Each year a list of employers are released, communicating the top places to work in Canada or the top companies to work for in the United States. These companies have more in common than being on that list, they share an assortment of business practices helping them generate their ranking. Everywhere companies are instilling practices to make them more appealing and increase their employee retention rate. Much like the goals of different companies, associations share these interests and needs of developing a healthy renewal rate, and a strong member, ‘employee’ or ‘customer’ base.
So what are these effective business practices that associations today should be adopting?
- Encourage Curiosity to Further Engage
Engage members .jpgGrowing businesses in a digital age, there are endless resources and answers for any given question or topic. Businesses encourage questions, encourage thinking outside the box in, engaging individuals as each new thought is being generated and later shared. Provide members with resources for sharing and collaboration to build a stronger relationship with you, with members and with the association.
Listen to members .jpgBusinesses providing an open ear to employees demonstrates sympathy and encourages an open door policy. This is a practice that every association, organization, chamber, and BIA would benefit from. Listening to issues and thoughts will build a stronger relationship and a stronger association.
Provide resources and opportunities .jpgBusinesses that make the list for “top employers” have one major thing in common: inside opportunities. Hiring internally is proven to decrease churn, not insisting that you begin hiring members, or moving them up on the totem pole, but more importantly provide them with opportunities. You have the power to provide your members with opportunities and give them a greater value in being a part of the association, through networking events, job boards, workspace collaboration discussions and more!
- More cost effective to retain
Renew don’t recruit .jpgAdvertising costs are expensive, whether you’re a business or an association, promoting is costly. Many businesses offer incentives to their current loyal customers, “pay early and receive a discount!” Why not give your members this same type of incentive? “Renew early for 20% off.” Acknowledging them and demonstrating you value them as a member will help build trust and confidence in your association.
- Bundle Bonus
Resources for members leadership.jpgMaking a deal is not only in the business world, associations can have their share too. If you’re a professional association offering continuing education, why not create a bundle package of supplies, courses, textbooks and video tutorials that members need to succeed.
Implement and guarantee a healthy renewal rate and display a strong recognition to those individuals thinking about joining an association. Embrace these practices that help businesses excel with both their employees and customers.