January 2012

Today’s leasing teams face the challenge of effectively marketing and selling their products and services to four generations – Traditionalists, Baby Boomers, Gen Xers, and Gen Yers. It is important to tap into the values, expectations, and buying motivations of each generation in order to increase levels of customer engagement. The higher the level of customer engagement, the higher likelihood that the relationship leads to a lease!

It is amazing how different generations behave in terms of their buying motivations and their spending habits. Although every individual is unique, we can clearly see a generalization among age groups. History has played a major role in determining the different behaviors of each generation. Only the future will tell how successful our efforts to relate to each one are. It isn’t an easy task. How do you market and sell to these very different types of people? The first step is becoming familiar with each generation.

WHO ARE THE FOUR GENERATIONS?

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In writing this blog a strange memory returned … the scene in “The Wizard of Oz” when Dorothy’s dog Toto pulls the curtain back to reveal that the great Wizard of Oz is just an average man hiding behind an imposing image.

“Pay no attention to that man behind the curtain.”

“The great Oz has spoken,” said the Wizard in the 1939 classic movie.

Wait!  Is it true we’ve been led by a Wizard or two during our careers?

Perhaps, but the leaders that truly inspire others to greatness are more like Dorothy, the Scarecrow, the Tin Man and the Lion all fused together. This “Oz” type leader may be just what Generation Y is looking for!

The days of leading from behind the corporate title or curtain (door) are over.

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The Future Leaders…Generation “Why”

In Part II of The Workplace Shift, “Generation X Prepares to Take the Baton,” we discussed how the most difficult elements of Generation X’s past may provide them with the strongest capabilities as the “next-in-line” corporate leaders.

Both Generation Y and Gen X place a strong value on work-life balance. They don’t want work to define their life. This connection alone between the two generations may transform the workplace as we know it today.

Generation Y wants to work but how they work is very different from their parents’ generation.
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In Part 1 of The Workplace Shift, “Baby Boomers Prepare to Pass the Baton,” we discussed how the Boomer generation is once again redefining the workplace even as they prepare to pass their knowledge over to the next generation of leaders—Generation X. But here’s the big question:

Is Generation X prepared to take the baton?

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“Who cares that we have always done it that way!”

“He does not respect my experience”

“I can’t believe she wore that to work!”

“What do you mean I can’t work from home?!?”

Combining different generational mindsets into one workplace can be difficult. Generational diversity brings an array of experiences and perspectives to the office –  different backgrounds have an impact on the way generations respond to leadership and work with one another.

Conflict is a reality.

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