Partnering with Vault Consulting on your next benchmarking study provides your members with actionable intelligence to objectively assess their performance compared to industry peers, meaningful metrics to guide strategic business decisions, and comparative measures of success that can be tracked from year to year. With benchmarking studies, your members can access industry data at a regional, national, or international scale on topics such as: Compensation and Salaries Employee Benefit Packages Operational Processes Financial Metrics What Kind of Benchmarking Research does Vault Conduct? Financial & Operational Metrics Benchmarking reports focused on financial and operating costs help associations and member executives: Interpret financial ratios such as liquidity, asset turnover, financial leverage, and profitability Measure an organization’s operating efficiencies Determine a blueprint for the most profitable organizations in their sector Provide critical insight as to how they stack up against industry peers Compensation & Benefits A comprehensive study can give your members a significant advantage in hiring and retaining top/talented employees. Your member companies are in a perpetual staffing struggle and whether times are good or bad, employees are always looking for greener pastures. Additionally, companies that can identify new trends in benefits and implement them into their compensation structure will stand to improve their image to prospective employees and recruits, while simultaneously gaining loyalty points from their current employee base. What is the Process and Partnership Like with Vault on Benchmarking Study Initiatives? Best practices in conducting a benchmarking study with Vault include the following steps: Have a Kick-off meeting to introduce Vault and discuss the project goals Work with staff and select members to identify what insight they want to gain from the results Design the survey questionnaire or modify the current questionnaire to improve data capture while keeping consistency for trending purposes Determine the best timing for reaching members Pre-test the survey on staff and members Define the report content with the user in mind Perform extensive internal reviews at each step in the survey process How Often Should We Conduct Benchmarking Studies? The frequency of surveying is largely dependent on the type of benchmarking study and industry; however, Vault recommends biennially as a healthy standard. Still, there are some industries where conducting an annual survey is practical. Have More Questions? Contact us to learn more about your benchmarking options with Vault Consulting.

The benefits of being a certified public accountant are abundant; yet, the act of obtaining the certification can be described as an arduous journey. Certified public accountants have a little more leverage in the job market, as some tasks impermissible for accountants to complete can be done by CPAs. In other words, the CPA designation is a point of recognition for the hard work accountants undertake to pass the Uniform CPA Exam, and it is a marker of an accountant’s ongoing commitment to the profession by completing required continuing education each year. The CPA exam is issued by the American Institute of Certified Public Accountants (AICPA). Taking the exam right after college is ideal because the content is still fresh in the mind, but if you missed that window, it is not too late! To get the hands-on practical experience required for certification, rather than sitting for the exam, some gain experience working under a CPA first. Since both approaches to the certification requisites are analogous, Vault takes a proactive approach at helping their staff prepare to sit for the four-part exam. Below are some guiding points to make studying for the Uniform CPA Examination the most effective for those balancing work and life alongside test preparation. Build out a Healthy Time Frame to Study for Each Section Candidates should give themselves at least six weeks to get through the material for each of the four sections: Audit and Attestation (AUD), Financial Accounting and Reporting (FAR), Regulation (REG), and Business Environment & Concepts (BEC). In addition to the six weeks for each section, Vault staff Kristen McNulty recommends that full-time employees with other obligations build in an extra two-week-review-period for each section just before taking the exam. She also believes, “looking at the big picture and how much material you have to go through can be overwhelming. Break it down. Commit to ‘x’ number of chapters to get through each week, even if some weeks that is one chapter.” Select Test Dates That Coincide with Your Study Plans AICPA allows candidates to take the test in parts; although, candidates must finish and successfully pass all four parts within an eighteen-month-period. With that in mind, McNulty offers her wisdom, “start with a section you are familiar with. I used to be an auditor, so I started with that section. It makes it easier to relate to something you’ve done in practice.” She also recommends scheduling sections of the exam that full-time candidates are most comfortable with during the busy time of the year, so that when things slow down in the workplace, studying for harder parts of the test can take forefront. AICPA will soon eliminate the testing windows on the first of July 2020 and replace that practice with year-round testing. This re-emphasizes the importance of scheduling parts of the exam during the slow season in the workplace. This way, if a candidate receives a failing score on their initial attempt, they can schedule a re-take for the same section right after, while the content is still top of mind. Be Methodical but Stay Practical As a full-time worker and CPA candidate, McNulty does not sugar coat the dedication and time that goes into studying, “you have to say ‘no’ to a lot of things, which isn’t fun. If you share about the exam with people around you, they’ll understand and hopefully they’ll be able to support you in your commitment.” So, while sharing goals with loved ones and colleagues help promote candidates’ accountability and give them a support system, McNulty also believes in giving herself a grace period. This grace period can be used up when family or work obligations get in the way of study time. Having built-in that extra layer of time will come in handy when candidates lose a day or two on account of life. Everyone Learns, but Not Everyone Learns the Same Way Whether you do better waking early to get an hour of reading done on the elliptical or stay up a little late curled up in bed with a textbook, candidates should really gain a firm understanding about what time of the day they’re