Editor's note: Generational differences in today’s real estate organizations have created friction and organizational disconnect that have negatively impacted business efforts. In this four-part series, Management Central uncovers the secrets to managing the different generations, to promote and nurture successful, generational diverse organizations.
You don’t have to look very far these days for a story or an article on “Baby Boomers,” “Gen Xers” or one of the other two American generations. On topics ranging from workforce management, to Social Security, to community development, organizations across the Country have recognized the value of identifying these established age cohorts, as well the value of understanding the mission-critical information that can be learned from their generationally rooted values and preferences.
Nowhere is this value more established than in our workplaces where, for the first time in our Nation’s history, there are four (4) distinct and identifiable generations working side by side, and not always in perfect harmony. This article, on the effective management of Generation X real estate professionals, is the first in a 4-part series that will focus on the best practices for managing each of the different generations in the real estate labor force. These articles will not only promote an ongoing discussion about generational differences in real estate but will, furthermore, arm you with strategies and techniques that you can immediately use to manage, lead, train and motivate your people, no matter what generation they belong to. If for no other reason than because I am, myself, a Generation Xer, we will begin with effective practices for managing Gen Xers; a group whom, few would argue, have rarely “gone first” in just about anything.
Xer Facts. First things first: the facts. Although there are a number of different definitions, the most accurate defines Generation X as being born between 1965 and 1976. According to this definition then, Gen Xers are, at present, between the ages of 29 and 40. Yes, that’s correct: there is now such thing as a 40 year old Xer.
There are roughly 48 million Xers in the
Xers make up almost 1 in 3 employees in the labor force, in
Xer Core Characteristics. The key to managing Xers, or any generation for that matter, is understanding their generationally rooted values and preferences; that is, their core characteristics. In the same way that knowing and understanding real estate consumers allows us to serve them better, knowing your Xer professionals’ generationally-driven attitudes, values, demands and preferences will allow you to manage, train, motivate and lead them more effectively.
To better understand your Xer professional, consider, for a moment, the following list of seminal events in the lives of Xers:
¨ 1970’s – 1980’s – the development of personal computers
¨ 1979 – the
¨ 1979 – the
¨ 1981 – the attempted assassination of President Reagan
¨ 1982 – the Tylenol cyanide murders
¨ 1980’s – mass layoffs and corporate “downsizing”
¨ 1986 – the space shuttle Challenger disaster
Consider also Figure 2 below that reflects the American divorce rate during the formative years of most Xers. Note that during the time in which most Xers we coming of age (shown as “A” in Figure 2), Americans were embracing divorce and the end of marriage at an unprecedented rate.
These events and trends are of more than historical interest; they drive who Xer real estate professionals are today and how they act and react in your organization. Understanding the effects of these events and trends, then, is the key to understanding and managing your Xer professional.
Fierce
To better understand how the latch-key effect drives Xer independence and impacts your management efforts today, consider a recent Hewlett Packard television commercial aimed at Xers featuring digital cameras and printers. As a song by the 80’s band “The Cure” plays in the background, the commercial suggests that, by using HP products, the Xer consumer can be the photographer, the editor and the photo lab. Left unsaid but inferred is the main message: you, Xer, don’t need anybody else for taking and making pictures (or for anything for that matter)! What HP understands, and what real estate managers must understand, is that there is no inherent “bad attitude” pervading the Xer ranks; they simply believe – based on years of experience – that they can do pretty much anything on their own.
The Bottom Line. Another core characteristic of today’s Xer real estate professional is what I call the BLA, or the Bottom Line Attitude. The BLA is well known to most real estate managers. It pervades many real estate organizations and creates instant conflict with Baby Boomer managers who seek to impart wisdom and experience through Boomer-centric management tactics. The setup is unfair, but real, as Boomer managers who are generationally driven towards “experience management” constantly swim upstream trying to manage, train, and lead Xers who simply want the bottom line, and who grow tired and impatient when faced with these experience-based management efforts. If you’ve ever grown frustrated in this environment wondering why your Xer professional “doesn’t listen,” “thinks he knows everything,” or “isn’t interested in learning” than you, too, have experienced the BLA.
Multitasking. Another important characteristic that real estate managers should be aware of is the Xer propensity for multitasking, a characteristic often misperceived as an inability to focus. Along with the youngest generation (Millenials), Xers are prolific multi-taskers, who constantly work on a number of tasks simultaneously. While it may appear to you that your Xer professional “isn’t paying attention,” most often they’re working on other things while you’re trying to manage them. While Xers are, admittedly, sometimes less than socially adept in this manner, managers would do well by not only accommodating this attitude, but by using the multitasking skills that Xers have to offer.
Change Agents. It should not surprise you to learn that one of the most useful workplace characteristics of Xers is their ability to handle change. Consider two of the items on the list above of seminal events in the lives of Xers: (1) unprecedented divorce rates; and, (2) mass corporate layoffs and downsizing. Most Xers came of age during a time of tremendous change, in their homes where it was felt the most. For many, there was a change in family structure. For many others, there was constant instability in family finances and occupations.
It is no coincidence, then, that today’s Xer real estate professionals are unfazed by change. In truth, many are most comfortable in environments that others view as unstable. Organizations can benefit greatly from this Xer trait by turning to Xers in times of organizational change for a stable soldier in turbulent times.
Technoliteracy. The last Xer core characteristic that real estate mangers should be aware of is Xer technoliteracy; i.e., their comfort with technology. Xers are the first generation to come of age in the personal computer era. They are, as a result, tremendously adept at using technology and, perhaps more importantly, turned off by management efforts that fail to use it. Although more than an occasional Xer has been known to fail in the patience department on technology training and “playing well with others,” the truth is that Xer technoliteracy is an organizational asset that should not be ignored. Harnessing the power of this asset can lead to increased productivity and profitability for the Xer- empowered organization.
Xer Management Solutions. Which brings us to the all important WIIFY (what’s in it for you) of this article, as well as the articles that will follow: So what do we do with all of this great information? How can we use what we know about Xers to better manage, train, lead and motivate them, to the collective benefit of our real estate organizations?
There are, in fact, a number of solutions you can and should embrace now to help manage your Xer real estate professionals. I recommend the following five (5) immediately actionable solutions:
1. Reject the stereotypes. As with most stereotypes, those regarding Xers are not helpful and inaccurate. If we accept that Xers are “lazy slackers” who can’t (or won’t) focus on helping their organization succeed, we will fail to realize and harness the tremendous benefits that Xers can provide. Stay away from sterotypes; they’re simply not helpful.
2. Embrace the realities. Manage your Xer professionals by embracing the reality that Xers can and will help you and your organization, just not in the
