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Planning for Layoffs? Why a Corporate Alumni Program Should Be Part of Your Strategy

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Due to the pandemic many corporations have, or will be, considering a reduction in force due to overall restructuring. Cutting jobs and performing layoffs doesn’t have to mean cutting off all ties.

A lasting effect of the global COVID-19 pandemic is the need for many companies to restructure. Some employers are cutting jobs to rein in costs while they adjust to fluctuating market forces.

For human resource professionals, executing reduction in force (RIF) plans is a painful process. They know it’s the right thing to do for the business, but letting people go is never easy. Plus as circumstances change in the future it’s always possible that the focus could be on recruiting candidates to fill reopened positions.

That’s why offering employees membership in a Corporate Alumni Program during the offboarding process can benefit both those affected by layoffs and the organization.

Benefits of an Alumni Network - Connecting to the Community

As part of RIFs, many organizations offer separation packages and employment assistance programs. These types of benefits are a great way to demonstrate empathy for what the severed employees are experiencing. But they do not address the need to maintain ongoing relationships with former staff.

Alumni solutions offer a way to “break-up” with employees and offer them a reason to stay engaged with the organization by remaining a part of the community.

Helping a Laid Off Employee with the Transition

For the employees — who frankly may not have positive thoughts about the organization after being laid off — Corporate Alumni Programs are an opportunity to:

  • Connect and network with other former employees to discover new job possibilities or business development leads after they land somewhere else
  • Get access to internal job boards to search for positions within the organization or parent company, or other alumni companies where they might have a connection
  • Participate in ongoing events, professional development and corporate social responsibility activities to broaden their personal networks

There are also benefits for employers to maintain active Alumni Management Software:

  • Eases the process of rehiring qualified candidates
  • Develops ongoing affinity for the organization’s brand, which is reflected in Glassdoor ratings and other business-impacting activities
  • Encourages former employees to think of the organization for new business opportunities to the organization

 

While no company wants to lay off employees, adding a Corporate Alumni Program membership to the list of offboarding benefits can soften the blow for everyone involved — now and down the road.