More Companies Embracing Corporate Alumni Programs As Part Of Employment Lifecycle Strategies
The 5th annual Alumni Benchmarking Report reveals that companies around the globe are proactively building or expanding corporate alumni programs.
Where do you see yourself in five years? Now that we’ve completed the fifth annual 2018 Conenza Alumni Program Benchmarking Report, we have a great one-word answer to that question about the development of Alumni Programs: growth.
Conenza’s report finds that more companies around the globe are proactively building or expanding Alumni Programs. The growth can be attributed in part to the evolving concept of the employment lifecycle, which extends beyond the time an employee is on the payroll, according to Bersin, a division of Deloitte Consulting LLP focused on human resources insights.
More than ever, companies’ touchpoints with employees cover everything from recruiting, onboarding, and performance management all the way through the life of employee, even after they leave the company.
The 2018 Conenza Alumni Program Benchmarking Report finds that organizations value Alumni Programs as a way to engage employees in the “after” part of the employment lifecycle. Companies are proactively tapping into their network of alumni to nurture brand ambassadors, business partners, employee referral sources and the return of talented alumni as rehires.
Alumni Programs are valuable for the recruiting process, as well. We know the current job market is very competitive. In addition to good pay and benefits, employees want to feel a sense of belonging and purpose. The growth and maturation of Alumni Programs is evidence of how organizations can engage employees for life and demonstrate their commitment to the employee experience. It’s a compelling feature for current and former employees, as well as job candidates.
Key growth areas
2018 Conenza Alumni Program Benchmarking Report uncovered growth in alumni programs in a number of areas, including:
- Organizations of all sizes continue to implement Alumni Programs, but the sweet spot is companies with 5,000 to 25,000 employees.
- Brand advocacy and business development extend their leads as the top two business drivers for Alumni Programs.
- Nearly 60% of companies include current employees in their Alumni Programs, embracing the concept of the employee experience that extends from onboarding to alumni status.
- More companies use third-party vendors to help gather and analyze data; however little progress has been made on the quality of the data.
- More Alumni Programs measure ROI than prior years with member engagement and member growth still leading the way as the top metrics.
Complete the form below to receive the complete 2018 Conenza Alumni Program Benchmarking Report via email for more insights about how Alumni Programs can nurture the employee experience.