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MEMBER SURVEY 2018-2019RESULTSANALYSIS RECOMMENDATIONS
April 9, 2019
RESPONDENT PROFILE
MEMBERS MORE ALIGNED THAN THEY REALISERESPONDENT PROFILE 1
Former VBA
member 55%
Former CFA
member40%
New to the society 5%
Original Membership
• 134 respondents; 12% of membership
• Balanced and representative response-rates between the two former organisations and
among the types of designations
• Respondents are a fair representation of the demographics of our membership
RBA 40%
CFA charter
44%
RMFI 2%
CFA, RBA, RMFI
candidate3%
None of these
designations 11%
Designation
RESPONDENT PROFILE 2
Attends events
regularly 23%
Attends 1 or 2
events a year45%
Does not attend events; makes use of other
benefits20%
Volunteer/committee
member12%
Active within the Society
Yes 57%
No 32%
Not Sure6%
Other 4%
Subject to MiFID?
• The most active members made a effort to return the survey; this can skew results
• Majority are or will be subject to MiFID compliance requirements, but not as many as we may
have initially expected
• Three quarters of respondents have been in the industry longer than ten years
Under 3 years 1%
3 to 10 years 19%
10 to 25 years 53%
Over 25 years 25%
Retired or left the industry
2%
Years of Experience
MERGER EXPERIENCE AND CULTURE
HALF HAVE EXPERIENCED NO CHANGEMEMBERS’ EXPERIENCE OF THE MERGER
Have benefited / found it a positive
experience32%
Have not benefited / found it a negative
experience14%
Have experienced no change
49%
Not applicable,
new member2%
Other 3%
Benefits resulting from the merger (all members)
Have benefited / found it a positive
experience 32%
Have not benefited / found it a negative
experience 8%
Have experienced no change
60%
Former CFA Members
Have benefited / found it a positive
experience 35%
Have not benefited / found
it a negative experience 20%
Have experienced no change
45%
Former VBA Members
● Most members appear to not
experience a change in culture or
values due to the merger; this is
positive feedback for the society.
● Most members feel a part of the
new society and have positive
feelings about the merger.
● There does not appear to be a
significant difference in opinion
between former VBA and former
CFA members.
● Members with a negative
experience are adversely
outspoken.
IMPACT ON CULTURE AND VALUES MOSTLY POSITIVECULTURAL INTEGRATION
1
5
11
14
21
23
4
4
11
9
24
31
6
1
4
0 10 20 30 40 50 60
Not applicable; a new member
The new society no longer represents my corevalues
Cultural differences prevent me from feeling part ofthe new society
Culture is not important to me as long as thesociety functions effectively
The new society represents my core values
I feel part of the new integrated society
I have not noticed any change in culture or values
Impact of Culture and Values
Former CFA Former VBA New to society
FEEDBACK SURPRISINGLY POSITIVEMEMBER COMMUNICATIONS
(Somewhat) Positive
experience52%
Neutral experience
28%
(Somewhat) Negative
experience11%
No opinion 8%
Website Feedback
(Somewhat) Positive
experience73%
Neutral experience
20%
(Somewhat) Negative
experience5%
No opinion 3%
Email communications feedback
• Considering that we already know that our communications platform needs ‘work’ the survey feedback on our website and
emails was surprisingly positive.
• The upgrading and refining of our communications strategy (including language policy, communications calendar, event
promotions, newsletters, website and social media strategies) is a priority and a work-in-progress.
● Written content from the society and CFA
Institute are the most highly valued benefits
● Access to a diverse network, and the
opportunity to network are highly valued
● Events, volunteering, committee membership
and outreach to regulators and the industry
are close behind; but half as popular as
written content
● PE Modules, Members App and Career
Development have low name recognition
● More analysis per grouping on the following
slides
EVALUATION OF MEMBER BENEFITS
7
13
14
24
25
26
33
33
53
53
0 10 20 30 40 50 60
Career Development
Members App
PE Modules
Industry and Regulatory Influence
Volunteering/Committees
CE/PE Events
Diverse Network
Networking
VBA Jounaal
CFA Institute Content
Respondents
Most added value members benefits
MEMBER BENEFITS
● One third of respondents consider access to CFA Institute content as an important member benefit.
● However, nearly a quarter report they had not (yet) accessed the content, or did not know how to.
● One third of respondents appreciate the VBA Journaal as an important member benefit and make use of it.
● Some respondents recommended more English content in the VBA Journaal.
● Some respondents would like to see an eco-friendly digital VBA Journaal.
BY FAR THE MOST POPULAR RESOURCES FOR MEMBERSVBA JOURNAAL AND CFA INSTITUTE CONTENT
● Networking is a valued member benefit in which many members participate.
● 20% of respondents consider access to a diverse network and engaging with members diverse in background, experience,
age, gender and/or perspective, an important value add of the society.
