What is a Corporate Diaspora and Why You Need to Nurture It?

July 17, 2024 thehrobserver-hrobserver-corporateworrkers

A diaspora, from the Greek word meaning ‘to scatter,’ refers to a community living outside their country of origin while preserving their cultural heritage. In 2020, an estimated 281 million people lived outside their birthplace, marking a significant increase from previous decades.

In the corporate world, a corporate diaspora refers to employees of a company, especially multinational corporations, spread across various global locations. These employees work in different branches or subsidiaries but maintain ties with their original company. This concept also includes former employees who stay connected with their previous employer, contributing to the company’s network and industry.

“Corporate Diaspora is a concept that is a timely innovation for corporate alumni as it embraces the internal and external power that diasporas can bring for corporations,” explains Dr. Martin Russell, an esteemed researcher in diaspora and Founder of Global Diaspora Insight. 

For example, the corporate diaspora aligns with the importance of corporate alumni by encouraging the organisation to see the people that have come through its doors and left as an ongoing part of their community. 

“Nurturing relationships with their corporate diaspora can bring continued mutual benefit for all involved through the connecting of ideas, networks, and more. This can bring well-established and critical advantages for organizations in terms of business opportunities/referrals, market intelligence, return of talent, and other critical indices of competitiveness and growth,” he adds.

“This external and internal dynamism is just a snapshot of how diaspora engagement will be a difference maker for corporations by unleashing the power of difference for the wellbeing of the organisation through the relationships it can build inside and outside the walls of the organisation,”he explained further.

Multi-cultural team (Stock Image).

Importance of corporate diaspora

It is imperative that corporations need to support their diaspora, community of employees, and alumni to nurture relationships by exchanging expertise, experience, connections, and meeting in person.

“The transition from classic expatriates to a distributed global workforce highlights the need for innovative HR strategies to manage mobility, fostering enduring professional networks within the concept of a corporate diaspora,” Pasquale Gorrasi, the Director International Mobility at Generali Employee Benefits told me in a conversation.

In a recent discussion with Michael Hanssen, CEO of Swiss Life Network, I mentioned how intriguing it was that this year’s Swiss Life Network Conference focused on the theme of community. His response struck me profoundly: “A network is about connecting; a community is about caring.”

Business development benefits significantly from alumni networks through partnerships and collaborations with their new organisations, and by fostering sales and client relationships. These networks also offer market intelligence, giving the company a competitive edge with insights from various industries.

Engagement in corporate social responsibility (CSR) initiatives is strengthened through alumni participation, amplifying the company’s impact on social causes. Current employees’ engagement and loyalty are boosted by the mentorship and career development opportunities provided by the alumni network.

Strategically, alumni can offer valuable advice and governance, contributing to the company’s growth and decision-making processes. 

Lastly, such networks help maintain and spread the company’s culture and organisational memory, ensuring continuity and a strong sense of community. Overall, corporate alumni networks are essential for sustaining long-term success and fostering a resilient, innovative, and connected business environment.

  1. Global Talent and Perspective: Employees across various locations bring diverse skills, experiences, and perspectives, benefiting global operations.
  2. Connections with Former Employees: Ex-employees can still influence and support their former company through their new roles.

Benefits of nurturing corporate diaspora

Nurturing a corporate diaspora enhances mutual growth and fosters a resilient, innovative, and connected business environment. Companies should proactively build and maintain these networks for long-term success.

Engaging alumni in mentorship programs, advisory boards, and collaborative projects leverages their expertise and keeps them connected to the company. Recognizing and celebrating alumni achievements through awards and feature stories in company communications fosters a sense of belonging and appreciation.

Offering exclusive benefits, such as access to company resources, special discounts, and career development opportunities, makes alumni feel valued and engaged. Facilitating knowledge sharing through dedicated platforms allows alumni to contribute insights and participate in discussions, while regularly soliciting feedback helps understand their needs and refine engagement strategies. 

  1. Knowledge Sharing and Innovation: Alumni bring fresh insights and perspectives from their new roles and industries.
  2. Talent Pool: Alumni networks offer a valuable source for rehiring and referrals, reducing recruitment costs.
  3. Brand Ambassadors: Alumni enhance the company’s reputation through positive word-of-mouth.
  4. Business Development: Partnerships with alumni’s new organisations drive growth.
  5. Market Intelligence: Insights from various industries give a competitive edge.
  6. Corporate Social Responsibility (CSR): Alumni involvement amplifies the company’s impact on social causes.
  7. Employee Engagement: Mentorship and career development opportunities from alumni networks boost current employee loyalty.
  8. Strategic Advice and Governance: Alumni provide valuable advice and governance support.

How to nurture corporate diaspora?

To nurture a corporate diaspora, companies should focus on creating and maintaining strong connections with former employees. This can be achieved by developing an online alumni platform where ex-employees can stay connected and network. Regular communication through newsletters, updates, and social media groups ensures alumni remain informed about company news and developments.

  1. Online Platforms: Create an alumni platform for networking and staying connected.
  2. Regular Communication: Use newsletters, updates, and social media to keep alumni informed.
  3. Events: Organise reunions and regional meetups for networking.
  4. Engagement Programmes: Involve alumni in mentorship, advisory boards, and collaborative projects.
  5. Recognition and Benefits: Celebrate alumni achievements and offer exclusive benefits.
  6. Knowledge Sharing: Facilitate discussions and contributions from alumni.
  7. Feedback: Regularly solicit feedback to refine engagement strategies.
Author
Lara Varjabedian

Co-Founder UBQT

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