most productive and less absorbed in other tasks. Studying somewhere you enjoy is right up there with the time of day candidates choose to study. While some enjoy the lively atmosphere of a coffee shop, others may do better in a quiet corner at the library. Similarly, although some candidates may flourish with independent study, others may need some peer-to-peer interaction. Buddy up with other CPA candidates and work in symbiosis to teach and learn from each other. This is an especially good study method when each study buddy brings a different strong suit to the study table. However, “If you find that you are still not retaining the material or grasping the concepts, a tutor is a good option,” acknowledges McNulty. Eliminate the Surprise Factor & Take the Practice Test Equally important to familiarizing yourself with the functionality of the digital exam is being ready to answer questions posed in various formats: multiple choice questions (MCQ), task-based simulations (TBS), and written communication tasks (WCT). Keep Calm and Study On “Everyone wants to see you succeed,” says the optimistic CPA candidate McNulty. Overall, this journey is not easy, so Vault leaders encourage the CPA candidates on staff to make S.M.A.R.T. goals and hold them accountable while also cheering them on. Helpful Resources: Tool to Help Candidates Start on the Right Path This quiz helps candidates understand the steps, process, and variables essential to be eligible to sit for the exam. CPA Exam Sample Tests and Tutorials Find sample tests in each of the four sections of the Uniform CPA Examination along with tutorial videos on the exam software. Testing Windows to Be Replaced by Year-Round Testing See details concerning the effective date, stipulations, and other information regarding the upcoming transition from testing windows to year-round testing on this webpage.

It’s been observed that the most difficult concept for a fish to understand may be that of water itself. In other words, it’s often difficult to see your organization with enough perspective to truly understand the environment that surrounds and defines you.  While a lack of self-awareness can be limiting for an individual, for an organization, it can be much more significant — and even stand in the way of growth. In this post, we’ll look at four key areas in which gaining additional insight can make a measurable difference in managing growth in nonprofits. 1. Know your revenue situation and tools Some of the most commonly tracked metrics for managing growth in nonprofits include new members, total dues and non-dues revenue, and renewal rates. Non-dues revenue metrics could include sales of any intellectual property your organization creates, such as industry trend reports, benchmarking studies, and custom interactive dashboards.  Fortunately, association management systems (AMS), and accounting systems more broadly, are designed specifically to offer insights into tracked metrics and various revenue streams. If you’re not getting the insights you feel you need, consult with your accounting team to identify ways to improve the information you’re receiving. 2. Know your members and their needs Insight into members and their needs is perhaps the most essential piece of knowledge a member organization can have. But what you know about your members can change over time. For example, what mattered most to your members in 2019 may bear little resemblance to what they care about most as their businesses continue to emerge from the pandemic and associated economic downturn. A good strategy is to update your findings regularly. It’s also important to understand not only what services your members want from your organization, but also how and when they prefer to engage with your organization. Insights into the types of involvement members prefer, and at what age or career points they engage with you, can help you finetune your membership and engagement lifecycle, so that you can remain relevant to members throughout their careers. In addition, there are often meaningful differences in needs between members of one generation and the next, regardless of where an individual may be in their own career.  Last but not least, managing growth in nonprofits relies on having an accurate understanding of how your organization is perceived by both members and non-members. If you haven’t conducted research into such perceptions recently, you may be unaware of changes that could affect your ability to attract and retain members. 3. Your competitive landscape For some association professionals, it may seem odd to think about their organization as having competition. But even if you’re the only association serving professionals in your given field, those professionals still have other options. With the broad success of platforms such as LinkedIn, members may be able to create their own professional network. Still others may find that subscribing to key industry publications, user groups, or news feeds can keep them in touch with important trends and issues.  For this reason, conducting competitive analyses, focus groups, and surveys can help you understand where your organization fits as an option for members — and how to convey your unique value proposition to both members and non-members.  4. Your internal processes and efficiencies — and where they can be improved At a fundamental level, your organization’s growth depends on continually improving core processes — beginning with any functions that constitute a “touch” experienced by your members. It pays to periodically review processes for any disconnects or bottlenecks, and address them before they become issues that affect members’ experience when interacting with you. Improving efficiencies in this way can help your organization significantly reduce error, waste and rework. In addition, it can help free up time for staff, and allow them to do what they do best in responding to member needs and moving the organization’s mission forward. Therefore, at a minimum you need to review any areas where you’re experiencing problems, and look for technology or other solutions that can help you generate better results. The stakes are high — so start addressing your knowledge gaps today By recognizing any areas where your organization’s knowledge comes up short, and acting to gather the missing information, you can make better decisions on behalf of your members and create a better value proposition. At a time when your members may be reevaluating every expense, including their membership fees, following these recommendations can mean the difference between just hanging on, or growing steadily. For more information and insight about growing your nonprofit, contact Vault Consulting today.

