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Organizations today are more global than ever. They operate in different countries and cultures and understand the value of international diversity. Modern CEOs are global citizens with multi-cultural overseas experience. [1]
Unfortunately, prospect research and development officers often overlook expatriate and international alumni because they are so difficult to track and locate. It is tough to encourage any alumnus to be diligent about self-reporting changes in employment and location to their alma mater, but the task is made even more challenging if the alumnus is living abroad.
Nonetheless, it is important to develop a strategy that will help you identify and locate these alumni because an international assignment can often be an indication of a rising career. Keep a close eye on the alumni and their wealth potential. If you can find them and effectively engage them, they could become important donors.
Expat Alumni & Wealth Potential
Besides very attractive salaries, working abroad offers many other financial benefits.
Generally, expats receive a generous salary as well as an expatriate compensation package. This usually covers their accommodation allowance, relocation costs, health care coverage, an annual trip home and an education allowance for children. If the host country has a lower cost of living than the home country, it is easy for an individual to save a significant amount over a short period of time. [2] A typical overseas posting can also include a “foreign service premium. [3]
Finally, another common scenario for expats is that upon returning to their host country they find considerably more opportunities for promotion because they have acquired the language and culture proficiencies that global companies value. [4]
Global Branding
Besides their potential for wealth and becoming major gift donors, your overseas alumni can also help you build and shape your school’s global brand. Whether it is contributing to international admissions and recruiting efforts, developing corporate partnerships, competing in the rankings or entering new markets – alumni who are based overseas can be one of your school’s best resources. [5]
A global network provides current students with mentors to help them learn about international career opportunities. Alumni wishing to expand their business internationally, seeking a business partner or even just needing help to settle after relocating abroad, want to rely on a trusted network. [5]
Career services offices can also engage international and expat alumni by offering networking events, invitations to prestigious lectures, career development assistance, as well as vouchers for travel and entertainment.
International alumni can assist with your institution’s branding at recruitment events abroad. [6]
So, rather than waiting for these alumni to report back to you, utilize their LinkedIn data to see where they are currently located and update your database with their most recent information. [7]
Sources & Additional Reading
[2] How to Benefit from Expat Status, Internations.org
[3] How Does Your Expat Package Stack Up? BBC.com
[4] Expatriate Benefits: Perks of an Expat Job, Internations.org
[5] The Importance of Engaging Alumni Overseas, FT.com
[6] Engaging Your Alumni in International Student Recruitment, Monitor.icef.com
[7] The Big Three: Facebook, Twitter & LinkedIn, ASMP.org
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