Volume 4, No. 1

Q: I am the marketing director at a mid-sized accounting firm. My firm is thinking of starting an alumni program. As the firm's marketing director, do I have a responsibility in this venture?

A: Your interest in this program demonstrates how the role of marketing professionals is expanding in today's firms. In the struggle to attract and retain high-quality staff, alumni programs are an excellent idea for any size firm. Marketing professionals can be very helpful in the development of such a program because of their experience and communication skills.

Alumni Programs Have Tangible and Intangible Benefits
There are some obvious advantages for your firm in an alumni program:

Recruiting. Keeping in touch with former employees creates a potential pool of professionals for re-hiring. Staff members leave for many reasons, and often, they find they would like to return. If you have stayed in contact and maintained a good relationship with your firm's alumni, they should feel comfortable approaching you to discuss returning to the firm. This concept is validated by an E&Y survey that says, on average, 25 percent of the firm's experienced hires are re-hires! Even if that does not happen, they are more likely to speak highly of you to their peers and refer your firm as a firm of choice to other CPAs.

Emotional attachment. There are intangible advantages to hosting a formal alumni group. Helping alumni keep in touch with each other by providing a forum for sharing ideas and experiences enhances their loyalty to you.

Referrals. While alumni may enjoy remaining connected to the firm and to their former colleagues and friends, they may also occasionally be in a position to refer business to your firm. There are now many engagements that a CPA firm is precluded from performing for their clients. Even if an alumnus is working at a competing firm, under these circumstances, they are forced to seek out other accounting firms for projects. When that opportunity arises, most would prefer to send the work to a firm where they have already established meaningful relationships.

Brainstorming. Alumni are also able to bring new ideas to your firm. Those who remain connected to your firm can provide a fresh supply of observations regarding processes and industry trends that you may otherwise be unaware of. This steady flow of ideas is a benefit with limitless potential.

Your culture and your reputation. One advantage of an alumni program, which may not be immediately obvious, is the pride it builds among existing employees. As staff observes the way alumni feel about the firm, it makes current employees feel more pride as well. It also builds the firm's reputation for excellence when it can identify with the continued progress of previous employees. Much like a university that boasts of the success of its graduates, your firm can point out that the training and experience you offer your employees forms a foundation for them that they can build on throughout their careers, no matter what path they select.

By forming an alumni group, your firm is making a statement about your attitude toward staff because, even after they have left the firm, you recognize that people are your greatest asset.

Getting Started
Starting an alumni network is a major project. You must set the goals by determining what the firm hopes to accomplish with the program, what the budget will be, and who will be accountable for the success of the program. Also, by visiting the Web sites of other firms, both locally and nationally, you will be able to see what other firms are doing in this area. You may consider adding a page to your Web site where alumni can register, chat and access resources. You may publish an alumni e-newsletter, host a blog or even plan occasional social events. If you start modestly, you can always increase the level of sophistication of the program as it evolves. The "Big Four" and other large national and regional firms have used alumni programs to extend their reach, increase loyalty and build their reputation for excellence around the world. You, too, can establish your firm as one with its finger on the pulse of the industry, a cutting edge approach and faithful alumni.