That is a question that most people planning for retirement will consider. In other words, “is my nest egg going to be big enough to support me into a ripe old age, especially if I suffer from a chronic medical condition?” I cannot answer that question for you, but I encourage you to consider that question both for your personal finances and for your Rotary club!
This weekend, in Rotary training conducted by Zone 33 leaders, I learned the following:
- On average, Rotary clubs lose about 15% of their members every year, for a variety of reasons.
- At a minimum, we need a ‘nest egg’ of 20-25 members to be a healthy Rotary club.
- Most Rotary clubs only replace 12% of members each year. That means we are ‘withdrawing’ 3% more of our nest egg every year than we are ‘earning’!
At that rate, how long will it take your club to dip below the healthy level of 20-25 members? These statistics were sobering for me. As a result, I’m working on a comprehensive membership initiative for my club. I’ll share the components in upcoming posts.
What are the most effective membership practices you have employed to increase your club membership?
3 thoughts on “Will I Outlive My Savings?”
I couldn’t agree more. Many club presidents don’t recognize the slow drip, drip of attrition. The Rotary Club of Oxford lost 13% of our members this year. That’s right on par with the district- and zone-wide average of 14%. Luckily (not really; it was planned), our attraction rate for new members was 23% giving a net plus of 10% for the year.