The role of Alumni Management in ‘The Great Resignation’
The Great Resignation is a theory suggested by experts across the world, who predict that after the COVID pandemic is over and life returns to “normal,” a great number of individuals will leave their professions. While businesses have been able to survive the epidemic because of technological advances, it is only now that executives are beginning to address the consequences of its end, as people continue to re-evaluate their professions and quit in historic numbers. In the United States, corporations have a record number of unfilled positions, and a recent in-depth analysis by Ian Cook and his team of more than 9 million employee data from 4,000 global companies identified two trends:
1)The highest percentage of resignation is among mid-career employees
2)The highest rate of resignation is in the technology and healthcare industries
There are many different types of corporate alumni programs. Some are managed by company personnel and have specific membership requirements and fees; others are simply created online and left to former employees to maintain the network and connections. The most forward-thinking businesses provide a full alumni infrastructure. To keep former employees in touch with the organization, large multi-national corporations and conglomerates use social media, dedicated alumni websites, and company newsletters. Such platforms can be utilized to highlight both graduate and current employees’ accomplishments, which several of our interview subjects found very inspiring. An antidote to the Great Resignation is required, much as a vaccine is required to combat COVID-19. Alumni Programs are the answer. Here’s how forming an Alumni Network might help you safeguard your company.
Having a Smoother Exit Process
Employees being influenced heavily by the great resignation would seek congenial portals to avail the gargantuan stack of post-exit documentation in one place. This not only provides convenience to the ex-employee but reinstates good with the employer as well. The usual relationship between an HR and an Ex-Employee is not very soluble. Having a helpdesk under one roof provides streamlined post-exit operations which also acts as a resource center where the company can host exit interviews and their exclusive services.
Building Brand Ambassadors for Life
An alumni program provides other practical benefits in addition to a significant cultural boost. Alumni are frequently the finest brand ambassadors for a company, and this often manifests itself best on employee review websites. They also know a lot about the company and its products and services, even though they are no longer employed. As a result, they exude objectivity that current employees and marketing materials lack, which is why alumni are so valuable to your company. Furthermore, previous employees can return to the organization for little or no expense, filling crucial tasks in a flash.
According to client feedback, up to 80% of leavers remain in company ecosystems and frequently become important income generators as clients or business partners. Former employees with a thorough understanding of the business and the ability to minimize time-to-market provide some of the most innovative ideas. Finally, alumni involvement in community projects helps to have a greater impact and form enduring ties.
Allowing Your Employees to Know That You Care
The Great Resignation appears to be a huge threat to businesses of all sizes and industries at first appearance. However, a closer examination reveals an opportunity for businesses to show compassion for their workers. Bonds are only tested under hardship, and a clean break can assist companies and their alumni establish everlasting respect. This, in turn, can contribute to a positive company image and high re-entry rates for skilled alumni.
Here at Vaave, we designed a powerful alumni management tool that takes care of your alumni community. With 10+ years of leading the market, Vaave has been at the forefront of enabling meaningful alumni relations.
Visit: https://www.vaave.com or write to us at hello@vaave.com to understand more about Alumni relations.
