PKF Texas – Entrepreneur’s Playbook®:Build an Alumni Network

by | Feb 26, 2010 | PKF Texas - The Entrepreneur's Playbook®

Note: Running Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website. 

How do you keep in touch with your former employees, or “alumni”?

Corporate alumni groups are becoming increasingly important as the Baby Boomers retire and the Millennials job hop every two to three years. 

There are many benefits to a company establishing a formal alumni group.  They include:

• Extending your recruitment network.  Just because an employee left your firm doesn’t mean they don’t know someone who would be a perfect fit for the company.
• Business development and quality referrals. Alumni who feel connected to your firm are likely to be some of your most vocal advocates in the marketplace.
• Extending your network into other industries.

There are several factors that you should take into account to ensure the success of your group:

• Enlist top-level support for the program
• Establish clear goals and objectives for the group to manage expectations both from the company side and the alumni side
• Be sure current employees are familiar with the program.  They can promote it to their former colleagues.

Most often, the alumni are meeting on their own, why wouldn’t you want to be a part of the conversation?

For more on this topic, please read L.M. Sixel’s article in the Feb. 3 issue of the Houston Chronicle.

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