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SHRM CMP Panel Discussion January 28, 2014 Webinar

SHRM CMP Panel Discussion January 28, 2014 Webinar. Phyllis Shurn-Hannah, SPHR – SHRM NE Region FSD Crystal Adair – SHRM SE Regional Administrator. 2014 CMP Webinars. All webinars start at 3:00 p.m. (ET) April 24th August 26th December 11 th Send Webinar topics to Phyllis.

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SHRM CMP Panel Discussion January 28, 2014 Webinar

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  1. SHRM CMP Panel Discussion January 28, 2014 Webinar Phyllis Shurn-Hannah, SPHR – SHRM NE Region FSD Crystal Adair – SHRM SE Regional Administrator

  2. 2014 CMP Webinars All webinars start at 3:00 p.m. (ET) April 24th August 26th December 11th Send Webinar topics to Phyllis

  3. From a President’s Perspective; Expectations of a CMP Gloria Sinclair Miller, GPHR, SPHR President, Philadelphia Regional Chapter HR Director, Bristol-Myers Squibb

  4. Setting the expectations The importance of building relationship with your CMP Orientation and Check in Meetings with President Understand the Board Expectations & Responsibilities Analyze activities that should be handled by the Board vs. CMP Recognize expectations will evolve as the chapter grows

  5. Setting the expectations In the Beginning – It’s tactical . .. Key responsibilities include SHRM national and state connection, membership, programming, sponsorship, communications. After a few years It evolves to be more strategic. Key responsibilities include building relationship in the regions, succession planning. The evolution of the relationship

  6. Setting the expectations What I expect The face The fixer The negotiator The communicator The trusted advisor A true partnership

  7. ART SMITH Executive Director Middle Tennessee Society for Human Resource Management

  8. Importance of Fundraising/Sponsorships Where the money comes from • Membership dues • Event ticket sales • Sponsorships Where the money goes • Core member services • Special events • Overhead

  9. Importance of Fundraising/Sponsorships

  10. Sponsorship Sources Law Firms Benefits/Insurance Providers Banks & Credit Unions Fundraising Opportunities Advertising Conferences, Seminars, Webinars Golf Scrambles, etc.

  11. Demographics Professional Level 64% identify themselves as members of their management team 32% are generalist and specialists 4% other Company Size - no. of employees 24% over 5,000 18% 1,000 – 4,999 43% 100 – 999 15% – under 100 Years in Profession 59% over 10 years 23% 6 – 10 years 18% 1 – 5 years

  12. Top 3 Reasons for Membership 55% - Professional development 34% - Networking opportunities 16% - Professional Affiliation

  13. Typical Sponsorship Package Basic Law Firm Partnership Program Present at two (2) satellite chapter meetings* $ 950 Conduct two (2) Live Webinars $ 1,000 Hold two (2) Legal Education Workshops $ 1,000 Ad in the weekly “Coming Soon” Eblast $ 350 Total Value$ 3,300 Total Investment$ 2,500* *Represents nearly 25% discount!)

  14. Succession Planning for the Board Term lengths of office Agreed-to commitment on the front end by chair and their employer (if practical) Use of co-chairs & vice-chairs for bench strength Setting clear goals and expectations Report back and accountability to the Board on a scheduled basis

  15. Elizabeth Lamping Executive Director Pittsburgh Human Resource

  16. Membership Metrics Important Questions When Developing a Campaign for Retaining and Enrolling Members Does your Chapter Know? The economic benefit if a member renews for 10 consecutive years? The cost of recruiting a new member and how much are you willing to spend? The average length of membership in your association?

  17. Cost and Profit of Membership Formulas necessary for determining the “Cost of Membership” in your Chapter: Retention Formula Loss Formula Turnover Formula Cost of Servicing a Member Lifetime Value of a Member Lifetime Dues Income Formula Lifetime Non-Dues Income Formula Cost of Enrolling Members

  18. Retention Formula Retention: How many members are you likely to retain each year? (# of members at the end of the year (1076) - # of non renewals (306) at the end of the current year / # of members at the end of the previous year (1090)) x 100) (1076 – 306) / 1090) x 100 = 71% retention

  19. Loss Formula Loss: The adverse of retention: How many members are likely to not renew this year? (# of non renewals / eligible renewals) x 100   (306 / 1076) x 100 = 28.5% loss

  20. Turnover Formula Turnover: This is a key to the formula for determining lifetime value. The turnover rate calculates your chapter’s life expectancy if no new members were to join. (100/ loss rate) (100 / 28.5) = 3.5 years

  21. Cost of Servicing a Member Cost of Serving Members: An overly simplified formula to determine the cost per member is to divide the number of members by the total expenses. (Expense / # of Members) = Cost of Members ($410,000 / 1076) = $381.00 For example, in an association with $410,000 in expenses per year, and a membership of 1,076 members, the cost to service a member is $381.

