New Study: Ground-breaking research reveals what corporate alumni want from Alumni Programs and benefits for sponsoring companies
SEATTLE, Sept. 17, 2019 /PRNewswire-PRWeb/ -- According to a new study conducted by Conenza in partnership with researchers from Cornell University's School of Industrial Labor Relations (ILR) School, former employees that participate in Corporate Alumni Programs are more likely to contribute valuable returns to their former employers. "The Business Case for Corporate Alumni Programs: Organizational Returns and Alumni Motivation" reveals alumni that use just one benefit offered as part of a Corporate Alumni Program have an increased likelihood to recommend an organization's products and services or endorse it as a good place to work to friends and colleagues.
"While there is plenty of research available about organizational strategies that enhance relationships with current employees, this is the first time anyone has explored the benefits of engaging employees for life, after they have moved on," said Tony Audino, CEO and founder of Conenza. "We uncovered valuable insights that can help organizations tailor Corporate Alumni Programs to their alumni's needs and in turn realize significant results."
The research reveals four motivations that drive alumni's interest in maintaining lifelong relationships with their former employers:
1. Career-minded – the ability to enhance their careers or businesses
2. Social-focused – the opportunity to reconnect with colleagues
3. Mission-driven – the desire to support the organization's purpose
4. Pragmatic – the interest in benefits, discounts and perks
"By establishing connections with an organization based on their motivations, alumni show an increased willingness to put their stamp of approval on the organization and share their positive opinions with others," said Dr. Rebecca Paluch, assistant professor of the Organizational Behaviour and Human Resources division at the UBC Sauder School of Business and formerly PhD candidate at Cornell's ILR School.
The research revealed that engagement with just one additional alumni benefit, such as an online Corporate Alumni Program portal, alumni newsletter, webinars and in-person events, increased an alumni's likelihood to recommend:
- the company's products and/or services up to 32%
- the company as a place to work up to 29%
- the company's alumni program up to 51%
The research also measured the impact of increased alumni usage of just one benefit on other important interactions with the organization. Alumni reported increases of:
- up to 47% to apply to be rehired
- up to 22% in doing contract or freelance work
- up to 42% in developing new business-to-business relationships
- up to 26% for providing industry information or insight
- up to 40% in being a mentor
"At the end of the day, alumni want to maintain a relationship with their former employers and colleagues. This research provides quantifiable evidence that organizations that cultivate these long-term relationships through official Corporate Alumni Programs will receive tremendous benefits," said Audino.
Download "The Business Case for Corporate Alumni Programs: Organizational Returns and Alumni Motivations" to learn more. https://www.conenza.com/insights/category/research/
About Conenza
Conenza has over twenty years of experience in helping market-leading organizations build and manage Corporate Alumni Programs that create lifelong relationships, cultivate brand advocates, generate revenue opportunities, facilitate rehiring and maintain access to critical knowledge. Conenza's cloud-based Engagement Platform and related services are designed specifically for organizations that want a cost-effective solution combined with a strategic partner to help them design, implement, launch and grow their Corporate Alumni Program. For more information, visit http://www.conenza.com.
About Cornell University's School of Industrial Labor Relations
Dr. Rebecca Paluch's research was funded by the Center for Advanced Human Resource Studies (cahrs.ilr.cornell.edu) and advised by Professor Lisa Nishii at the ILR School at Cornell University where Paluch earned her PhD. The ILR School is the leading college of the applied social sciences focusing on work, employment, and labor policy issues and practices of national and international significance. ILR's mission is to prepare leaders, inform national and international employment and labor policy, and improve working lives. The school offers undergraduate and graduate education as well as career-long learning for professionals. For more information, visit https://www.ilr.cornell.edu.
SOURCE Conenza, Inc.