Are you considering launching an alumni network? Whether building it from scratch or revamping an existing one, you need a sound strategy and the right tools. But to create that strategy and put those tools to work, you must first ask yourself some targeted questions.
Your answers will help you formulate a robust and future-proof alumni program strategy. If you want to know what those all-important questions are, keep reading. We’ve compiled a guide to the eight questions every company should answer when launching an alumni network.
What is a corporate alumni network?
A corporate alumni network is a group of former employees and colleagues that stay connected to one another and their former employer. A corporate alumni program is a community specifically created for engaging corporate alumni and maintaining communication and interaction with them.
The benefits of having a corporate alumni program
Corporate alumni programs offer benefits such as:
- A boost to your employer brand and public reputation.
- Higher levels of engagement with both former and current employees.
- Potential new client referrals, business partnership opportunities, and more through networking.
- Recruitment savings from hiring boomerang employees.
8 Questions every company should answer when launching an alumni network
These are the eight questions you need to answer before launching an alumni network for your company.
1. What are we looking to achieve as a company?
Before launching an alumni network, ask yourself what you hope to achieve with this network.
Perhaps you’re a large corporation actively involved in succession planning, and considering returning employees for these posts. You may be a small law firm looking for more client referrals. Or you could be a small- to medium-sized business hoping for more business partnership opportunities.
Decide on clear, SMART goals (specific, measurable, achievable, relevant, time-bound).
2. What do we expect from our alumni?
What are you expecting from your corporate alumni network’s potential members?
Once you’ve determined what you’re hoping to achieve, you can think about your expectations of your alumni. They can offer their former employers many benefits such as client referrals, new business opportunities through networking, talent acquisition, and more.
3. What are we offering them in return?
What can you offer your alumni community to keep them engaged and encourage them to remain active in the program?
The most successful corporate alumni programs offer alumni value in return for participation, such as exclusive events, perks, and even discounted products or services. Alumni often have busy schedules and thus can’t make it to every event. That’s why it’s a good idea to include virtual events.
4. Which internal and external stakeholders should we include?
Ask yourself who should be involved with this alumni network.
Corporate alumni networks are not always limited to former colleagues and employees. They sometimes include both current and former employees and colleagues. Include external stakeholders for a regional alumni network or large corporate community.
5. What is the size and structure of our team?
How large a team do you need for your alumni program and how will their roles be assigned?
An alumni program needs a basic structure, with specific roles for members and a leadership team, just
like your business. The exact details hinge on the size and scope of your program.
6. What is our budget?
What will setting up and maintaining an alumni association cost your business?
Be realistic about your budget. Launching an alumni network doesn’t have to break the bank, but there will always be a cost involved. The launch event may prove to be more expensive than the day-to-day maintenance.
7. What resources do we need to implement the program?
Depending on what you have in mind for your alumni program you’ll need certain resources. Do you have what you need?
An effective alumni program can also bring in money down the line, both directly and indirectly. You could also save money by recruiting boomerang employees from your alumni community. Indeed, there are distinct financial benefits to rehiring alumni. But you need the right tools.
So, once you’ve answered the previous questions, you must find a platform to tie everything together. One that enables seamless communication within your corporate community and encourages collaboration, even among alumni separated by great geographical distances.
Aluminate for Enterprise is the ideal choice. It’s the world’s most customizable corporate employee and alumni management platform. Highly dynamic, user-friendly, and scalable, Alumniate for Enterprise is the perfect foundation for building a thriving corporate alumni community online.
8. How are we going to measure the program’s results?
There is one more important question you must answer before you can launch your corporate alumni network.
Launching an alumni network is just the beginning. To ensure its longevity and success, you also need to monitor alumni relations and track the program’s results. How do you intend to do this?
If you’ve chosen the right alumni management software, it will facilitate and encourage alumni association networking and provide valuable data analytics.
Aluminate for Enterprise gives you the power to make better decisions for your alumni network, with the Insights feature. You’ll know, at a glance, what your alumni are getting the most value from. You can also leverage these alumni data insights to track alumni engagement and plan for the future.
Launch your winning alumni network with Aluminate for Enterprise
Launching an alumni network takes meticulous planning and a good dose of realism. This is crucial for building an alumni network and program that helps you meet your business goals. But to make your alumni program truly functional you need the right platform.
Any company can launch a winning alumni network with Aluminate for Enterprise. This highly customizable online community platform is ideal for all alumni networks, no matter the sector or industry, and regardless of size.
Integrate it with your internal HR systems, support talent acquisition, or even as an enterprise social media platform. Request your free demo today.
