The BusinessMakers Radio Show

Episode #247: PKF Texas: The Entrepreneur's PlaybookŪ - Alumni Networks

Audio for this transcript available

Greg: This is Greg Price with PKF Texas' Entrepreneur's Playbook.

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:

1. 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.
2. 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.
3. Extending your network into other industries.

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

1. Enlist top-level support for the program
2. Establish clear goals and objectives for the group to manage expectations both from the company side and the alumni side
3. 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?

To read and comment on the PKF Texas' Entrepreneur's Playbook, visit my blog, fromgregshead.com. And be sure to check out the new mobile ready website at PKF Texas.com - PKF Texas, The Fit That's Right!