How can a reconnection today transform your tomorrow?

A trusted alumni network can keep you ahead of talent pressures by gaining recruitment and career support from likeminded professionals.

Alumni members can also serve as brand ambassadors for the companies they worked at, providing a wealth of referrals. The EY 2021 Global Alumni Survey revealed that 84% would refer a colleague, 70% would recommend the EY organization as a place to work and 31% would consider returning themselves.

Benefits of return hires

There is a significant advantage to welcoming back talent who have left your company but remained in touch through an alumni program or personal contacts.

Trent Henry, EY Global Vice Chair of Talent, says “our alumni understand our business, our clients and company values. Each year, around 15% of our external hires are from our alumni community.” Having been tried and tested, they can bring not only their past experience, but new skills and perspectives.

There are huge cost efficiencies to be considered when recruiting alumni: an expedited hiring process, time saved on onboarding and training, as well as greater potential for the employee to get up to speed quickly and be effective in the role. They could even end up running the company, like Mark Weinberger, Former EY Global Chairman and CEO. Mark left the EY organization three times in his career before eventually coming back to head up the business, retiring in 2019. 

The benefits go both ways. Tom Lardner, an alumnus from EY New York, left the firm in 1997 and while his focus shifted, his ties to the organization remained. He recalls, "I went to an alumni event and one of the EY attendees that evening was a personal mentor. That reconnection led to follow-up conversations about my current career, future ambitions and possible opportunities, and ultimately resulted in my return to EY." After changing careers during his time away from EY, Tom had the opportunity to re-join within a brand-new business unit, and to grow right along with it. Twenty-one years later and counting, Tom is still gaining new experiences. "The chance to play a role in helping to drive business growth in an environment built on trust has been a gift, one that is foundational to my career."

Career growth

The pandemic has caused people to reassess their career goals as well as their work-life balance. An alumni network provides a rich source of contacts, support and mentorship that can help people navigate these changes. There are over one million members in the EY alumni network, many of whom say they are happy for other alumni to reach out to them for advice, introductions and support in their careers.

Alumnus Cameron Fleming left the EY organization to start his own medical supply business. He remembers how the Partners encouraged him to take the leap into entrepreneurship, and still mentor him now: “They're just so supportive. They still to this day will try to introduce me to people or have suggestions.” The network is also an important knowledge pool, where members can exchange information and experiences, keep on top of industry trends and improve their skillsets.

For alumnus Debra von Sturch, retiring after 38 years at EY was not the end of her career development. She wanted to continue to use her skills and have “intellectual stimulation and people engagement.” As a result, Debra joined three boards and loves keeping her finger on the pulse of what is happening in the industry and knowing who to contact if she has a question. She recently went to an alumnus partner dinner and said “it was a joy to see other retired Partners and exchange ideas on what we were doing.” Attending the EY Strategic Growth Forum also enabled her to “see her old ecosystem” and keep those relationships alive.

Conclusion

“As businesses around the world reimagine their workforces, sustaining a strong, connected community of prior, current and prospective employees should be at the forefront of the talent agenda” states EY EMEIA Workforce Advisory Leader Michael Thompson. “As we deliver on our promise of an exceptional employee experience for EY, we also help our clients to remain distinctive through their employee value propositions. Putting people at the center of your strategy will transform your results.”  

Active networking is a vital component of career development, as well as a source of support in dealing with the challenges of the Great Resignation. Whatever your current challenge, whether it is seeking advice on a new job opportunity, needing an introduction, finding the perfect person for a new role, or simply building relationships with people you value, reconnecting with someone from a trusted network could take you somewhere special.