One of the fundamental imperative for nonprofits is the need to grow — in spite of the many challenges they face. Often, keeping your organization on a solid growth path requires maintaining a clear-eyed, comprehensive view of your organization’s strengths, weaknesses, opportunities and threats. These insights are crucial to not only overcoming growth obstacles, but also to anticipating where trends are heading, and taking proactive steps at a time when they can be most effective. It’s been observed that the most difficult concept for a fish to understand may be that of water itself. In other words, it’s often difficult to see one’s organization with enough perspective to truly understand the environment that surrounds and defines you. While a lack of self-awareness can be limiting for an individual, for an organization it can be much more significant — and even stand in the way of growth. In this post, I’ll look at four key areas in which gaining additional insight can make a measurable difference in managing growth in nonprofits. 1. Know your revenue situation and tools Some of the most commonly tracked metrics in managing growth in nonprofits include total dues and non-dues revenue, and renewal rates. Additional revenue metrics could include sales of any intellectual property your organization creates, such as industry survey results/analysis, the effectiveness of various marketing messages, and so on. Fortunately, association management systems (AMS), and accounting systems more broadly, are designed specifically to offer these types of insights, in a variety of formats. So if you’re not getting the insights you feel you need, consult with your accounting team to identify ways to improve the information you’re receiving. 2. Know your members and their needs Insight into members and their needs is perhaps the most essential type of knowledge a member organization can have. It’s also one that can change over time, so it’s a good strategy to update your findings regularly. For example, what mattered most to your members in 2019 may bear little resemblance to what they care about most now as their businesses continue to emerge from the recent economic downturn. It’s also important to understand not only what services your members want from your organization, but also how and when they prefer to engage with your organization. Insights into the types of involvement members prefer, and at what age or career points they engage with you, can help you finetune your membership and engagement lifecycle, so that you can remain relevant to members throughout their careers. In addition, there are often meaningful differences in needs between members of one generation and then next, regardless of where an individual may be in their own career. Last but not least, managing growth in nonprofits relies on having an accurate understanding of how your organization is perceived by both members as well as non-members. If you haven’t conducted a survey of such perceptions recently, you may be unaware of changes that could affect your ability to attract and retain members. 3. Your competitive landscape Some association professionals may find it odd to think about their organization as having competition. But even if you’re the only association serving professionals in your given field, those professionals still have other options. With the broad success of platforms such as LinkedIn and others, members may be able to create their own professional network. Still others may find that subscribing to key industry publications, user groups, or news feeds can serve to keep them in touch with important trends and issues. For this reason, conducting competitive analyses, focus groups, and surveys can help you understand where your organization fits as an option for members — and how to convey your unique value proposition to both members and non-members. 4. Your internal processes and efficiencies — and where they can be improved At a more fundamental level, your organization’s growth depends on continually improving core processes — beginning with any functions that constitute a “touch” experienced by your members. It pays to periodically review processes for any disconnects or bottlenecks, and address them before they become issues that affect members’ experiences when interacting with you. Not only does improving efficiencies in this way help you respond better and faster to members, but doing so also helps you reduce error, waste and rework. Therefore, at a minimum you need to review any areas where you’re experiencing problems, and look for technology or other solutions that can help you generate better results. The stakes are high — so start addressing your knowledge gaps today By recognizing any areas where your organization’s knowledge comes up short, and acting to gather the missing information, you can make better decisions on behalf of your members and create a better value proposition. At a time when your members may be reevaluating every expense, including their membership fees, following these recommendations can mean the difference between just hanging on, and staying on a steady path of growth. For more information and insight about growing your nonprofit, feel free to contact  Vault Consulting .

