As budgeting season approaches, it's crucial to ensure your organization's financial plans align with your goals. At Dynamic Benchmarking, we work closely with industry associations to help meet budget objectives through our technology and services. Here are four steps, based on guidance from Harvard Business School, to consider for your 2025 budget:
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Non-Dues Revenue, Membership Growth, and Advocacy serve as the most important priorities for associations in January and February of 2023.
This month we released the results from our January-February top initiatives survey. It’s enlightening to see what association leaders have been focused on in the first two months of 2023. Some themes have continued from 2022, but others seem to be gaining traction. We will talk more about those results later, but first let’s discuss what associations can do to move the needle on the top trends.
Data Helps Associations Navigate Pay Transparency Laws and Drive Member Value
Pay Transparency laws are making waves in states across the U.S. with 8 states already having measures in place. In California, as of January 1, any employer with 15 or more employees must “include the pay scale for a position in any job posting. In addition, the pay scale must also be given to any third party that the employer engages to announce, post, or publish a job posting. The third-party is required to include the pay scale in its announcement, posting, or publication of the job posting.” Additional states, including South Carolina, currently have draft legislation in place.
- You are one of 9 people sitting in a bar. Elon Musk suddenly walks in and now the average wealth of the group in the bar, including you, is 200 Million.-
If you are like many associations, you survey your members multiple times a year on a variety of topics. Those surveys are usually conducted with an off-the-shelf product and then your staff spends time on the backend configuring the results and creating reports to release the findings. These surveys may be conducted anonymously or in the case of benchmarking studies, non-anonymous. But let’s get back to the question at hand,
What happens with your data once your survey is completed?
In the past 6 months Amanda Kaiser with Kaiser Insights and the DB team have been asked numerous times to BRING BACK the New Member Engagement Study. Many of you are wondering how engaging new members has changed over the past few years and what others are doing successfully in this ever-changing landscape. Are there new techniques that other organizations have implemented that’s working? Do you feel like there is something missing from your new member engagement plan?
Only 12% of Association Partners Prefer Virtual Conference Sponsorships
Question: What is worse than not having a DEI Strategy?
Answer: Having a DEI Strategy that does not involve your team.
The data is in, and study after study has shown that businesses who understand the DEI journey and have demonstrated meaningful results are more profitable and have a much better work culture.