Over 98% of Fortune 500 companies have some form of alumni program – it’s not about what you know, but who you know. Alumni networks are powerful and many companies don’t take the time to learn about them and their benefits. Creating and maintaining relationships with industry professionals can open the door to many new opportunities. Highly informative interviews, access to free resources and tricks of the trade, assistance with promotions and career changes, as well as finding the right candidate for your company are all benefits of having this kind of network established. Investing in these lifelong relationships also leads to measurable increases in revenue per employee, product innovation, and employer attractiveness.
While on the educational side of alumni programs such as college networks exist primarily for fundraising, corporate alumni networks exist for a wide variety of purposes. Corporate networks help companies access a larger labor pool by driving referrals or boomerang hires and creates an environment where mentees can easily connect with mentors. These alumni are also good for your brand as people are more inclined to trust someone with experience with your company. Alumni as brand advocates can be worth up to 5 times as much as an average customer and engaged alumni deliver a 10% increase in brand sentiment.
Learn more about the importance of having an established alumni network and how to stay connected with your alumni here.
Infographic provided by: AcademicInfluence.com