SelectMinds AlumniConnect™
The value of life-long relationships
“Over the past three years, 25 percent of E&Y's hires at the manager level and above have been so-called boomerangs, or returning employees. The firm's internal studies have shown that these rehires tend to stay longer and perform well the second time around.”
— CFO Magazine, ‘Keeping in Touch’
In today’s knowledge- and service-intensive economy, primary corporate assets are intangible knowledge, expertise, and goodwill. In this environment, employees with exceptional skills, experience, and corporate knowledge provide the primary value creation. Yet, when employees leave an organization, often managers wish them well, the relationship ends, and businesses end up ignoring a highly valuable resource for future hires, candidate referrals, and employment brand ambassadors: corporate alumni.
Forward-thinking employers recognize that investing in life-long relationships with alumni carries measurable value. SelectMinds AlumniConnect unlocks this value, including:
- Re-recruitment opportunities. Rehiring proven performers is the easiest, most cost-effective way to acquire exceptional talent. They are half the cost of new hires (Deloitte); 40% more productive in the first 6 months (Harvard Business Review); and stay twice as long as new hires (SHRM).
- Referrals to top-tier employment candidates. Alumni can act as employment brand ambassadors, knowing your organization and culture better than external recruiters. Well-placed alumni are ideally positioned to send you qualified candidates, and, with each alumnus your Network touches, you extend your reach. Just because one member doesn’t know a good candidate doesn’t mean that their friends, or friends of friends, don’t.
- Prevention of lost knowledge. So often when employees exit your workforce, they take with them ‘business wisdom’ and business connections that were not captured before they left. AlumniConnect provides you with the resources to maintain access to continued knowledge transfer.
- An inside track to new business opportunities. As alumni move into key positions at prospects, clients, and strategic partners, they can provide you with market intelligence, favorable influence, and direct and indirect business referrals.
Through SelectMinds AlumniConnect, you can provide your former employees with valuable resources, including a Career Center, Events and News Pages, and a powerful Directory. For your Alumni manager, SelectMinds provides a comprehensive AdminConnect portal through which he or she can manage all communications, events, and interactions with your alumni. SelectMinds' proprietary Corporate Social Networking technology creates a secure, interactive space where members can build and create their own personal and professional networks, connecting with each other and their former company.
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