals, leads, etc. So, it becomes essential that you keep them up to date about your new offerings so that they can promote these when appropriate.
Industry Intelligence
Your ex-employees are a great source of industry intelligence. They possess information about the outside world and are well aware of what makes the company tick.
When you make the alumni a part of your booming association that offers real value and benefits, they do the extra mile to advocate for their former employer.
Staffing & outplacement
Yes, your ex-employees are a great source of referrals. Of course, recruiting quality candidates is a pricey affair.
Considering the cost of professional recruiters and the rising shortage of expert candidates suitable for the job, seeking alumni referrals holds a more excellent capability to fill your positions.
Alumni are well aware of your business values and corporate culture. Due to these reasons, they are highly suitable to refer you candidates from within their network.
When your ex-exployees receive good treatment and value, they help you recruit the talented pool and reinstate the current employees looking for new opportunities. Offer your ex-employees a referral incentive or something that holds value to them.
Thus, it becomes essential that you have an appropriately implemented corporate alumni network in place. For example, McKinsey, Bain & Company, and BCG have reputed business models for the corporate alumni network.
These companies hardly advertise or recruit candidates publicly. And, yet it holds the top positions with a striking clientele and excellent pool of candidates. So, the credit here goes to the corporate alumni network, which will soon gain ground.
NextBee’s employee engagement solution has helped over 10 million users across the globe. Some popular companies like Netflix and American Eagle are some of our top clients to name a few.
Get in touch with our experts to get a free consultation today!
