Association CEO Index 2024 - Flipbook - Page 56
Association CEO Index 2024
56
The challenges
1. Economic and market conditions
Economic and market conditions are seen as significant challenges for associations. Respondents
highlighted the impact of economic instability, market volatility, and sector-specific downturns on their
operations. These conditions are affecting everything from revenue generation to member retention and
engagement. Leaders are concerned about how these external factors will influence their ability to
deliver on strategic priorities and maintain financial stability.
"The volatility of our economic and social landscape." (Industry Association CEO, Female 50-59)
"Tough economic climate." (Industry Association CEO, Female 40-49)
“Negative economic climate impacting member choices to either renew or join the association.”
(Hybrid Association CEO, Male 40-49)
2. Staffing and resource management
Resource management and staffing challenges are prominent concerns for association leaders.
Respondents mentioned difficulties in attracting and retaining skilled staff, managing workloads with
limited resources, and ensuring that their teams are adequately supported to meet organisational goals.
Others emphasised the importance of ensuring a smooth transition as current leaders retire or move on,
and the need to identify and develop the next generation of leadership.
"Finding new staff to service an expanding membership." (Industry Association CEO)
"We need more staff; we have grown, and the staffing has not kept up." (Professional Association CEO)
"Succession planning for key leadership roles." (Industry Association CEO)
3. Funding, revenue diversification and financial sustainability
Funding and financial sustainability are top concerns for many association leaders. Many respondents
are focused on ensuring that their organisation has the necessary resources to maintain operations,
deliver services, and achieve strategic goals. This challenge is compounded by the economic
environment, which has made it difficult to generate new revenue streams and maintain existing ones.
"Developing revenue streams to support strategic initiatives." (Hybrid Association CEO)
“Generating revenue in a tough economic environment when association spend could be seen as
discretionary." (Professional Association CEO)
"New revenue generation including diversification of revenue." (Hybrid Association CEO)
4. Member services and engagement
Maintaining and enhancing member engagement is a challenge for many associations. Respondents
expressed concerns about keeping members engaged and ensuring that the services provided meet
their needs. This is particularly challenging in an environment where economic pressures may reduce
members' ability to participate or pay dues. Associations are focused on delivering value and retaining
members, while also looking for ways to attract new members by enhancing their service offerings.
"New member attraction and member retention." (Professional Association CEO)
"Retaining members as the economy in Victoria tanks." (Industry Association CEO)
"Engagement on paid CPD and other events due to cost-of-living increases." (Professional
Association CEO)
Q. What do you think will be your major challenges in managing your association over the next 12 months?