  22. Lifetime Value of a Member Lifetime Dues Income Formula : (Dues Income Value of a New Member x Turnover Rate) For example, $150.00 annual dues x 3.5 year’s results in a $525.00 in expected dues income from one new member.

  23. Lifetime Value of a Member Lifetime Non-Dues Income Formula : (Non Dues Income Line Items / Total Members) For example, in an association with $410,000 income, let's say $287,000 is generated from non-dues. Thus, divide 1,076 members by $287,000 and you determine the non-dues income value per member of $266.00 per member. Multiply this x 3.5 years (turnover rate) and you generalize that the non-dues lifetime value of a member is $933.00.

  24. Lifetime Value of a Member Add the lifetime dues income to the lifetime non-dues income (i.e. $525 + $933 = $1,458.00) which will be anticipated revenue over the 3.5 year expectancy of the member's renewals. Thus, for every new member, approximately $1,458.00 will be received over the lifetime of his or her participation in the chapter. If you can keep the member longer than 3.5 years, you've improved the value of the member.

  25. Cost of Enrolling Members Enrollment Cost: (Lifetime Value minus (Avg. Cost Serving a Member x Turnover Rate) ) Thus, in our example, the lifetime value of a member is $1,458.00. It should be subtracted from the cost of serving a member over the 3.5 year period of membership ($381 x 3.5 = $1,333.50) to determine the "profit" for enrolling the member. In this case, enrolling a new member who is likely to remain in the chapter for 3.5 years, the profit is $124.50.

  26. CMP’S Role in the Selection and Recruitment Process Inform your Board of Directors and Membership Committee volunteers of your Membership Metrics Understand what your Member Value Proposition looks like Volunteers are the face of the organization and should be actively recruiting new members CMP’s should be keeping current members informed of their membership benefits and retaining the members

  27. Volunteer Leader Resource Center Why recreate the wheel - SHRM knows what works! This site was created to assist volunteers and CMP’s with their daily responsibilities. On this site you will find: Recruitment and Retention Toolkits Membership Survey Samples Sample Marketing Letters for Recruiting New Members and At-Large Members Sample scripts for voice messages

  28. Volunteer Selection Process Volunteers are an essential element in supporting your chapter’s mission. Volunteer criteria should be created to clearly articulate the roles and responsibilities expected from all volunteers. This will also help to determine how to best use the knowledge skills and abilities of the volunteers to obtain our strategic business goals. The primary characteristic of volunteerism “selfless service” makes it very difficult to remove those that may be poor performers. To ensure you have a team of dedicated volunteers working towards the associations strategic business goals a volunteer letter of intent is recommended. Volunteer selection resources can be found at www.greatboards.org

  29. Volunteer Selection Process Sample of actions to be included on a Volunteer Letter of Intent: I will interpret (Chapter Name) work and values to the community, represent the Association, and act as an ambassador for the (Chapter Name), I will abide by the Association’s by-laws and conduct myself in a manner which is in the Association’s best interest. I will attend at least 75% of committee meetings and special events and will actively support the Association through regular attendance at Association functions. I will not use my position with the Association for my own financial benefit where such action is detrimental to the Association. I will work in good faith with staff and other board members as partners towards achievement of the Association’s goals. If I do not fulfill these commitments to the Association, I will expect the PHRA President/Committee Chair to call me and discuss my responsibilities.

  30. QUESTIONS Phyllis Shurn-Hannah Crystal Adair SHRM NE Region FSD Southeast Regional Administrator 800/283-7476 ext. 6293 800/283-7476 ext. 6370 phannah@shrm.orgcrystal.adair@shrm.org

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