Do you know what Tesla, YouTube, LinkedIn, and Yelp cover in common? These are the most significant standing businesses that are the perfect examples of modernization and enormous monetary triumph created from a corporate alumni network.
All these platforms begin with the alumni of one organization – PayPal. They are known as the “Paypal Mafia” and are talking as Silicon Valley’s wisest people. They are accountable for funding some of the most excellent technology companies to be launched in recent times.
It is a clear illustration of how important an alumni network can turn out to be when it is about business expansion.
How we define a Corporate Alumni Network?
What happens when an employee leaves an organization – there is a cake cutting ceremony and good memories are talked about, few words of gratitude for the employee’s hard work he put in the company’s growth, and then people leave for their places.
The organizations now understand that they do not need to end the terms with their former employees. Instead, they treat their ex-employees as “alumni,” hoping that these people will have the same preference towards their former employer.
The Corporate Alumni networks are the expert networks that enable a company to stay in touch with their ex-employees. These are the sources of immense talent and intellect that might return to their former organization to work.
Keeping a constant touch with the alumni makes a company access the record and connects to the valuable resources that were once a part of it and are yet in mind.
Alumni relations are not to be forgetting and are worth keeping. Companies can always make use of the alumni to get referrals, more business, and contributions to the matters that only that person can understand who has been a part of it at some point in time.
These relations also turn out to be beneficial for the former workers who can get the opinion and job leads for there. They can also show interest to rejoin the organization equipped with experience and having more connections.
Benefits that a Corporate Alumni Network gets you
Keeps you in touch with the intellect
Forming a Corporate Alumni Network is a fantastic way to stay in touch with your former employees’ intellectual capital.
As they grow in their careers, they can even be a great source of opinion, information, and associations to help prop up your business initiatives. It further acknowledges the first-rate employees with career improvement support.
Brand Advocacy
Connected and reliable alumni can be a great source to cultivate your talent brand.
They are a great way to get you an extremely valuable, but usually are an unnoticed marketing channel who can be an asset to you even after leaving your organization.
Always bear in mind that the alumni network carries an organization’s most trusted supporters.
Enables you to Recruit talent
Pulling and holding back the top talent is a tough battle for the organizations and talent management team. The research has shown that alumni are an excellent source for talent possession just after your existing employees, whether about the referrals, rehires, or contracting.
An Alumni network not only lets you magnetize the top talent, but it also brings down your cost of recruiting, lowers the turnover, and expands the connections.
Employees who leave your organization somehow move further in their careers and life. Keeping in touch with them helps you maintain relations that can further assist you in making important decisions.
These significant relationships greatly help your sales and business teams get on the inside track to get more profits.
How to get into the Present-Day Corporate Alumni?
As already discussed, the corporate alumni’s function is sprouting, and becoming a vital part of the business’s great working.
The PayPal group, the great employee alumni of PayPal, has funded and is still supporting some of the most flourishing private technology organizations. If the PayPal alumni can do this, think about what your alumni can do.
There are various ways to set up or form a huge corporate alumni network. You can assign one of your employees to act as a point person. They can handle tasks like gathering the former employees’ contact information and working on the program.
Another way is outsourcing this entire process to the company that holds the expertise in managing these kinds of alumni groups.
You can also allow your ex-employees to develop an alumni network and provide essential support. They can do it by using your company’s name and logo, producing the alumni newsletters, or in event hosting.
Alumni groups make sense for the employees and employers. Keeping contact lets both teams get into valuable business connections and form professional relationships with time.
Instead of saying goodbye to a cherished employee at the time of their leaving, you must keep the doors of communication open for mutual benefits.
Why NextBee is the first choice for building Corporate Alumni Programs?
NextBee specializes in providing you with unique corporate alumni solutions. We also help you form a more robust alumni network with its robust features that are helpful in:
- A 360-degree approach to engaging employees and customers makes them motivated to participate in rewards and incentives programs
- Employees can quickly share earned rewards and achievements on social media that leads to greater awareness. Each social activity can be tracked and monitored
- Brands can create special personalized recognition programs for employees so that each team member can take active participation
So, what have you been waiting for? We help you stay ahead of your competitors by ensuring that our solution gives you a competitive edge.
For more information, get answers to your queries by getting in touch with our experts.
