CHAPTER SPOTLIGHT.Chapter Benefits:
* Variety of programs and opportunities for members to volunteer and get involved.
* Photo directory cross-references members, retirees, companies and strategic sponsors.
* Chapter administration outsourced to Nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive.
Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. Solutions; provides an office, letterhead, person to answer telephones 8:00am to 5:00pm daily. The strategic partners program covers service costs.
Regional Challenges: "Major corporations merging/ moving and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). have a great impact on chapter membership," says Garry Lowenthal, outgoing chapter president (who provided the information for this feature). "Honeywell, 3M and U.S. Bank have announced layoffs. Under these special conditions, member retention is an even bigger challenge; much attention is devoted to this function (see below)."
Membership Goals: Through attrition Attrition
The reduction in staff and employees in a company through normal means, such as retirement and resignation. This is natural in any business and industry.
Notes: , chapters expect an annual 10 percent membership loss, so maintaining the same level requires active recruiting. In the year just ended, TC aimed for a 5 percent net increase. The results: a net increase of 62 new members, plus 12 transferees, or an 8.7 percent net gain.
Membership Development: TC's extensive membership development program (for prospects and current members) is available on FET's Website in the Chapter Toolkit section, under "Best Practices." Lowenthal says, "TC is proud to have won FEI's academic award last year for the best professional development in the country for a large chapter."
The membership retention committee assigns Individuals to whom property is, will, or may be transferred by conveyance, will, Descent and Distribution, or statute; assignees.
The term assigns is often found in deeds; for example, "heirs, administrators, and assigns to denote the assignable nature of a committee member to call someone who's missed three monthly meetings. TC learned that in 1 of 3 cases, that person is no longer with a company and can't afford the dues, so they're informed of options for continuing membership under the "active career" status, with significantly reduced dues. Many who remain eventually serve on committees. "The more active they get, the higher the likelihood they'll remain; and they become the best people to recruit new members. Also, if someone leaves a company -- if it's not a layoff Layoff
1. When a company eliminates jobs regardless of how good the employees' performance. 2. A risk reduction, made by investment bankers, that minimizes the potential downside associated with a commitment to purchase and sell a stock issue unsubscribed by stockholders holding -- someone moves into that job, and we try to replace the person," says Lowenthal.
Recruiting Best Practice Tips:
* Define prospects early in the year, using every resource available. (In addition to "leads" from FBI national, TC uses extensive local resources.)
* Follow up every inquiry and contact with telephone calls, letters and emails. Get to know the executive assistants.
* Have a plan of "how" to communicate.
* Invite prospective members to attend a meeting as a guest, and have the person who invited them telephone within 24 hours following the meeting to ask their opinion of the meeting.
* Make it easy for a prospect to become a member. If they say, "Yes, I enjoyed it and I'm interested in joining, send a membership package," then direct them to FBI's Web site and the Twin Cities Chapter. Show them how easy it is to join online.
Unique Qualities: Building a chapter involves a long-term Long-term
Three or more years. In the context of accounting, more than 1 year.
1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. commitment, coupled with patience and an understanding of the necessity of doing the things that deliver the value required: member benefits, member growth, credibility, quality programs, publicity, scholarship funding, strategic partner growth. Here are two examples of how these "subtle" yet deliberate activities are being carried out in the Twin Cities Chapter:
1. Edmund Jenkins Edmund Jenkins (April 9, 1894 – 1926) was an African American composer during the Harlem Renaissance. Jenkins began as a musician playing in the all band of his father's orphanage. He went to England with the band in 1914 and remained there after the band returned. , chairman of the Financial Accounting Standards Board Financial Accounting Standards Board (FASB)
Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). , requested a private meeting to speak personally with CFOs of the largest Minnesota-based companies on what they considered "hot" issues. It took Lowenthal four months to get into the same room the CFOs of the top 15 corporations representing annual sales volume of $258 billion, 8 of whom were FEI FEI
Fédération Équestre Internationale. members. Bad weather made it impossible for Jenkins to fly to Minneapolis, so the group improvised im·pro·vise
v. im·pro·vised, im·pro·vis·ing, im·pro·vis·es
1. To invent, compose, or perform with little or no preparation.
2. : they met around a large conference table, with a speakerphone speak·er·phone
A telephone or telephone attachment that contains both a loudspeaker and a microphone, allowing several persons to participate in a call at the same time without the telephone receiver being held.
Noun 1. in the center and Jenkins' photo on a big screen.
This was the first of what has now become a quarterly roundtable where Minnesota's largest companies' CFOs and controllers meet to discuss top finance issues. Three additional high-profile CFOs and several corporate controllers have since joined FEI.
2. A second example is hosting meetings at members' organizations -- sometimes just for fun. In a meeting at $51 billion, privately held Cargill, the CFO See Chief Financial Officer. , an FEI member for 18 years, told the audience why he supports FEI membership for himself and many on his finance staff. At the meeting hosted at the Federal Reserve, souvenirs were given to attendees -- shredded shred
1. A long irregular strip that is cut or torn off.
2. A small amount; a particle: not a shred of evidence.
"Part of the benefit FBI offers," asserts Lowenthal, "is the leverage to allow us to get all those people in the room at the same time to talk about issues that are important to senior financial executives."