Engaging your Alumni to drive bottom-line impact in the retail and food-service industry
For companies in the retail industry, whether in food service, fashion or a brick and mortar focused chain, the importance of an Alumni platform and community extends well beyond expanding a talent pool. For retail, as with many other sectors, Alumni is a “Recruiting & …..” conversation.
And in this case. Recruiting & Sales.
Employees. Become alumni. And both have the potential to be existing and future customers in addition to being an integral part of your workforce.
What if, in changing the status of an employee in your HR system to Alumni, companies mark this change of status as moving from employee to customer? Or employee to a guest? Why not extend the very same dedicated customer service mentality directed to your customers to your departing employees?
What would be the impact if a small part of your Alumni are converted into retail customers? And how can retailers leverage their Alumni community by extending their customer service principals in addition to driving both efficiency and revenue to the bottom line?
Switching From Employee To Customer:
What if there were incentives in place to encourage employees to want to be part of the ecosystem and stay a little longer in order to benefit from alumni perks? This could potentially reduce employee churn as well as send a positive message to employees that they are valued, even after they have left.
Many organizations already offer their employees deep discounts and perks during their tenure – but what if these extended to your Alumni on departure? Consider a restaurant chain that hosts a regular Alumni day monthly, offering a specific discount to family and friends. Or a special card or app code former employees can use at check out. We know that to be compelling to alumni.
Or a retail store that allows alumni in-store or online discounts, even after leaving. The unit economics undoubtedly require attention to ensure that these customers are still profitable but in Alumni, companies have a readily available audience informed about their brand.
Alumni are a ready-made group who do not require large advertising spend to be directed to them in order to familiarize themselves with your brand. And for alumni, this is a generous perk of having been a part of your organization creating goodwill. With former employees often the best source of referrals to fill new positions, this goodwill is valuable.
Expanding Past Recruitment:
Recruiting & …... is about ensuring that your organization’s Alumni are not just considered a talent pool. Rather, it is about a 360-degree approach to how alumni and employers can work together, leading to wins in areas ranging from sales to operations to cost-cutting and more.
Alumni engagement demonstrably has the ability to impact your bottom line and reduce churn and the costs associated with it whilst also positively impacting business development …. because when employees leave, they are provided an incentive and easy path to becoming a customer. And everyone wins.