Corporate Alumni Management Trends in 2024 

In the ever-evolving landscape of corporate alumni management, staying ahead of trends is essential for fostering meaningful connections and driving organizational success. As we step into 2024, let's explore the transformative trends shaping the realm of corporate alumni management, offering insights into how organizations can leverage these trends for a thriving alumni ecosystem. 

Artificial Intelligence & Enhanced Analytics  

HR professionals will be able to deploy a growing range of technologies and tools as they attempt to understand workforce trends and manage behavioral shifts.  

One of the most significant trends in 2024 is the increased integration of artificial intelligence and data analytics. AI and data-driven insights are set to empower alumni program managers to deeply understand alumni behavior, preferences, and engagement, enhancing the impact of corporate alumni programs through personalized interactions, targeted communication, and improved talent matching. 

"The evolving software landscape is reshaping user experiences. To stay ahead, our team explores innovative technologies, envisioning refined content generation, hyper-personalized experiences, predictive analytics, and advanced natural language understanding. These advancements are set to shape the future of corporate alumni management software, elevating user engagement." – Benjamin Elixmann, co-CEO 

Embracing the Gig Economy 

In the changing work landscape, HR professionals face a significant trend—the ascent of the gig economy and blended workforce.  

Companies are increasingly tapping into freelancers, contractors, and gig workers, with alumni also showing openness to short-term contracts or freelance opportunities, addressing business needs. This move towards a more flexible workforce underscores the vital role of corporate alumni programs in nurturing connections and sustaining relationships amid evolving workforce dynamics characterized by a growing dependence on non-traditional employment models. 

Alumni Referral Programs 2.0 

Recognizing the potent influence of former employees, organizations are revamping their referral initiatives. Personalized outreach, innovative incentives, and streamlined processes are making these programs more enticing, turning alumni into active contributors to the talent acquisition process and attracting boomerang employees.  

According to CareerXRoads, alumni referrals are 3-4 times more likely to be hired than non-alumni referrals, making an alumni network a valuable source of referrals. Indeed, former employees possess a deep understanding of your company culture and can accurately assess whether the individual in question is a suitable match. 

“Only a quarter of companies today offer a referral incentive to their former employees, which represents a significant opportunity in the future for more companies to turn their actively engaged members into highly relevant qualified talent leads.  The referral incentive could also be a nonprofit donation instead of a cash gift and be even more impactful.” - Jenn Pedde, VP of Customer Advocacy 

Strategic Engagement Initiatives 

Strategic and continuous engagement, extending beyond occasional interactions, is a prevailing trend. Deepening relationships with alumni through valuable offerings is crucial, fostering goodwill and increasing the likelihood of them returning as employees. Regular updates, exclusive opportunities, a blend of both virtual and in-person events, and targeted communications nurture a sense of belonging, fostering a robust talent pipeline for future hiring needs.  

In our latest 2023 corporate alumni benchmarking report, program managers shared insights into alumni engagement, providing data for a baseline of platform activity. In 2024, we anticipate a consistent level of alumni engagement in logins, events, newsletters, and collaboration, expecting this trend to endure in the evolving corporate alumni industry. With these new metrics, we fully expect a focus on stronger engagement metrics to take place in the new year and illustrate how heightened daily community activity correlates with improved business outcomes. 

“Understanding what makes their communities work enables companies to create value for their alumni. For leadership, the key is connecting alumni engagement to their own objectives. Alumni success is foundational to achieving impact on their own bottom line. To this end, we fully expect to see a focus on data, reporting, and metrics in the coming years.” - Stephan Herrlich, Co-CEO

Streamlining Employee Lifecycles 

Emi Chiba, a principal analyst in Gartner’s human resources practice, shared insights from the previous year's ReimagineHR Conference, discussing how trends in 2023 will impact the trajectory of talent acquisition in 2024. According to Chiba, there were notable efforts to streamline the employee lifecycle through technology, aiming for agile transitions between phases, like onboarding to a new role or offboarding to alumni status, to enhance business outcomes. This evolution spurred increased activity in alumni management and internal talent marketplaces, signalling an emphasis on extending and reimagining the employee lifecycle.  

“We have long believed that lifelong relationships are the foundation for mutual success, and with each year we see this become more central to companies' strategic plans. Alumni programs are moving from a nice to have to a need to have due to the ever-changing demands of the workforce of the future.” - Tony Audino, Co-CEO 

Upskilling and Reskilling  

In the era of workforce transformation driven by artificial intelligence and emerging technologies, upskilling and reskilling take center stage as a primary concern for HR professionals, vital for sustaining adaptability. Corporate alumni networks emerge as a key asset in this transformative landscape, harnessing the wealth of expertise from former employees. These networks actively promote knowledge-sharing and mentorship programs, serving as valuable resources for upskilling endeavors. Particularly in alumni networks where current employees are also welcomed, the impact is amplified, providing unparalleled opportunities for learning and mentorship, ensuring a workforce that remains resilient in the dynamic landscape of evolving AI technologies. 

Navigating Generational Expectations 

Gen Z is poised to overtake the number of baby boomers who hold full-time jobs in 2024, according to a Glassdoor report. As both generations exhibit shorter job tenures, alumni networks become a valuable tool, aiding in maintaining connections and engagement amidst frequent job changes. In a LinkedIn survey in the UK, out of 2,000 employees, 77% of Gen Z said they were thinking about resigning this year. A generation that values more beyond salary, namely, if it aligns with their values or offers them opportunities to train and advance their career.  

Corporate alumni networks will become increasingly vital for HR in 2024, providing a platform for diverse expectations and fostering a culture aligned with the younger workforce's desires. These networks significantly support the career aspirations of Gen Z, aligning with survey results illuminating the desire of 87% seeking skill development. By offering ongoing learning, mentorship, and knowledge-sharing opportunities, alumni programs contribute to continuous training and career progression for Gen Z employees. 

In the dynamic realm of corporate alumni management, organizations embracing these trends are not just adapting but creating a vibrant and flourishing alumni ecosystem. Through nurturing strategic engagement, harnessing AI-driven insights, and embracing innovative talent acquisition approaches, companies can cultivate lasting connections with their alumni.