Vault is committed to building a more diverse and inclusive workspace where employees are empowered and encouraged to bring their whole self to work.  In honor of Black History Month, we are highlighting historical figures who pioneered progress in our industry.  Katherine Johnson   Vault provides a range of data analytics and primary market research services to nonprofit organizations and this week we nod to the pioneering work of mathematician and statistician, Katherine Johnson, in the field of data analytics. Johnson defied restrictions of age and barriers implemented by racial prejudice to propel the United States to new heights in space exploration. She is most well-known for calculating the trajectory for launching the first American into outer space and for her manual analysis of navigation for the first orbit of Earth, to verify the work of computers.   Johnson was born in 1818 in West Virginia. She demonstrated her aptitude for numbers at a young age by speeding through high school, beginning college at West Virginia State University at 14, and then graduating with highest honors in Mathematics and French at 18 years old.   She began teaching in Virginia after college until she was personally invited by the president of West Virginia University, an exclusively white institution, to attend a master’s program as part of the integration of colleges in the United States. Johnson never completed her post-graduate education, as she left school to raise her three children.      The Path to Takeoff  In 1953, Johnson and her husband moved to Newport News, Virginia, where Johnson accepted a post in an all-black division of NASA at Langley Research Center. Her brilliance was quickly noted, as was her race. Johnson, along with other black employees in the computing pool were required to work, eat, and use the bathroom in separate facilities from their white co-workers.   None of these circumstances daunted her. While at NASA, Johnson was often referred to as “the computer” for her remarkable computation ability which she used to read and analyze data for flight tests and plane crashes. In 1960 she conducted the trajectory analysis of America’s first human spaceflight. Two years later, Johnson conducted a manual analysis of the trajectory of the first orbital of Earth, in order to verify the work of computers, which were considered too novel of technology to be trusted. In 1969 she calculated the flight trajectory for Apollo 11’s flight to the moon. Her mathematical accuracy transcended racial and gender obstacles to earn her respect and a reputation in data science.   Johnson remained an aerospace technologist for over 30 years, retiring from NASA in 1986. She was recognized late in life with the award of the two highest civilian honors in the United States, the Presidential Medal of Freedom in 2015 and the Congressional Gold Medal in 2019, in appreciation of her contributions to computation and mathematics. She passed away in February 2020, at age 101.   Increasing Diversity in the Data Analytics Profession  Johnson revolutionized the fields of engineering and mathematics as a statistician and made history as a black female in the math industry. While she paved a path towards racial and gender equity with her own achievements, she began work that is far from finished.   Today, women hold only 26% of jobs in data science in the United States. Black data scientists make up only 5.1% of employees in their field. Blacks are disproportionately represented in computer and math industries in the United States, making up 12% of the whole workforce but only 5% of the mathematics field.  Vault is committed to increasing diversity not only in the Data Analytics profession, but the workforce as a whole. Check out our recent  blog post highlighting changes needed to increase diversity in the CPA profession.   Sources Women, Minorities, and Persons with Disabilities in Science and Engineering US Bureau of Labor Statistics

Vault is committed to building a more diverse and inclusive workspace where employees are empowered and encouraged to bring their whole self to work.  In honor of Black History Month, we are highlighting historical figures who pioneered progress in our industry.  Roy Clay Vault provides software development support to nonprofit organizations and this week we share the remarkable career of Roy Clay, a black software development engineer who advanced the field of data processing and computing by leading the Hewlett-Packard team’s development of the first microcomputer.   Clay was born in 1929 in Kinloch, Missouri, the first community in the state of Missouri established by African American freedmen. As a child, he attended a segregated school and showed a propensity for mathematics.   Following high school, Clay was awarded a scholarship to study mathematics at Saint Louis University, which was in the early stages of integration at this time. Clay graduated in 1951 and took a position as a teacher after being turned away from several other positions due to racial bias. In his free time outside of teaching, he taught himself to code and in 1958 began working in the Lawrence Livermore National Laboratory at the University of California, Berkeley. His software script developed to analyze radiation in the aftermath of nuclear explosions caught the attention of Dave Packard in 1965 and became a turning point in Clay’s career.    Expanding Bandwidth   Clay moved to Palo Alto, California, in Silicon Valley, to accept a position from Hewlett-Packard leading the team that was developing and bringing the first micro-computer to market. He helped to launch the computer science division of HP and bring the model HP 2116A minicomputer to marker in 1966. The computer was revolutionary at the time for being the size of a typewriter and demonstrating the first use of integrated circuits in a commercial product.   Following his leadership of the computer science division of HP, Clay became an avid proponent for accelerating the careers of other black software developers. For a period, he was the highest-ranking black member of staff at Hewlett-Packard, a company with an executive leadership team now (in 2021) composed of 54% total minorities, 23% women and 23% under-represented minorities.   Clay is known as the “Godfather of Silicon Valley,” for his extensive work recruiting black software engineers to HP, championing recruitment from historically black colleges, for serving as the first African American on the Palo Alto City Council, as Vice Mayor of Palo Alto, and for his extensive work investing in Silicon Valley startups including Intel Computers.   Clay began his own computer company, ROD-L Electronics, and currently resides in Palo Alto, California.   Increasing Diversity in the Software Engineering Profession   While Clay worked tirelessly to offer similar opportunities in tech and software development to other black computer scientists, Silicon Valley remains a community devoid of diversity.   In 2018 only 1% of venture capital dollars in Silicon Valley went to black start-up founders. As a tech giant, Google guides technical advances and subsequently the social narrative of the industry. Yet black employees only made up 2.8% of Google’s technical roles and 4.8% of their entire workforce. Underrepresentation continues to prevail in the field of software engineering.    Vault is committed to increasing diversity not only in the Software Development profession but the workforce as a whole. Check out some of our recent blog posts highlighting pioneers in accounting and research professions.

