Are there mostly young people on your board of directors? We thought not. Board seats are predominantly filled with baby boomers no matter what industry is studied. Associations need to be aware of potential difficulties in finding volunteers for those retiring business people. Recent statistics show that due to millions of boomers leaving the work world each year (“the aging tsunami”), as that wave hits retirement, few young people are ready to take their places leading industry associations. They are held back by mid-career and growing family demands that leave scant time for volunteer duties.
We suggest trying much earlier to identify potential board members. Perhaps the sons and daughters of the owners? Associations can also respond to this leadership vacuum by hiring association management companies that offer senior-level talent.