Corporate Alumni Network
SelectMinds AlumniConnect™: Your Best Source For Top Talent & New Business
Free Whitepaper
Learn best practices on networking with alumni to improve talent management and business development.
Deloitte makes no bones about its aim to use their [Corporate Social] Network to lure back former employees, or so-called boomerangs. ‘Last year, 20% of our experienced hires were boomerangs,’ says Karen Palvisak, a national leader of alumni relations for Deloitte.
BusinessWeek, “Social Networks: Execs Use Them Too”
In today’s knowledge and service economy, primary corporate assets are intangible: knowledge, expertise, and goodwill. In this environment, employees with exceptional skills, experience, and corporate knowledge provide the primary source of value creation. Yet, when employees leave an organization, often managers wish them well, relationships end, and businesses end up ignoring a highly valuable resource for future hires, new deals, partnerships, referrals and brand ambassadors: Corporate Alumni.
Forward-thinking employers recognize that investing in life-long relationships through comprehensive alumni programs carries measurable value. SelectMinds AlumniConnect™, the alumni social network, unlocks this value, including:
Re-recruitment opportunities. Rehiring proven performers is the easiest, most cost-effective way to acquire exceptional talent. According to SelectMinds clients:
- 66 percent of rehires become “Star Performers,” versus 26 percent of all experienced hires.
- Rehires come up to speed, on average, nearly 50 percent faster than all experienced hires.
- Rehires stay at least twice as long as all experienced hires, on average. Many stay for the remainder of their careers.
Referrals to top-tier employment candidates. Alumni programs, based on your alumni network, can help to create strong employment brand ambassadors who know 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.
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. In a single year, a SelectMinds client in the professional services industry generated $180 million in new business through alumni relationships.
Continued access to domain expertise. So often when employees exit your workforce, they take with them ‘business wisdom’ and key connections that were not captured before they left. AlumniConnect provides you with the resources to maintain access to continued knowledge transfer.
Benefits to your alumni. Through your SelectMinds-powered alumni program, you provide your former employees with valuable resources, including a social network engine that connects them to each other and your organization, a Career Center, Events and News Pages, a powerful Directory of their peers and other flexible marketplace options, from consulting opportunities to new business advice. Alumni will keep returning to your program to connect with former colleagues and learn about positions and opportunities posted for your organization—and those posted by other 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.