Vault is committed to building a more diverse and inclusive workspace where employees are empowered and encouraged to bring their whole self to work.  In honor of Black History Month, we are highlighting historical figures who pioneered progress in our industry. John W. Cromwell, CPA Vault offers outsourced accounting services and this week we look to John W. Cromwell, Jr. the first Black CPA, as an example of resilience and tenacity. Cromwell Jr. was born in Washington D.C. in 1833 to a prominent black family. His father was born enslaved in Portsmouth, Virginia, but was freed and worked to achieve an advanced education. Cromwell Jr. followed in his father’s footsteps and excelled in math and science at Dartmouth College where he earned highest honors as an undergraduate student in 1906. He went on to attain his master’s degree from Dartmouth and returned home to Washington D.C.  to begin work. Roadblocks to the CPA In the early 1900s a CPA certification required a minimum experience requirement practicing public accounting. This regulation prevented Blacks from having access to this certification as most CPA firms refused to hire them due to mistrust from clients. Many firms claimed that their clients would not tolerate a person of color being involved in their financial affairs. Subsequently, Cromwell Jr. took a post after college as a high school math teacher at Paul Laurence Dunbar High School, a prestigious Black high school in Washington D.C. First Black CPA In 1921, New Hampshire became the first state in the United States to drop their experience requirements for the CPA certification. Cromwell Jr. sat for the CPA exam in New Hampshire that year and became the first Black CPA. His license was granted 25 years after the first CPA license was conferred to a white man. Cromwell Jr. taught and worked as a CPA in Washington, primarily within the Black community. In 1960, nearly 40 years after he earned his CPA certificate, Cromwell Jr. remained the only Black CPA in the District. He passed away in 1971 at age 88. Increasing Diversity in the CPA Profession Prior to Cromwell Jr., the road to the CPA seemed unattainable for the Black community. His tenacity and resilience paved the way not just for Blacks, but minorities as a whole. In 1969, the AICPA formed the Minority Initiatives Committee to increase diversity in the CPA profession. Their goal was to provide opportunities and promote the hiring of qualified minority accounting students.  Today, minorities only represent 4.3% of the accounting profession and Blacks make up 3% of the new hire population for CPA firms.  This means that within 40 years, the Black percentage in the accounting profession only rose by 2%. Vault is committed to increasing diversity not only in the CPA profession, but the workforce as a whole. Check out our recent blog highlighting changes needed to increase diversity in the CPA profession.

