Major Trends for Associations in 2024 and Beyond
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What major trends or changes do you expect to occur within the field or industry your association represents over the next 5-10 years?
At McKinley Advisors, we asked this question and received answers from more than 100 CEOs.
The results revealed the following trending issues are top of mind for associations:
- Workforce shifts
- Economic disruptions
- Regulatory and legislative developments
- Sustainability commitments
- Digital transformation
Has your association board, staff, volunteers, or leaders discussed any of these trends?
During the “Major Trends Expected to Impact Associations” session at Higher Logic’s Super Forum 2024, I explored McKinley’s Trends Report and how you can take strategic action toward each area.
Here are a few ways to position your association for continued resilience on these trends…
Workforce Shifts
Engage your board in a generative discussion about the role your association could have in addressing your industry’s workforce challenges. Consider how technological advancement may require reskilling or upskilling or whether traditional academic pathways continue to be relevant to today’s employer needs.
Economic Disruptions
Inflation continues to rise, geopolitical conflict persists, and lingering pandemic impacts continue to reshape where and how we work. Evaluate if your business model is prepared for these and other potential disruptors and whether it is aligned with the value members would like to receive from your association.
Regulatory and Legislative Developments
Both the international and domestic political environments continue to be riddled with distrust and turmoil. Drive efforts to provide your association and your members with up-to-date, high-quality information about changes in the legal and regulatory landscape and design interactions that foster civil discourse and transparency.
Sustainability Commitments
New global regulations addressing sustainability will continue to push businesses to evaluate environmental impact. Consumers have also placed a heightened emphasis on sustainability concerns when making purchasing and engagement decisions. Consider the direction of your industry and anticipated future trends to identify opportunities to lead on environmental issues.
Digital Transformation
The speed of technological advancement requires associations to learn how to adapt quickly and fail fast. Consider how culture impacts your association’s ability to respond to digital transformation. Clarify your organization’s approach to AI and discuss your AI strategy with your board. (Here is an AI Reflection Guide you can use with your board!)
Associations Need to Think Ahead
Through my experience at McKinley partnering with association leaders, I’ve seen that CEOs who are attuned to their external environment and their members are able to stay agile and navigate change effectively. By fostering ongoing dialogue with stakeholders, asking powerful questions, and listening carefully to responses – spoken and unspoken – we can prepare ourselves to meet the challenges that lie ahead.
I am engaging in ongoing discussions with executives regarding their association’s strategies for addressing workforce shifts, economic disruptions, regulatory and legislative developments, sustainability commitments, and digital transformation. If you would like to be part of the conversation, reach out here!