The alumni network provides access to a new source of labor

Think of how you’re already connecting with alumni
What ways are your former employees finding out about updates, news and job opportunities at your organization? Take inventory of the types of communications and content that is being shared, and build from there. Try not to start from scratch. Some of you are probably doing a lot of this work already. You just might not be doing it in an organized way that’s geared toward targeting your audience with specific communications that go out on a defined cadence.
Assess the effectiveness of the network
Just as you would keep tabs on any program, put a mechanism in place to assess if the network of former employees is growing and is being used effectively.
Are you seeing good engagement? Are you seeing people sharing content? Are you seeing people raise their hand and signaling interest in applying for jobs that you’re making them aware of?
Don’t just assume that flipping a switch and getting content in front of this base of individuals is going to make a difference without oversight or analysis. Think of it as being no different than the acquisition of talent through any other channel.
One of the biggest mistakes HR leaders make is being overly ambitious and thinking that everyone who once worked for the organization will want to opt in. They won’t. So set realistic targets and objectives. Also continue to iterate and become more targeted and focused over time as the alumni network expands).
Coordinate across your HR team
Make sure that talent acquisition (TA) and talent management (TM) are working closely with one another. This is a very unique opportunity for you. At first glance it might seem very TM-oriented because you have employees referring people to the business. But there’s also a TA aspect to it as well, as open requisitions are filled.
TA and TM teams should have a coordinated strategy and approach to determine the degree to which the alumni network is going to contribute to your talent acquisition objectives. If those teams are in sync, then the next time the organization has voluntary resignations, layoffs, or you have to ramp up seasonal hiring, you’ll have a good pulse on some of the staffing changes that are coming. This allows you to also put proactive plans in place to ensure you’re using your network in a way that is in alignment with your talent objectives.
Help AI help you
Every organization should leverage a platform that has employee profiles and candidates’ data about their skills, proficiencies, competencies, experience, and various other factors that go into a hiring decision.
That information can also be cross-referenced with the job description with associated attributes and figure out how good of a match that individual is for the job depending on how tightly aligned they are with the requirements. AI makes it easy to target the right people in your alumni network with the right type of promotional message for roles.
A data-driven approach is key for any alumni network to work. Understand exactly what you’re seeing in the numbers and let them guide your decisions. Make sure you’re diversifying your approach for acquiring talent. AI can help there as well.
I’ve seen too many instances where HR leaders don’t give former employees the attention they deserve. So my final thought would be to look at this group and treat them as potential future contributors to your business. In that regard, make sure you’re valuing their time and putting careful thought into how you’re communicating with them for the intended objective.
The One That Got Away
A common topic of conversation among friends in my fly fishing group is The One that Got Away. Turns out HR professionals lament something similar: The Employee Who Got Away.
Nearly six million people left their jobs either of their own accord or involuntarily in April, according to the most recent federal statistics tracking labor market shifts. While that number is down slightly, that’s still a sizable chunk of the talent pool that’s on the move.
That’s why a new approach and a new mindset is needed. Don’t think of former employees in the past tense. Think of them in the future tense and treat them like you would any pool of valuable talent.
Read more @ https://hrtechcube.com/an-old-source-of-new-labor-is-alumni-networks/
Also read our recent article @ https://hrtechcube.com/reskilling-upskilling-hr-c-suite/