Vault is committed to building a more diverse and inclusive workspace where employees are empowered and encouraged to bring their whole self to work.  In honor of Black History Month, we are highlighting historical figures who pioneered progress in our industry.  Dr. Sylvia Walker   Vault Consulting offers Human Resources consulting services specializing in innovative workspaces and creative Human Resources practices and this week our spotlight falls on Dr. Sylvia Walker, a disability rights activist whose work contributed to the Americans with Disabilities Act .   Walker was born in New York City in July 1937. She was adopted as an infant and throughout her childhood she had setbacks in her education due to an eyesight impairment. At age 10, Walker obtained her first pair of glasses, launching her school career forward. At age 14, however, she became legally blind.   Throughout Walker’s life she encountered discrimination and championed equality in her education and professional career. Ableism is social prejudice in favor of people with full physical and mental capabilities which results in discrimination of individuals with physical and mental impairment. For Walker, this type of discrimination compounded with racial prejudice.   Walker studied social science and education with a focus on early childhood development at Queens College, City University of New York. She went on to receive a Master’s degree in Education of the Physically Handicapped from Hunter College. In her Doctorial studies, she traveled to Ghana and wrote her dissertation on the perception, treatment, and status of the disenfranchised disabled population there. She earned her Doctorate in Education of Disabled and Health-Impaired People.   Seeing a New Way Forward  Walker became the Director of the Center for Disability and Socioeconomic Policy Studies at Howard University and of the Howard University Research and Training Center in 1988. Under her lead, research teams focused on disabled people of color. Disability was defined as having a physical or mental impairment that substantially limits major life activity. She pointed to disproportionate representation of low-income people of color among the disabled population of the United States, due to a lack of health and educational resources for them.   Walker’s research into poverty, race, and disability led her to co-found the American Association of People with Disabilities. Her advocacy focused on the implications of physical as well as mental impairment and brought her to the attention of President Bill Clinton where she was appointed Vice President of the Committee on Employment of People with Disabilities. In 1990 her research at Howard University contributed to congress passing the Americans with Disabilities Act. Her contributions to awareness of disability discrimination and minority representation among the disabled community transformed employment policy in the United States.   Walker passed away in February 2004 at the age of 67. Her legacy for championing the rights of the disabled, especially disabled youth, and people of color continues to influence education and government policy for equal rights today.    What is the ADA?  The Americans with Disabilities Act was signed into office by President George H.W. Bush in 1990. It is a civil rights law that prohibits discrimination based on ability, requires employers to provide accommodations to employees with disabilities, and imposes accessibility requirements on public spaces. It was modeled after the Civil Rights Act of 1964, and in many ways expanded upon it as minorities are disproportionately represented in the the disabled population of the United States.   Walker’s pioneering research brought attention to the in the social implication of ability and disability, and disenfranchisement of disabled minorities in the United States. While the Act grants legal rights to disabled Americans, it is only one piece of disability equality. Historical inequities leading to the marginalization of disabled individuals contribute to the 61 million Americans with disabilities struggling to find jobs and facing higher rates of poverty and incarceration today. Inclusion and accessibility activism must continue in order for Walker’s work to be effective in practice.   Vault is committed to increasing diversity and supporting disability rights not only in the Human Resources profession, but the workforce as a whole. Check out some of our recent blog posts highlighting pioneers in accounting ,   research , and software development professions .

Are you providing your members with tools to track the health of their industry or profession as well as their performance? An effective association-sponsored research program can be a cornerstone member benefit and a powerful tool to further engage your membership and reinforce the power and effectiveness of your association. But what about antitrust concerns? Are you complying with the safe harbor established by the federal antitrust enforcement agencies? Jeff Tenenbaum, Esq. , Managing Partner of Tenenbaum Law Group PLLC, and  Mike Hayes , Principal & Managing Director of Vault Consulting, hosted a virtual discussion on the best practices for conducting association-sponsored research and understanding the legal risks, particularly as it relates to federal and state antitrust laws. Click below to play the webinar! ( Sound On! ) What You’ll Learn: Learn best practices for conducting association-sponsored research and what has worked well for other associations Understand the importance of the antitrust laws in connection with association information exchanges, benchmarking, and similar data-collection programs Leverage legal guidelines and safe harbors while making it all work for your association

