Alumni networks enable companies to tap into the value of former employees, driving down recruitment costs, increasing productivity and creating brand value.
Organizations are prioritizing corporate alumni networks. IDC’s recent research report on the Business Impact of Corporate Alumni Networks sets out how companies are urgently realizing that maintaining a lifelong relationship with departing employees delivers competitive advantage and community – and drives sales, marketing and recruitment.
Detailing how companies that invest in lifelong relationships with their employees consistently outperform organizations that do not, the report draws on research and thought leadership confirming why a corporate alumni platform is a critical component to manage and engage this community.
Citing Reid Hoffman, the founder of LinkedIn, the report quotes “LinkedIn. Tesla. YouTube. Yelp. Yammer. SpaceX. What do all these companies have in common? They’re not just examples of innovation and financial success. All of them were founded by the alumni of a single company: PayPal. Lifetime employment might be over, but a lifetime relationship remains the ideal, and as the alumni of PayPal have demonstrated, it can be extremely valuable. Unlike the free agency model, the alliance can and should persist even after an employee’s final tour of duty.”
Andrea Legnani, Global Head of Alumni Network at Citi, details how when seeking next-level technology to complement the organization’s existing alumni outreach efforts, EnterpriseAlumni immediately resonated through their use of the most innovative technologies. He noted the analytics and dashboards give tremendous insights into how much money they are saving through the network and their integrations with other HCM vendors to facilitate data integration were key reasons they chose this vendor.