4. No, I've never
noticed, 16%
Yes, there are, but
they NEVER pose
challenges, 12%
Yes, they
SOMETIME
S/OFTEN
pose
challenges,
72%
Neil Howe & Reena Nadler, WHY GENERATIONS MATTER: Ten Findings from LifeCourse
Research on the Workforce, Feb 28, 2012
5. "I see no hope for the future of
our people if they are
dependent on the frivolous
youth of today, for they are
reckless beyond words. When I
was young, we were taught to
be discreet, respectful of elders,
but the present youth are
exceedingly disrespectful and
impatient.“
– Socrates, c. 400 BC
Image credit: marzolino / 123RF Stock Photo
6. •Open-minded, expert
•Sentimental
•Value due process
•Children of Nomad
•Children in Crisis
•Principled, creative
•Ruthless, narcissistic
•Value vision, values
•Children of Hero
•Children in High
•Rational, Competent
•Unreflective, bold
•Value community
•Children of Prophet
•Elder in Awakening
•Pragmatic
•Cynical
•Value liberty, survival
•Children of Artist
•Children in
Awakening
Nomad Hero
ArtistProphet
9. Hero: GI (1901-1924), Millennial
(1981-2004)
Artist: Silent (1925-1942), Homeland
(2005-Present)
Prophet: Baby Boom (1943-1960)
Nomad: Generation X (1961-1980)
10. 16,000
17,000
18,000
19,000
20,000
21,000
22,000
23,000
24,000
Under
5 years
5 to 9
years
10 to
14
years
15 to
19
years
20 to
24
years
25 to
29
years
30 to
34
years
35 to
39
years
40 to
44
years
45 to
49
years
50 to
54
years
55 to
59
years
60 to
64
years
65 to
74
years
75 to
84
years
85
years
and
over
Baby Boomers
81 million
Generation X
61 million
Millennials
85 million
Homeland
41 million
Silent & GI
58 million
11. World Economic Forum, Stimulating Economies Through Tenant Mobility, 2010
Shortage
Equilibrium
Surplus
12. Be Prepared for a More Diverse
Workforce and Customer Base
72% 65% 58%
48%
39% 36% 32% 30%
9%
14% 20%
29%
36% 39% 42% 44%
19% 18% 18% 17% 17% 17% 17% 17%
3% 3%
7% 7% 8% 9% 10%
1970 1980 1990 2000 2010 2020 2030 2040
White Hispanic Black Other
Source: HGAC Demographic Model
Millions
13. 200
250
300
350
400
450
1970 1980 1990 2000 2010 2020 2030 2040 2050
Millions
Immigrants and
Descendants
since 1970
Growth from Descendants
Of 1970 Residents
Source: US Bureau of the Census, SUSPS Overview, http://www.susps.org/overview/numbers.html
70% of US Growth
1990 – 2050 will be
From immigrants since 1970
17. Protecting through involvement
What’s best for the GROUP of children
Giving children what they need to be
successful
Aspirational – you can do anything!
Everybody wins
Adapted from Frank N. Magid Associates, The Pluralist Generation, 2012
18. I trust Mom &
Dad
Mom & Dad
always give me
good advice
I listen to Mom
& Dad
Boss reminds of
Mom & Dad
I’ll listen to
Boss
Adapted from Nicole Lipkin and April Perrymore, Y in the Workplace: Managing the "Me
First" Generation, 2010
21. $0.15
$0.26
$0.28
$- $0.05 $0.10 $0.15 $0.20 $0.25 $0.30
Wage
Shredded Ignored Acknowledged
Dan Ariely, Emir Kamenica and Drazen Prelec (2008), “Man’s Search for Meaning: The Case
of Legos.” Journal of Economic Behavior and Organization. Vol. 67: 671-677.
22. Authority – How to be an authority to older
customers
Communications competence – talk on the phone
Endurance – stick with the program long enough to
be successful
Social Networking – how to leverage your social
network for business, and how to do old-school in
person networking
23. • 15% of managers already
are Millennials
• 25% of Baby Boomers say
they will never retire
• Extension of careers
beyond traditional
retirement age will have
same impact as women
entering the workforce
did
Image credit: michaeljung / 123RF Stock Photo
24. Help the client identify explicit need
Let the client know you understand the need
Bring focus on how your solution (you) solves
the need
ASK FOR THE BUSINESS
25. 5% 80% 10% 5%
Successful sales professionals put their main
effort here.
PRELIMINARIES
INVESTIGATING
DEMONSTRATING
CAPABILITIES
OBTAINING
COMMITMENT
29. Type of Objection Example Where it Comes From Answers
“Now is not agood time.” Short on time or prospect doesn't see value or benefit. When is agood time? If no good time ask when not to call.
“Too soon; 3 years left on my lease.” Prospect doesn't see the value or benefit.
Qualify prospect size - satisfaction with current building.
For the right prospect, we can help now.
“Too busy.” Short on time or prospect doesn't see value or benefit.
When is agood time? If no good time ask when not to call.
Ask if they have concerns to address so you are prepared
for the meeting.
“Call me back…” Unanswered obejction.
When is agood time? If no good time ask when not to call.
Ask if they have concerns to address so you are prepared
for the meeting.
“Get to the point.” Short on time; or you may be waffling.
Give quick summary of benefits and ask for an appt for
more detail.
“How longwill it take?” Unanswered obejction.