When people ask me what I do, the response of insights and analytics consultant often is met with blank stares. So I follow up with “I conduct focus groups and surveys” . After-all, that’s what research is all about, right? While there is a bit more to it than that, this description does encapsulate the two main types of research, qualitative and quantitative. Research Methods Quantitative research gathers data from a variety of sources and then analyzes it to provide a straightforward, numbers-focused understanding of the “what” concerning a certain topic. Most of our clients are very comfortable with the what – surveying members and stakeholders on everything from education or conference evaluations to advocacy needs or overall satisfaction. However, quantitative data can’t always provide the full picture. In order to truly understand an issue and how to act on it, you often need the “how” and “why”. This is where qualitative research comes in. For many, focus groups are synonymous with qualitative research (which is why it is a handy way to describe what I do for a living). While they are certainly a popular method, it’s just one of many. Approaches to Gather Qualitative Insights Focus groups . In a focus group, researchers assemble a group of 6-8 (virtually or in person) to share their opinions and thoughts about a particular topic. Focus groups create an ideal forum for brainstorming where participants can take their thinking in whole new directions. This is the kind of setting where an “ideal” model can be created by a group, or where ideas can be fleshed out more fully. Additionally, focus groups provide the time (two hours) and the setting for really robust discussion. It’s this kind of energy that can really play out in new ideas and new ways of thinking. In-depth interviews. Another popular method for doing qualitative research is the in-depth interview (IDI). As its name implies, this style of research is typically a one-on-one conversation between a person with insights or opinions about a topic and the interviewer. Generally, IDIs are considered one of the richest methodologies available to provide in-depth insights into a target audience’s thinking and attitudes. Their intimate setting allows for a very focused conversation while eliminating the influences or pressures that sometimes happen in larger groups. Without the threat of feeling uninformed or the pressure to “one-up” the other participants, respondents will be much more candid in their conversation and you’ll get a truer read on what they really think. Bulletin board. Like in-person focus groups, in this approach you begin by inviting a group of potential participants to share their opinions on the topic being researched — but in this case, in an electronic bulletin-board environment. Of the various online methodologies available, bulletin board discussions provide participants with the greatest amount of anonymity and privacy, ensuring a robust and rich discussion about the subject. Like the online focus group, this approach also affords the ability to reach and retain low incidence, hard to recruit targets (geographically dispersed) and broad geographic coverage offers better representation. Further, participants enjoy the ability to participate in research from anywhere and at a time convenient to them. Clearly, there is no one-size fits all approach to qualitative research (or any research). Picking the right methodology requires a deep understanding of the questions at hand, the individuals who will be answering those questions and the relative strengths and weaknesses of the various approaches. Get the Benefits of Primary Market Research At Vault, we believe that conducting primary market research, including qualitative research, is a great way to make your organization thrive. However, great research is only the beginning. At Vault Consulting, we tailor our research services to help your organization meet its goals and provide the tools you need to translate data into actionable information. If your organization requires professional primary market research services, contact us for more information about our research services today!

The world of work is changing. With the entry of Generation Z in the workplace and Millennials into more management roles, we’re seeing organizational shakeups and new expectations around when, where, and even why we work. Workers within these two generations have gained reputations for frequently switching jobs in order to achieve the compensation, flexibility, and sense of purpose they desire. As Deloitte reports in its Global Gen Z and Millennial Survey , four in 10 Gen-Zers and nearly a quarter of Millennials want to leave their jobs within the next two years, and many of these future job-seekers want jobs that align with their values. Meaningful work that helps drive positive change is important to these generations. It also provides one key way in which nonprofits stand apart from other employers. However, this shared purpose alone is not enough to attract quality candidates.  With these changes within the labor market, now is an excellent time for nonprofit employers to take a fresh look at their recruitment strategy and messaging to ensure that they’re tuned in to what today’s employees want. Below, we offer seven tips to enhance recruiting for nonprofits. 1. Ensure your employer brand reflects your mission Your employer brand is what employees think of when they hear your organization’s name. For nonprofits, this likely includes your mission. Many individuals are attracted to nonprofits because they care deeply about an issue and want to serve as an advocate. That said, you can’t assume that candidates are searching for your organization based on a shared interest. Clear messaging around your mission will help with recruitment beyond niche job boards. This audience may not have initially considered nonprofits as an employment opportunity. However, it’s also important to highlight your organization’s culture, values, and benefits to create a picture of day-to-day work within your organization. 2. Promote inclusivity in your work environment Employees want a work environment where they feel like they belong and that their contributions are valued. Recruiting for nonprofits is all the more impactful when the mission is aligned with inclusivity. An emphasis on inclusivity can be communicated through clear, detailed job descriptions that encourage anyone to apply. It can be conveyed when you reach out beyond traditional recruitment websites to social media or membership societies targeted toward groups under-represented in your sector. Whatever strategies you choose, it’s important to also explicitly highlight in your recruitment messaging how inclusivity is reflected in your mission and workplace. 3. Determine how you can compete on compensation and benefits When it comes to for-profits, a competitive salary can be the biggest differentiator in attracting top talent. But with an average salary of $67,000 a year, nonprofits tend to find compensation a sticking point in attracting top talent. It doesn’t have to be. It may be that nonprofits can offer more meaningful benefits – think volunteer time or greater work-life flexibility – that truly hit the mark for what matters to employees. The first step to competing is to craft a compensation plan that reflects what’s expected in your sector and region. Your industry association may be able to provide salary data for your sector. While nonprofits may not be able to offer a salary as high as their for-profit peers, it shouldn’t be too far off the mark either. Location-based salary surveys may be available through the local chapter of the Society for Human Resource Management, among other sources. 