In the just-released Association Economic Outlook Report, over 500 association executives shared how the pandemic and the recession have impacted their organizations.
They reported substantial disruptions.
· 78% canceled or postponed their in-person
events this year
· 39% see their membership as going down by the
end of the year
· 20% cut the salaries or hours of their
employees
· 18% reported layoffs with no intention to
bring back those staff members
Nevertheless, associations have responded
forcefully to address these circumstances.
Most notably, the present challenges have decreased the impediments to change and innovation experienced by associations. A year ago, in the 2019 Economic Outlook Report, respondents said that some of the barriers to change were institutional resistance to risk and the slow pace of board and senior executive decision making. As this chart highlights this year’s data shows that some of those impediments have substantially declined.
In response to the current challenges, associations are making adjustments.
· 84% have increased their virtual professional
development opportunities
· 78% have developed new products and services
to assist members and member companies
· 77% of those that canceled their in-person
events replaced it with a virtual event
· 72% have reevaluated and streamline internal
processes
As associations deliver essential
services to members, they see the impact. Fully 69% say that member engagement has
increased during this year. For those willing to provide critical information,
networking, and community to members during hard times, the results can be increased
loyalty and organizational resilience. The message is, do not waste the
opportunity for innovation and change that challenging times bring.
You can download the full EconomicOutlook Report here.
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