DO THE MATH
Using the sample template, calculate what a change to 100% status would mean to your chapter. Assess your current status and, then, consider the following questions.
· How many of your chapter members are SHRM members? Only SHRM professional members should be counted.
· What percentage of your membership do those members represent?
· How many of your SHRM members have designated your chapter as their primary chapter? This would be the number of members for which you are receiving SHRM Chapter Financial Support Program (CFSP) payments.
· What is the likelihood that you will lose some members if you make the change? Factor in those numbers as lost revenue.
Plot out your current membership dues structure. Include the impact of CFSP income and revenue from other chapter events. Using the template may help.
Look at the future state of your chapter’s financial position under a number of scenarios with the change in the membership eligibility. Consider scenarios including “best case” (100% of the chapter’s non-SHRM members become SHRM members) and “worst case” (0% of the chapter’s non-SHRM members become SHRM members). Look at one- and three-year projections in light of your current member retention rate. What is the potential impact of the revenue shift if the newly converted SHRM members do not renew their SHRM membership at the next renewal date? Not only are they no longer SHRM members, they are now ineligible to remain as chapter members.
Will the change in your structure trigger a change in attendance at your events? What impact will that have on your revenue? Any changes should be considered in your future state calculations.
Consider a phased approach – perhaps extending the transition for two years or longer allowing members to change their status over that period. There won’t be any change in your CFSP to the 100% formula until such time as the conversion is completed, but your members will be have more time to make the transition in their personal membership.
While the financial aspect will weigh heavily in your decision, it should not be the sole reason for becoming a 100% chapter.
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