We would like to thank all members who took part in our online Member Survey in November 2018.
The survey set out to gather data on what members most value about IFoA membership, the challenges and issues members face, and what we could change or improve to deliver more value to members.
The survey was sent to all IFoA members, with 12% of our entire membership completing it - a response rate that compares favourably with similar organisations in the membership sector. The findings provide valuable insight into our members' views of the IFoA and membership, and a solid evidence base for further research.
The online survey is a central element of a programme of research the IFoA is undertaking to better understand and address members' concerns, especially around the value for money of IFoA membership and the perception of a rising regulatory burden. Having listened to your feedback and concerns, and putting our role as an organisation run by and for members at the centre of our strategic planning, IFoA Council set up a Steering Group in May 2018 that was tasked with undertaking research into our members' wants and needs, and to inform development of an IFoA Member Value Proposition (MVP).
An MVP is a brief, compelling description of the value of membership to members. Understanding what our members value will help us to ensure our strategic planning is aligned to the needs and wants of members. An IFoA MVP will provide a framework against which we can focus and assess new and existing IFoA activities and help to inform our future subscription pricing strategy.
We are currently undertaking the next phase of our MVP research. We are using the Member Survey findings as a basis for a programme of qualitative research, which includes focus groups and telephone interviews with members and employers across the world. The qualitative research will provide insight into why our members value elements of their membership and how they view the IFoA.
Once we have completed the qualitative research in May 2019, we will begin reporting the results of our member research through IFoA channels, including the IFoA website, e-newsletter and The Actuary magazine. Once the member research report has been delivered in early summer 2019, we will update members on Council's plans to deliver enhanced member value. If you have any questions about the Member Survey, or would like to take part in future member research, please email [email protected]