New IMC Business Membership Tiers Foster Inclusivity and Collaboration
The IMC has overhauled its corporate membership structure and introduced new Business membership tiers. The IM Yearbook sat down with Jacqueline Gauci, Head of Membership Services at the IMC, to discuss the changes.
Can you explain the rationale behind introducing new IMC membership tiers? What were the key factors and insights that led to this decision?
The decision to introduce new IMC membership tiers was driven by a combination of key factors and insights that we gathered through a thorough evaluation process. As the IMC approaches its 10th anniversary in 2024, our membership has grown significantly, now boasting over 450 members hailing from 60 different countries. This remarkable growth has brought about a considerable increase in diversity within our membership, marking a notable evolution since the inception of our project, which initially started with only a handful of members.
To provide context, our organisation underwent a successful review of our individual membership tiers in 2019, but it became increasingly apparent that our business membership programme required a similar assessment. Many of our individual members expressed a strong interest in transitioning to business membership status; however, they often found that the existing membership tiers and associated benefits were primarily tailored to larger organisations.
The rationale behind introducing new IMC membership tiers is grounded in our commitment to inclusivity and providing value to all members, regardless of their organisational size or structure. Our goal is to ensure that our business membership programme aligns with the diverse needs and aspirations of our members. By doing so, we are not only adapting to the changing dynamics of our membership but also enhancing the overall experience and relevance of the IMC as we move into our milestone 10th year.
What specific research, meetings and feedback from members and stakeholders played a crucial role in shaping the new membership structure? Can you highlight some key takeaways from this process?
Our approach was multifaceted. First, we embarked on a comprehensive research initiative. This involved benchmarking our membership tiers against other similar professional bodies to understand best practices. Next, we conducted a series of face-to-face interviews, hosted roundtable events, and employed various feedback mechanisms to ensure we understand our members’ needs and expectations.
Lastly, our team has many years of experience in managing a professional association and our prominent position within the IM sector provided us with a strong foundation for this undertaking. It allowed us to combine our historical knowledge with contemporary insights, resulting in a membership structure that addresses both current and future industry demands.
A significant revelation during this process was the need for inclusivity. As mentioned, many stakeholders emphasised the importance of offering alternative pathways for smaller regional companies to access the benefits of IMC membership. This feedback resonated deeply with us, as we recognised the value of enabling organisations of all sizes to invest in their teams, nurture their talent, and cultivate a more resilient and trustworthy global network.
We are proud to have transformed our membership offerings to better align with the evolving needs of our diverse membership base, ultimately fostering a stronger and more inclusive community within the IM sector.
How do these new membership tiers align with the wider goals of the IMC?
We recognise that the migration field is evolving rapidly, and as such, we are committed to accommodating a wider and more diverse range of firms and their exceptional talent from every corner of the world. By doing so, we reinforce our dedication to becoming a truly international organisation that mirrors the global, diverse nature of our sector.
The IMC is a forward-thinking organisation prepared to navigate the forthcoming decade of transformation within investment migration. We are not merely adapting to change; we are actively driving it, with the aim of strengthening our community, providing valuable resources to members at all stages of their careers, and contributing to the ongoing success of the profession on a global scale.
The new membership structure differentiates firms based on their size, reach and services offered. Do you expect that this segmentation will enhance collaboration and networking among members within each tier?
Indeed, the introduction of our new membership structure is strategically designed to foster and amplify collaboration and networking within each tier.
By grouping firms that share similar characteristics, we create organic opportunities for members to connect with peers who face similar challenges and opportunities. This shared context not only facilitates more meaningful interactions but also encourages the exchange of valuable insights and experiences specific to their tier.
For instance, smaller firms may find common ground in navigating the intricacies of their tier, while larger organisations can explore collaborations that leverage their collective resources and expertise. Similarly, firms with a more global footprints or service portfolios can engage in more targeted discussions, allowing for a deeper exploration of industry trends, challenges, and innovative solutions.
We do believe that our tiered membership structure serves as a catalyst for deeper engagement within these sub-communities, enabling members to build relationships, exchange knowledge and collaborate on projects that directly benefit their specific circumstances.
How did the transition from the old business membership levels to the new gold and platinum tiers affect existing members?
The transition was seamless and hassle-free for our existing members. The membership benefits of the business members remained intact during this transition.
There was no need for existing members to take any action, as the IMC handled all administrative aspects of the transfer. Corporate members became automatically gold tier members, while Corporate plus members seamlessly transitioned to the platinum tier. So, all that existing business members needed to do was to become familiar with the new tier names – gold and platinum – and start using them when referencing their membership level.
Looking at the bigger picture, do you anticipate changes in the types of firms that will become IMC members? Are there expectations of attracting a broader range of organisations, including those operating in the wider migration field?
Yes, we are actively seeking to attract organisations beyond the traditional boundaries of investment migration. The aim is to create a thriving ecosystem where not only experts in investment migration but also professionals from related fields can come together to reap the benefits of IMC membership, such as increased visibility, opportunities for professional growth, access to a talent pool, and the ability to tap into a global network of like-minded professionals. In essence, we are opening our doors wider to make the IMC an essential hub for professionals across the migration spectrum.
New IMC Business Membership Options at a Glance:
Blue
Membership at this level is for firms that generally operate with a domestic footprint offering a minimal of investment migration options to private clients and have around five employees. Benefits include up to four team members to join as full IMC members. Examples of such firms include domestic licensed agents, and small family- owned law firms. Annual Fee: €3,000
Silver
Membership at this level is for firms that generally operate with a domestic or regional footprint offering a minimal of investment migration options to private clients and have around 10 employees. Benefits include up to six team members to join as full IMC members. Examples of such firms include domestic licensed agents, family- owned law firms. Annual Fee: €5,000
Gold
Membership at this level is for firms that operate with a regional or global footprint offering a variety of investment migration options to private clients and / or B-to-B clients with around 25 employees. Benefits include up to 10 team members to join as full IMC members. Examples of such firms include international marketing agents, multi-national law firms, corporate service providers, accountancy firms, family offices, banks, due diligence providers. Annual Fee: €7,000
Platinum
Membership at this level is for firms that operate with a global footprint offering a variety of investment migration options to private clients and / or B-to-B clients and government advisory services with around 50 employees. Benefits include up to 15 team members to join as full IMC members. Examples of such firms include international marketing agents, multi-national law firms, corporate service providers, big 4 accountancy firms, multi-family offices, global banks, global due diligence providers. Annual Fee:€10,000
Titanium
Membership at this level is for firms that operate with a global footprint offering a variety of investment migration options to private clients and / or B-to-B clients and government advisory services with around 200 employees. Benefits include up to 125 team members to join as full IMC members. Examples of such firms include international marketing agents, multi-national law firms, corporate service providers, big 4 accountancy firms, multi-family offices, global banks, global due diligence providers. Annual Fee: €150,000