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In this article we will shift from
presenting new management concepts to introducing a new personality who is now
making their appearance on the real estate industry scene.
In increasing numbers members of Generation “X” are making their way
onto the management teams of many real estate brokerages.
Initial experiences suggest that the Generation “X” manger will
present a number of new opportunities and challenges to the real estate
industry. Generation “X” is the most
common term applied to those Americans born between 1965 and 1981.
Also called busters, because of the drop-off or “bust” in births
following the boomer generation, they are the children of dual-career parents
and of parents whose marriages produced record divorce rates.
While the boomer generation chose to luxuriate in the comforts of a
liberal arts college education, generation “X” students applied themselves
to business and economics programs. In
short they spurned the idealism that their parents found so attractive in their
youth and adopted a much more realistic approach to education and to life
itself. In order to fully appreciate how
the generation “X” manager is different one must first revisit the past two
generations of managers that have, for the most part, built the present day real
estate industry. During the
1950’s, 1960”s and 1970’s the industry was managed by members of the
“silent” or “civic” generation. This
group gained fame as the original “organization’ man.
Hopes were high and expectations were low for this group who assumed that
total dedication and loyalty the company was the key to future success.
Uniform dress codes were the rule of the day.
Information was something you earned to right to access as you climbed
the corporate ladder. Relationships
with both superiors and contemporaries were formal.
Whenever possible everything was going “oh so well”.
The generation “X” manager grew to reflect all of the values of the
post war economic boom. America’s next management team
came from the now infamous Baby Boomer Generation.
Born between 1945 and 1962, this group throughout its existence evolved
as a bridge between the old and the new ways of American business.
Part of the complex genesis of this transformation can be traced to
changes within the business community itself.
Business concepts as basic as competition and responsiveness were
revolutionized under the influence of technology and the global marketplace.
The quickening pace of business required new forms of organization and
communication and with then new management styles. One of the primary victims of this process was the
traditional concept of hierarchical based authority. Long mistrusted by the
Vietnam era boomer, authority lost much of its influence during this group’s
term of office. Countering this
movement was an increasing respect for the attributes of independence, a quality
encouraged by boomer era parents. An
incredible rise in the availability and accessibility of higher education
further feed these trends. From
this mixing bowl came a whole new breed of manager.
Less interested in being the boss and more interested in being a leader.
Less interested in standing at the top and more determined to lead the pack.
A tradition of obedience disappeared in a boomer dominated business world
where teamwork, participation and personal achievement represent the highest
values. Onto this scene comes today’s
generation “X” manager. Balance
is the keyword of this group. Balance
between personal lives and work. Balance
between personal achievement and family roles.
Not impressed with either the “workaholic” or “divorce” patterns
of their parents the “X’er” seems much more committed to an overall
quality of life, something the boomers only dreamed about. Yet at the same time this generation shows signs of being
focused and very production oriented. These
two extremes may create a more complex balancing act that originally
anticipated. The group wants work
to be interesting, a characteristic more common to long hours than rote tasks.
“X’ers” have less loyalty to any particular company than the boomer
and are likely to take the boomer originated concepts of independence to a whole
new level. Self-determination is a
very strong calling. The idea of
short-term sacrifices for long-term professional gains does match their ideas of
career management. Many believe that short-term satisfaction and achievement are
the only road to long term rewards and success. What then are the best techniques
to use when managing Generation “X” managers?
Interpersonal communications designed to assure them that they are in the
right place at the right time are very important. When this manager feels another brokerage within the
marketplace is moving ahead they will want to join them.
Matching rewards with expectations is more important than ever before.
Remember that balance is as important to this group as compensation was
to the boomers. This is not to suggest that compensation isn’t important
only that it is considered in a more balanced fashion. Keeping this manager in the loop relative to your business
plans and focus will pay big dividends. This
is not a player who is willing to work his or her way up the ladder to the
inside position. Expect to be
challenged constantly by the “X’er” manager.
You may have been the most successful broker in your community yesterday
but that will make little difference if you are not moving forward to tomorrow.
Remember that this is the original computer kid. Don’t use you technophobia as an excuse to remain in the
Dark Age. Failing to invest in
appropriate technology will quickly identify you as a broker who “doesn’t
get it”. Just as the real estate consumer is changing with each generation so will the real estate brokerage manager. Just as the civic and boomer generations made new and exciting contributions to the industry so will the “X’er” manage make their mark. It’s a time of innovation and creativity in the real estate business. The industry can anticipate great things from the newest members of the management team. |
