Studies show that nearly 100% of fortune 500 companies have some form of an alumni program. This shows that it is not as much about what you know, but more about who you know. There are several benefits to alumni networks, often formed between colleges and corporations. In addition, investing in lifelong relationships when entering the workforce can lead to measurable benefits. For example, 2.8x increase in revenue per employee, and a shocking 6x increase in employer attractiveness.
Institutions like Penn State, Princeton University, and Harvard University are among those with the most notable alumni networks in the United States. Companies like Google, Coca Cola, and Microsoft are often ones to connect with students from these institutions, having first access to the labor pool. Alumni networks can benefit not only the employee but the business as well. In fact, Businesses that actively engage with alumni see up to a 44% increase in net new business. In addition, investors are more likely to invest in startups created by a founder from their alma mater.
Colleges and corporations are constantly refining their strategies in order to maintain a strong and engaged alumni network. Alumnus and potential future employees are encouraged to keep an eye out for opportunities and ways to give back. This university and corporate connection is only as strong as the effort put into it, and those who participate will ultimately reap the rewards.
Infographic provided by: AcademicInfluence.com