Set ashort period of time and give quick summary of
benefits. Ask if they have any concerns about space, etc.
“Waste of time.” Prospect doesn't see the value or benefit.
Ask if they want abenefit that you are offering, give them
some case studies detailingbenefit.
“I already have abroker.” Prospect has abroker or doesn't trust you.
Who is it? What are they doing? Why did you select this
broker? When was the last time you talked with them?
“I handle the lease myself.” Doesn't understand value or hidinganother objection.
What are you doingto renew the lease? Educate the
prospect, offer to team up.
“I’m talkingwith other brokers.” Prospect has abroker or doesn't trust you.
When are you lookingto make adecision? What criteria
are you using? Do they have experience in this area?
What other concerns do you have that need to be
addressed?
“I have family/afriend in the business.” Prospect doesn't trust you.
What kind of real estate do they practice?When was the
last time you talked with them about this? Can we work
with them?Offer areferral fee.
“I always use the same guy/you’re not as good as my
guy/etc”
Doesn't trust you or doesn't understand value, also may
have been introduced to another broker by atrusted
advisor.
Offer asecond opinion, see if you can offer increased
service level, ask what they like about the broker and why
they selected them.
“My broker reimburses fees.”
Existingbroker probably reimburses fees, or someone has
proposed fee sharing.
You may have to consider it for the right prospect --
discuss with management before agreeingto any fee split.
Instead focus on our value over competitors, and consider
Noteson Objections
TimeCompetition
1Q2011 Brainstorming Seminar
33. 46%
36%
32%
0%
10%
20%
30%
40%
50%
Boomer Gen X Millennial
Percentage who DISAGREE: "I believe in
working only so long as it adds value for the
client or customer. Working harder or longer
is pointless."
Neil Howe & Reena Nadler, WHY GENERATIONS MATTER: Ten Findings from LifeCourse
Research on the Workforce, Feb 28, 2012
36. • Younger advisors
managed on average $8
million more than
advisors over age 50
• Younger advisors receive
3x more referrals than
older advisors
Image credit: ilona75 / 123RF Stock Photo</a>
37. Introduce two other connectors
Introduce two people with an idea in mind
Have a dinner of interesting people
Follow up
Re-establish contact
Show up
Interview people
Produce something of value
Time
Image credit: Ratchanida Thippayos / 123RF Stock
Photo
James Altrucher, Become a SuperConnector, October 2011
38. Be brutally honest in the interview
Don’t hire them if you sense a whiff of entitlement
Do a hunger check
Everyone announces themselves in the interview
Shake them up a little
When you find the good ones, help them move up – even if that means losing them
Lesley Jane Seymour, How I Hire: 6 Ways I Find and Hire Hardworking Millennials, Sept 24,
2103
39. 22%
21%
10%
-41%
-41%
-48%
-65%
-25%
-37%
-80% -60% -40% -20% 0% 20% 40%
Profitability
Productivity
Customer
Quality (Defects)
Patient Safety Incidents
Safety Incidents
Low-Turnover Orgs
High-Turnover Orgs.
Absenteeism
Gallup, State of the American Workforce: Employment Engagement Insights for US Business
Leaders, 2013
I see no hope for the future of our people if they are dependent on the frivolous youth of today, for they are reckless beyond words. When I was young, we were taught to be discreet, respectful of elders, but the present youth are exceedingly disrespectful and impatient.“ – Socrates, 400 BC
Preparation is the key to overcoming call reluctance. We discussed their fears over the phone. I worked with them to develop scripts and we role-played calls. Some of them were a little rough, but I wanted them to think that those practice calls were worse than anything they would encounter in real life, and they survived. We had a session with our best senior caller and each young broker listed the objections they found challenging and we made a chart for each one to put by the phone in their office.
The second explanation is that they have a dramatically different view of time. As Cam Marston says in Managing the What’s in it for Me Workforce:
To the Boomers and Matures, time was something they had to invest in their careers. They became workaholics because they invested their extra time back into their work. To them, time is/was cheap, and giving it back to an employer through long hours of work was expected. To Gen Xers and New Milliennials, time is expensive and needs to be controlled as closely and tightly as money itself. Time has become a very real currency, just like dollars themselves, and giving control of it to the workplace is definitely not a part of a plan to become successful.
When I look at my own kids, and how overscheduled they are today and know that the millennials grew up in that same environment, I can appreciate how they value control of their time.
Richard Sweeney, Millennial Behaviors & Demographics, New Jersey Institute of Technology, December 22, 2006
Millennials prefer to keep their time and commitments flexible longer in order to take advantage of better options; they also expect other people and institutions to give them more flexibility. They want to “time and place shift” their services, to have them where and when they are ready. They want more granularity in the services so they can be interrupted and finish when they are ready without any loss or productivity.
We measured calls, meetings, and revenue per transaction. Over the course of a year, we found our trainees were 6,000 calls short of their targets – only about 15 calls per week per associate short.
We were able to show that the short fall – 15 calls per week – based on call to meeting ratios, deal closing ratios and average commissions – resulted in $250,000 in lost opportunities.
This is the kind of data we started integrating into our onboarding materials. Although this shortfall represented a small percentage of the company’s revenue, it should have represented about $20,000 per new agent – a significant amount for trainees who worked on straight commission.
Gallup surveys revealed that slightly more than one-third of non-executives and non-managers strongly agreed that they understand their company’s brand promise and brand differentiation – and these are the employees who likely interact with customers every day.