Guidelines in the Selection of an Association Management Company (AMC)
1. | Select an Association Management Company (AMC) on the basis of more than the written proposal. A visit to the candidates' offices should be conducted by one or more members of the search committee, if possible. A good cultural fit between your organization and the AMC is critical. | |
2. | Select the AMC candidate by reviewing the proposal and contacting the references provided to you. The officers and committee chairs of an association that has been utilizing the services of an AMC are excellent resources for you. Evaluate each candidate based on information such as:
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3. | Once you have selected your top two or three finalists, schedule the face-to-face presentations on the same day, in a central location. Allow sufficient time in-between presentations for discussion among the search committee about each presentation while it is fresh in your mind. Make written notes. | |
4. | A minimum of 2 hours should be allotted for each presentation. Allow each candidate to select the format of their presentation (i.e. formal PowerPoint), this will tell you a lot about the AMC. Ask each candidate the same set of questions; provide them in advance if possible so that each AMC can come prepared to respond. | |
5. | At the conclusion of each presentation, be sure to explain your decision making process to each presenting company. Identify the date when you expect to have a final determination. | |
6. | Make your final decision based on a predetermined set of criteria. Know in advance the top three qualifications your association is seeking from a new management firm. Selecting an AMC is not as easy as buying a new car. Although most AMC’s offer similar services, they all differ in their management approach, pricing models, and business philosophy. | |
7. | Don’t be afraid to contact candidates to ask clarifying questions following the presentation, if necessary. The AMC will be pleased to provide further clarification or additional information required for the Search Committee to make a decision. | |
8. | Be sure that your final decision is communicated to each company promptly on the day that you indicated. Each company has invested time, energy, and resources to present its qualifications and capability to you and deserves to know the final outcome in a timely manner. | |
9. | Many AMC’s ask for post presentation feedback from members of the Search Committee. It is recommended that you accommodate this request if at all possible. Understanding why an AMC was not selected allows the firm to improve for future business opportunities. | |
10. | Once you have signed a management agreement with your new association management company, share the good news with your members immediately. Your members need to know why a change was made and the positive impact it will have on the overall association. Ask the AMC to pen a brief article for your next newsletter introducing your new Headquarters Team. |