The former Managing Director in Citibank’s Corporate and Investment Bank shares his experiences building the company’s EMEA alumni program.Read more
How Leveraging Alumni Networks Can Drive The Bottom Line
An alumni network is one way to counter the challenge of locating the right freelancers with the right skills, at the right time, and the right cost.
A recent study by Worksome in the UK revealed the importance of locating the right part-time staff with the right skills. The study showed that nearly two thirds (62%) of business directors know that freelancers can benefit their business but over 80% thought they were too expensive to locate and hire. A vibrant alumni network is one way to counter the challenge of locating the right freelancers with the right skills, at the right time – and in a cost-effective manner.
The study also found that whilst nearly half of business owners rate freelancers as more productive than permanent employees, only 20% of businesses will look to hire freelancers in the coming year. This shows a lack of information and understanding about the true cost of freelancers, and how they can help not hinder the bottom line – and why it is critical that businesses build alumni communities with information on skills and employment requirements.
Many businesses hire part-time staff over full-time in an attempt to save money and optimize skills. But the talent challenge is pervasive: businesses across the world are finding it increasingly difficult to hire critical talent and are seeking enhanced ways to find the right part-time employees.
Morten Peterson, CEO of Worksome, said that “to build and maintain a core loyal workforce amidst uncertain times, and sustain the long health of a business, the logical approach for employers is to hire a blend of full-time employees and freelancers.” And Alumni are one key way to access a pool of skilled, part time people.
How technology, freelancers and alumni combat the talent challenge:
- Businesses now better understand and invest in the freelance economy to support the ability to expand and contract as market conditions and staffing demands shift.
- Initial upfront costs have historically deterred many businesses from even considering the freelance talent pool – but as technology evolves and the recruitment challenge is streamlined, supply and demand can ease the ability to expand and contract teams, delivering more cost effective and efficient solutions to the recruitment challenge.
- Alumni are one key pillar of identifying and hiring the right freelance talent. A vibrant alumni community can pair those looking for opportunities with the right jobs, with EnterpriseAlumni’s SmartMatch tool aiding intelligent matchmaking for customers around the world.
Freelancers make it possible for businesses to hire the most skilled and suitable talent, with far less financial risk attached. And alumni are a strong part of the freelance community who hold the key to overcoming these difficulties.