● Over half report not (yet) having benefitted from this diversity.
● Members have differing experiences of the mixing of the two societies. Some report that members mix well and appreciate
meeting new people with different backgrounds at events. Far more report that members tend to stick in their groups at
events and do not open up to others (especially non-dutch speakers feel excluded). Some claim that the added diversity
actually leads to less cohesion or miss seeing familiar faces at events.
A DIVERSE NETWORK IS ADDED VALUENETWORKING
● About 15% or respondents consider live events a crucial member benefit (behind the added value of written content).
Because mostly active members responded to the survey it is difficult to assess what percentage of members attend events.
There were several remarks about the events program being irrelevant (for the specific respondent), too commercial or too
Amsterdam-focused.
● About 15% of respondents are members of a committee and consider participation a useful member benefit. However, only
20% of respondents were aware that this is even a member benefit. Several members report wanting to get involved, but do
not know how, or where to go.
● About 20% of respondent are aware of our outreach efforts with regulators; as many find this an important benefit, yet less
than 10% have profited from these efforts. Several members find that we don’t do anything useful on this front.
ACTIVE PARTICIPATION AND OUTREACH CAN IMPROVEEVENTS, COMMITTEES, AND INDUSTRY ENGAGEMENT
● PE Modules need reconsidering. Even with the doubled membership base and vouchers for free modules (VBA members)
participation in the PE Modules has been lower than expected. The reasons can be manifold 1) the choice of topics, 2) the
price 3) lack of understanding what they are 4) low name recognition or confusion (we also offer events, workshops, VU PE
blocks and RMFI blocks on our website).
● Career Development has low ‘name recognition’ and participation rates. This can be due to 1) the committee does not
have enough volunteers, 2) we have not been clear in defining and promoting the career development activities, 3) the
Mentoring program, the most visible CD activity, has stalled. Yet, it is too early to abandon Career Development efforts. The
new competency-based CPD platform will give us a clear foundation upon which to build our CD activities and provides
strategic direction.
● The Members App has not been utilized or promoted to it’s full extent because we cannot yet add our local events to the
App. We are working on ideas to circumvent this. At that point we can put more efforts into promoting this benefit.
NEED RETHINKINGPE MODULES, CAREER DEVELOPMENT AND MEMBERS APP
MEMBERS SPEAK OUT ON STRATEGIC PRIORITIES AND FOCUSCORE VALUES AND FOCUS
13
3
3
19
23
32
39
41
48
63
75
0 10 20 30 40 50 60 70 80
Other
Accountability
Client service/profitability
Raising standards
Market transparency
Brand awareness
Industry engagement
Regulatory outreach
Visibility
Ethics, Integrity and Trust
Education
Responses
Strategic Focus
13
10
13
16
17
20
35
35
44
54
57
0 10 20 30 40 50 60
Other
Diversity
Committees/volunteering
Ethics
Regulatory compliance
Recognition of designations
Impact in the industry
Career advancement
Networking
Education programs
Skills/Competence
Responses
Member value should focus on
• Members’ strategic priorities seem to be very much in line with our own Mission and Vision.
RECOMMENDATIONS
SMART MARKETING
● Promote member benefits in a brief, interactive way
(one-pagers/pictograms)
● Do a better job of communicating our
accomplishments, especially our regulatory outreach
efforts, and how this benefits the member
● Video tutorials on how to for record CE/PE and use the
Members App
● Make CFA Institute content more visible; create video
tutorials for accessing CFA Institute content
SOME QUICK-WINS AND SOME LONGER-TERM PROJECTSRECOMMENDATIONS 1
SMART COMMUNICATIONS
● Fewer emails, more structured and better targeted to member
demographics
● A communications calendar to assist in planning
● Continue to develop and improve the website
● Improve member statistics to better target programming and
support diversity
● Update VBA Journaal by creating an interactive digital version
and including more English content
ADAPT EVENTS/PROGRAMMING/CONTENT
● An integrated platform to provide guidance to
members, committees and the office for continuing
education
● Diversify locations (The Hague, Rotterdam, Utrecht)
● More ‘real’ investment content; practice-oriented;
economic analysis; asset allocation, etc.
● Re-think the PE Modules
● In addition to or instead of live events, encourage
committees to be creative in their content delivery;
consider white papers, opinions, research and articles
SOME QUICK-WINS AND SOME LONGER-TERM PROJECTSRECOMMENDATIONS 2
FOR THE PROJECTS PIPELINE
● A broader platform for and assistance to members and
committees who want to contribute written content
● Implement Volunteer Management to encourage, increase and
structure member participation through committees and projects
● Facilitate member mixing at events; highlight the benefits of
diversity to our members; promote diversity in committees
● Repeat the member survey in a year to gauge integration and
satisfaction; consider revisiting the cultural integration project
● Revitalise and support Career Development activities