Boomers

Leverage Your Assets: Stem The Tide Of Declining Membership

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January 17 @ 10:22 pm CST

The staff and volunteer leadership of today’s professional associations are faced with two related realities. One, Generation Y is on the cusp of taking over from the Boomers as the most significant cohort in the economy, making them the future of membership. And, two, there has been a slow and steady decline in the membership of many professional associations, with this decline disproportionately concentrated in professionals in the first 10 years of their career. THE PROBLEM The staff and volunteer leadership of today’s professional associations are faced with two related realities. One, Generation Y is on the cusp of taking over from the Boomers as the most significant cohort in the economy, making them the future of membership. And, two, there has been a slow and steady decline in the membership of many professional associations, with this decline disproportionately concentrated in professionals in the first 10 years of their career. As early as 1996, Canadian Economist David Foot warned of the coming rise of (the yet to be monikered) Generation Y in Boom Bust & Echo: How to Profit from the Coming Demographic Shift. What the association industry is now grappling with was an unforeseen rise in technology, job insecurity and shifting values, that has led to that same Echo generation’s failure to take out memberships on mass. Side Note: As Generation Y and the Echo Generation are both defined as those born in and around 1980 or thereafter (although in defining Generation Y there is no definitive text) I intend to use these terms interchangeably, as I am also apt to do in conversation. THE SOLUTION With the constrained resources of many of today’s professional associations, intensified by declining memberships and the resulting decline in that revenue stream, no association can afford to ignore its greatest resources. In the case of the generational shift in memberships, professional associations must leverage their own staff to arrive at and implement a strategy to deal with the coming tide. As with…

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Which Generation Works The Hardest?

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January 17 @ 10:22 pm CST

Last week I spoke at a corporate event where younger generations were getting a tongue-lashing from their Baby Boomer counterparts. The Boomers were scolding Generation Y for needing constant feedback, being unable to prioritize, and wanting to have (gasp!) fun at work. Indeed, there’s a stereotype in many offices that younger employees–especially those born since the mid ’80s–are less responsible and unreliable. It’s history repeating itself. Remember when Generation X entered the workforce? They were labeled as ‘slackers’ because they wanted flex-time. And both the Xers and Ys will gladly sling mud at the Boomers, referring to them as ‘workaholics’ and ‘fuddy-duddies’. There’s more than name-calling at work here. What these negative stereotypes really stem from are differences in productivity. For a generation that followed the Industrial Revolution and was raised to value hard work, the perceived lack of Generation X and Y’s productivity drives the Boomers absolutely nuts. In fact, 68% of Boomers feel “younger people” do not have as strong a work ethic as they do and that makes doing their own work harder. I don’t think the Boomers are doing the lion’s share of the work while Xers slack off and Ys seek pats on the back. Rather, productivity resembles something different for each generation. This blog was written to help organizations better understand why they are challenged with differing generational demographics.  Our studies show that the significant disruptions and societal shifts of the past 20+ years have influenced younger members behaviors. This has affected the reasons why joining and engaging with your organization is different today. The research findings do not apply to every single member of each generation. However, our 20 years of ongoing research findings continue to hold true – making the information valuable when drafting membership engagement and growth strategies to target younger members.  Boomers (1946-1964) Productivity = DedicationBoomers tend to lean toward vision and values. They like inspiring mission statements, setting goals, fixing problems, and measure success in terms of…

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talking

Here’s why you should be talking to millennials

January 17 @ 10:22 pm CST

Sarah Sladek contributed to this article by Think Advisor. How many of you are marketing to millennials right now?” the moderator asked the audience at the “Getting Gen Y to Buy” presentation by Sarah Sladek, CEO of XYZ University (photo, below), at NAILBA 34 in Orlando, Florida. There were about 50 to 60 people in the room at the time and only four, which he counted out loud, raised their hands. While this isn’t necessarily surprising, the fact that advisors and marketers aren’t focusing on this generation — which, as of this year, has a buying power of $600 billion, according to Sladek — is worrying. As soon as she hit the stage, Sladek played a video that captured three generations, from boomers through millennials. Read the complete article here.

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