Today’s workers are more mobile than ever before. The average worker under age 35 will stay at their current company for only 2.7 years, according to the US Bureau of Labor Statistics. For all workers, that trend has gone from 4.1 years in 2022 to 3.9 years in 2024. It’s predicted that workers will continue to jump between jobs, especially as the economy shifts towards a gig economy model. Though this model has benefits, many companies need help retaining reliable talent. However, employee retention might not be the proper focus for these organizations, according to recent research done on employee churn. PeoplePath, the leading provider of corporate alumni management software, offers services that allow businesses to focus on offboarding and the alumni experience. These efforts produce measurable results that can strengthen an organization’s future workforce and corporate culture.
How Companies Can Leverage Offboarding to Boost Alumni Networks
HR trades often neglect to take the employee lifecycle beyond the offboarding process. According to the team at PeoplePath, this is a mistake. Alumni programs can turn former employees into powerful company advocates, even helping to recruit talent across different sectors. Effective alumni engagement can also result in a higher rate of boomerang hires. While most companies hire an average of 8% boomerang hires, focusing on the offboarding process can result in a 20-30% jump in rehires. Boomerang employees also report a 6.1% increase in work satisfaction, a 5.8% increase in commitment to the organization, and 7.6% devote more hours to extra roles than the average employee.
Many businesses today underestimate the strategic value of alumni programs and struggle to invest the attention needed to make them effective. This is where PeoplePath steps in. The company offers advanced alumni management software solutions and services that help companies unlock the full potential of their former employees, driving business growth and improving talent acquisition. With headquarters in Seattle and Munich, PeoplePath provides a platform that empowers corporate alumni programs across all industries and sizes worldwide.
Compared to almost none five years ago, most organizations now offer career transition or outplacement support to their departing employees. The attitude shift is seen in many leading businesses as a way to encourage favorable outcomes from alumni engagement and to develop relationships with potential businesses.
Turning Alumni Programs into Business Assets with the Right Technology
Including alumni throughout the employee lifecycle also supports employer branding. Seyfarth Shaw, LLC, a major law firm, refers to their alumni program as a “People Network.” Starbucks maintains the mantra “Once a Partner, Always a Partner,” meaning that its employees will always be considered part of its network even after they leave.
Some businesses may be tempted to build an alumni solution internally. However, growing technological demands have made this a daunting task. PeoplePath’s alumni management software offers robust features, enabling companies to access strong data management and security, system integrations, and analytical tools. This helps conserve company resources rather than building a platform from the ground up. PeoplePath is poised to lead alumni management software in the coming years with features like their AI-powered “ProfileSync” that streamlines updating profile data for alumni registered in the network.
Business leaders, including CMOs, CHROs, and C-suite executives, should consider exploring PeoplePath’s platform to transform alumni networks into strategic business assets. PeoplePath has published its 11th annual Corporate Alumni Benchmarking Report on corporate alumni programs for those looking to learn more about these programs.
With PeoplePath leading the way, the revolving corporate door can be transformed into a gateway to new opportunities for both employers and employees.