4. Provide opportunities for professional development Job candidates want to know they will be able to grow and develop within your organization. When recruiting for nonprofits, encourage these conversations so that candidates understand how you aim to support them. Professional development doesn’t always require funding. Mentorships are a cost-effective strategy for building job skills and deeper knowledge in your sector. Simply affording individuals the time to attend conferences or pursue additional training or higher education can be a powerful enticement. 5. Identify career path opportunities and limitations Prospective employees want to know what a future with your nonprofit holds for them, but it can be hard for smaller nonprofits to offer a comprehensive career path. It is important to have these conversations upfront and ensure that candidates understand potential opportunities for growth. Individuals should recognize that there may be some limitations in how far they can go in a short amount of time at a small nonprofit. That doesn’t mean there’s not an opportunity to grow – it may simply require more patience as opportunities for advancement may take longer to arise. In the meantime, career mapping can help nonprofits and employees identify those opportunities and a potential timeline for advancement. It may also help to focus on growing impact over growing into clearly delineated roles. 6. Recognize and reward employees Employees appreciate being recognized for their hard work. Taking the time to recognize and reward employees for their accomplishments can build engagement and loyalty. This can be done through formal recognition programs, such as awards, or through informal recognition, such as public praise, thank you notes, and kudos on internal chats. Public recognition that celebrates employees on social media channels can also serve as an extension of your employer brand. 7. Track employee satisfaction Employee satisfaction is essential for attracting and retaining top talent. Take time to understand what makes your current employees happy in their jobs, that they’re finding the sense of meaning they expected in their role, and are developing in a way that they find satisfying. Make sure, too, that your people feel they are able to talk about their experience with their managers and are getting regular feedback. It can help to have an employee experience diagram that provides a clear visual of what employees should expect in terms of the workplace culture and how management accessibility and feedback delivery will meet these expectations. This tool, alongside surveys and interviews with team members, can ensure expectations are being met. Attract Top Talent with a Strong Recruitment Strategy Recruiting, for nonprofits, is an opportunity to express how your organization can offer employees the meaning they seek in their careers. With these tips, nonprofits can begin to craft a competitive strategy for attracting candidates from a broader pool than ever. Ready for one more tip? The most impactful way to enhance your recruitment strategy is to outsource your nonprofit’s HR management to a third-party expert. Contact us at Vault Consulting to learn more about how we can help attract top talent while you focus on your mission.

Member research is a great way to make informed and strategic decisions. When done effectively, it provides deeper insight into your member, stakeholders, and their reasons for engaging with your association.  Who are your members? Understanding your member universe allows you to develop the most comprehensive strategy for maintaining and growing your engagement and membership. Research can support and grow your membership strategy by enabling you to understand better your members’ motivations, intentions, and behaviors. Such information is invaluable for strategic planning and maintaining a thriving organization. Use member research to answer and address key areas in your organization: Membership Personas:  Discover more about who your members or donors are.  What are their pain points?  How do your members’ job responsibilities, tenure, professional accomplishments, and goals differ?  Why do they choose to support your organization?  What matters most to them? Are members satisfied with the current benefits? Communication Efforts:  Member research allows you to learn how and why your members differ. If you know this information, you can better segment your audience so that members only receive communication from your organization when it’s pertinent to their needs or interests.  For example, custom individualized email messaging will result in higher open rates and increased engagement.  3. Strategic Brand Development:  Perception is reality. If you understand more about how your members perceive your organization, you can correct or capitalize on those perceptions.  For example, learn how your members view your organization compared to others in your niche. This information could help you identify strengths and weaknesses in your existing branding or marketing efforts. Cultivate and Refine Membership Offering:  Evaluate whether you offer your members the right mix of products and services. Could new offerings expand your appeal and, therefore, your member base? Understanding what your members and non-members value from your association while identifying unmet needs will allow you to focus on the most valuable products and services.  Tips for Success Once you’ve established your objectives for your member research, begin evaluating how your organization will execute the research process.  Decide who will conduct your research. Some organizations conduct the research internally with staff and other in-house resources. However, hiring a third-party consulting firm to collect research on their behalf is usually most beneficial for many nonprofits. Decide how you will execute your research. Nonprofits gather data through various efforts, including surveys and focus groups.  Modernize your data. Download this association trends guide aims to help association executives harness modern data programs and effective presentation strategies to provide the critical insights their members increasingly rely on. Get the Benefits of Member Research at Vault Conducting member research is a powerful first step toward helping your nonprofit thrive—but it’s only the beginning. At Vault Consulting, we tailor our research services to align with your goals and equip you with the tools to turn data into actionable insights. Contact us today to learn more about how our professional research services can support your nonprofit’s success!