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The Business Case for a robust Alumni Program
Recruiting & Staffing
The Business Case for a robust Alumni Program
Exchange ideas about sourcing, screening, interviewing, finding passive candidates, measuring your results, and more.
Does your company have an Alumni Program? Many do, although most treat it rather like a corporate website; a necessary investment, but not one deeply aligned with the business strategy.
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Forums » Topic Forums » Recruiting & Staffing » The Business Case for a robust Alumni Program
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The Business Case for a robust Alumni Program
posted at 1/20/2010 4:20 PM EST
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Posts: 5
First: 1/14/2010 Last: 1/4/2011 |
Does your company have an Alumni Program? Many do, although most treat it rather like a corporate website; a necessary investment, but not one deeply aligned with the business strategy.
There are however, plenty of opportunities for value realization in excess of the cost, particularly if your alumni strategy, as a component of your Talent Acquisition strategy is leveraged appropriately. Done properly, successful Alumni Programs reduce the cost of Talent Acquisition, reduce time to fill, and market the Employment Value Proposition to the multi-generation workforce, in their mediums of choice, on a voluntary opt-in basis. Here are four key area of impact that drive your Alumni Program value: Job Performance: Alumni are known assets of the company with a job performance history which can be referenced, making them less of a performance risk than someone new to the company Fast on-boarding and time to productivity as they are aware of company culture and policies Minimal training required Reduced Talent Acquisition Cost: Rehired at payroll rates not vendor mark-up rates Minimal recruitment cost Reduced/eliminates Training Cost No technology license or maintenance cost (if program is outsourced) Management focus on core competencies and KPIs, not recruiting Leverages skills and otherwise lost tribal knowledge in an on-demand fashion Reduces the time positions go unfilled Risk Management: EEO and OFCCP compliance liability transferred to provider (if outsourced) SOW governs employment and responsibilities Reduces termination liability and cost Reduces mis-hires since skills and capabilities are known Communication: Addresses both Contingent workforce and Employee alumni populations Multi-generational workforce friendly Delivers content and messaging through mediums of choice on a voluntary Opt-In basis Reinforces Employment Brand and Employment Value Proposition by keeping alumni connected to the company Provides Alumni with a connection to the company and an inside track to new opportunities Outsourcing your Alumni Program makes a great deal of sense in that you can capture both economies of scale as well as industry leading best practices delivered as a Managed Service, measured and managed against defined benchmarks and metrics and offload the overhead associated with an internal build-out. But regardless of the choice to buy or build, the benefits, savings and strategic value to the business far outweighs the cost, and is one of least expensive ways to leverage your alumni into future business results. How does your company drive business value out of its Alumni program? What are some of the keys to your program's success? Please share your thoughts and comments. |
Forums » Topic Forums » Recruiting & Staffing » The Business Case for a robust Alumni Program
