The word alumni seems to be everywhere you look these days, from the halls of academia to the corporate sector. But why is it so important? And what exactly does it mean for these two communities that seem, at first glance, to be so far removed from each other?
The truth is that they are not so far removed at all, and both rely on thriving alumni networks for growth and development. We get to the crux of the matter in this short guide, which explains what alumni involvement can mean to their respective communities.
Definition of alumni
The simplest definition of an alumnus (plural: alumni) is a former member of a specific group. This is most commonly used in the academic setting, but companies can have alumni, too.
So, former students and graduates can be alumni, and former employees can be alumni. Investing in alumni associations for your academic or corporate alumni can offer multiple benefits for both the alumni and your institution or organization.
Alumni in education
In higher education, the term alumni typically refers to former students and graduates of an academic institution like a college or university. These are academic alumni, and what unifies them is their former ties to a common alma mater.
Roles and contributionsÂ
Academic alumni play an important role, and often make very valuable contributions, to the following areas of academia.
Networking and mentorshipÂ
After graduating, college and university students pursue careers in their respective fields of study. They form new connections with industry peers and acquire new skills and expertise. These academic alumni are the best matches for mentoring the next generation of students at their alma mater.
Networking events bring these academic alumni together. Although they may have moved in completely different directions to further their respective careers, this is a good thing. They all bring unique perspectives to the table, and together, they can rebuild a struggling alumni community.
Philanthropy and fundraising
Academic institutions all have different-sized budgets and unique approaches to campus resource allocation or community involvement. However, they all need help with their various philanthropic ventures and fundraising drives from time to time.
Academic alumni, having established themselves in their careers, and perhaps even started their own businesses, are ideally suited to assist with these endeavors. Among them, they have the connections, knowledge, the solidarity, and the financial means to get these projects off the ground.
Ambassadors and advocates
Notable alumni are also the ultimate ambassadors for the educational institution and the best advocates for its various causes. The more successful they have been since graduation, the more they represent the opportunities that an education at that particular institution can offer prospective students.
That is why alumni engagement is so crucial. Their lives will have become a lot busier after graduating, and memories of their student days and friendships can soon fade. An alumni organization will foster continued fellowship and interest in the educational institution that paved their path to success.
Alumni in enterprise
In an enterprise, the term alumni refers to former employees of a business, especially a corporate organization. These are corporate alumni, and what unifies them is their former employment in the same company.
Roles and contributions
Corporate alumni play an important role and often make very profitable contributions to the following areas of the corporate sector.
Knowledge sharing and networking
A corporate alumni network offers former employees of an organization the chance to network and share knowledge with their fellow alumni/former colleagues. However, their entrepreneurship advice and knowledge sharing do not have to end there.
Corporate alumni are the best mentors, in-person or online, for new and junior employees. Because they have faced the same challenges in the same organization, they know best how to overcome them. Employees struggling to fit into new work roles will learn much from their predecessors’ industry insights.
Business development
In any corporate alumni network, at least one (and typically more) will have started their own business or moved up through the ranks to a higher position of influence. Such individuals offer much value to the future success of the business that formerly employed them.
Corporate alumni are ideal candidates for hosting talks on business development and also individual professional development. They can also arrange meetings with influential figures and thus open the door to new business partnerships.
Talent acquisition
Talent acquisition is of paramount importance in any enterprise, which is why so much effort and money is poured into recruiting and headhunting. Corporate alumni can be the solution here, too, and in more ways than one. You may want to consider incorporating your alumni network into your recruitment drives and talent management system.
These former employees can refer people from their new corporate communities as candidates for consideration. However, the alumni themselves are often the best candidates, as they are already familiar with the company culture and organizational structure. The increase in boomerang hiring proves this.
The importance of alumni networks
Alumni are the bridge between their former academic institution, or employer, and the outside world. They are the best mentors and fundraisers, and the ultimate brand ambassadors. They can also inspire current students and employees, and lead to new, exciting, and profitable partnerships.
These are just some of the advantages that make alumni vital to the success of their alma mater or previous employer. However, establishing strong alumni networks, and engaging alumni, is also beneficial for the alumni themselves.
Communicating, networking, collaborating, and socializing with other alumni and maintaining ties to their common institutions, offers the following benefits:
Building strong communities
Higher education institutions and business enterprises with thriving alumni networks enjoy a stronger sense of community. This is keenly felt by the alumni, too. It gives them more reason to remain connected to the academic or corporate community through social networking and community events.
Enhancing reputation and influence
The networking that alumni networks offer can lead to significant new partnerships. As a result, both the alumni and the institutional or organizational bodies that unite them may experience enhanced reputations and greater influence in current affairs.
Facilitating lifelong learning and growth
Alumni networks promote and facilitate a culture of lifelong learning and growth. Through mentoring new students or team members, or lending support to new projects, everyone involved keeps learning and evolving. This encourages more creativity and sparks new ideas and innovations.
Make the most of your alumni with Aluminate
Regardless of your academic field or business sector, your alumni are essential to your success. They can help you build the college or university community you always envisioned, or the corporate community you have always aspired to. In turn, they will experience camaraderie and connection.
But to make the most of your alumni, you need a strong alumni network. One that is well-maintained, and keeps alumni engaged. And Aluminati can help.
Our Aluminate for Education alumni engagement software is completely customizable, for engaging students, teaching staff, and alumni, your way. Our Aluminate for Enterprise alumni management platform is also totally customizable, for managing corporate employee and alumni programs that work for you.
To learn how to make the most of your alumni, request a demo today.
