Gone, but Not Forgotten
From an article in Fast Company:
No company likes to dismiss its talented employees because of a rotten economy. But there's a way to keep people working with you even after they stop working for you. Here is a five-point program on how to build a successful alumni network for your company.
Some ideas just keep coming back. A case in point: corporate alumni networks. A few years ago, Fast Company published an article on how to use alumni networks to stay connected to former employees (Hire Today, Gone Tomorrow? August 1998). The argument: Talented people have so many opportunities that you can't keep them forever. But even if they stop working for you, they can work with you.
Companies continue to say good-bye to star performers -- only now, parting ways stems from the pain of recession rather than the lure of startups. And what's the new tool in this boom-gone-bust environment? Alumni networks.
"The goal is not to retain employees," says Cindy Lewiton Jackson, director of global career development and alumni relations for Bain & Co., a pioneer of the concept. "The goal is to build lifelong affiliation." Katie Weiser, global director of alumni relations at Deloitte Consulting, adds, "Our people will be movers and shakers wherever they land next. We're planting seeds for the future."
The alumni phenomenon is sweeping all kinds of organizations -- and for good reasons. First, once the economy bounces back, alumni may want to return to the company. Second, one way to maintain a good reputation in tough times is to cultivate positive alumni relationships.