If You Can’t Be with the One You Love, Love the One You’re With

Strategies for a Multigenerational Workplace

Baby Boomer, 1943-1960

Generation X, 1961-1981

Millennials, 1982-2004

“In my organization, there are real differences between older and younger generations and how they approach work.”

No, I've never noticed; 16%

Yes, there are, but they NEVER pose challenges; 12%

Yes, they SOMETIMES/OFTEN pose

challenges; 72%

Neil Howe & Reena Nadler, WHY GENERATIONS MATTER: Ten Findings from LifeCourse Research on the Workforce, Feb 28, 2012

"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

NomadWashington

HeroJefferson

ArtistT Roosevelt

ProphetLincoln

Life Stage + Turning = Generation Type

•Childhood•Young Adulthood

•Middle Age•Elderhood

•High•Awakening•Unraveling•Crisis

Current Living Generations

•Hero: GI (1901-1924), Millennial (1981-2004)

•Artist: Silent (1925-1942), Homeland (2005-Present)

•Prophet: Baby Boom (1943-1960)•Nomad: Generation X (1961-1980)

WHY YOU SHOULD CARE

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

Baby Boomers81 million

Generation X61 million

Millennials85 million

Most Developed Countries Have Labor Shortages by 2020

World Economic Forum, Stimulating Economies Through Tenant Mobility, 2010

ShortageEquilibriumSurplus

Be Prepared for a More Diverse Workforce and Customer Base

1970 1980 1990 2000 2010 2020 2030 2040

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%

White Hispanic Black OtherSource: HGAC Demographic Model

Mill

ions

15%Percentage of Marriages in 2010

That Were Interracial

Hope Yen, Interracial Marriage In The U.S. Climbs To New High, Study Finds, Huffington Post, Feb 16, 2012, http://www.huffingtonpost.com/2012/02/16/interracial-marriage-in-us_n_1281229.html

Cumulative US College Degree Gap in Favor of Women, 1982 - 2013

US Department of Education, Digest of Educational Statistics, Table 283. Degrees conferred by degree-granting institutions, by level of degree and sex of student: Selected years, 1869-70 through 2020-21, 2011

19821983

19841985

19861987

19881989

19901991

19921993

19941995

19961997

19981999

20002001

20022003

20042005

20062007

20082009

20102011

20122013

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

10,000,000

Bachelor’s Degrees:4.3 million

All Degrees:9.1 million

Projected US Population Growth If Immigration and Fertility Do Not

Change

1970 1980 1990 2000 2010 2020 2030 2040 2050200,000,000

250,000,000

300,000,000

350,000,000

400,000,000

450,000,000

Immigrants and Descendants

since 1970

Growth from DescendantsOf 1970 Residents

Source: US Bureau of the Census, SUSPS Overview, http://www.susps.org/overview/numbers.html

MILLENNIALS

Hero Generation

•Selfless, rational, competent•Unreflective, mechanistic, overbold•Community, affluence, technology•Children of Prophet Generation•Young adult in Crisis, Elders in Awakening•Thomas Jefferson, John Kennedy, Walt Disney, Ronald Reagan, Mark Zuckerburg

•Millennial (1982-2004), GI (1901-1924)

•Hero Generation•Born 1983 – 2004•Politics: Clinton-Lewinsky, No Child Left Behind, relatively stable political culture, 9/11, War on Terror

•Society: helicopter parents, every body gets a ribbon, zero tolerance, social media, diversity, self-esteem

•Business: Technology bubble, start-ups, Facebook, Google, Apple, Netflix

•Culture: focused on technology, celebrity sex tapes, “famous for being famous”, sharing

Total Non-Farm Payroll, Bureau of Labor Statistics, May 2013F-48 F-52 F-56 F-60 F-64 F-68 F-72 F-76 F-80 F-84 F-88 F-92 F-96 F-00 F-04 F-08 F-120

40,000

80,000

120,000

160,000

4.5 M Boomers/yearenter economy w/ 50M jobs

4.5 M Millennials/yearenter economy w/ 130M jobs

Baby Boomer Parenting Gen X Parenting

Protecting through involvement

Protecting through surveillance

What’s best for the GROUP of children

What’s best for MY child

Giving children what they need to be successful

Teaching children how to be successful

Aspirations – you can do anything

Realistic – do what you are good at

Everybody wins Only the best win

WORKING WITH MILLENIALS

70%Percentage of Millennials Planning

to Change Jobs When Economy Improves

UNC Kenan-Flagler Business School, The Force of Gen Y, June 28, 2012, http://under30ceo.com/infographic-the-who-how-and-why-of-leading-gen-y/

98%Percentage of Millennials Who Believe Mentorship is a Key to

Career Success

PWC Global CEO Survey, 2011

What Every Employee Should Know

• Who are the customers or segments we serve?• What products and services do we provide?• With whom do we partner to deliver our products and services?• Who are our competitors, why are they a threat and what can we

learn from them?• How do we measure our success?• What is the history that affects our current strategy?• What external trends or issues are important to our strategy?• How does the organizational structure support our strategy?• What three things our group does to support the strategy?

Skill Development Plan

BROKER START DATE 11/2/2011

SKILL FAMILY SKILL SEQUENCE DATE (weeks) DATE RESOURCESTenant Representation Your Role 1 1 11/9/2011 Chapter 10, Tenant Representation, Successful Leasing and Selling of Office PropertyTenant Representation Getting Started 2 1 11/9/2011 Chapter 10, Tenant Representation, Successful Leasing and Selling of Office PropertyTenant Representation Using an Exclusive representative 3 1 11/9/2011 Chapter 10, Tenant Representation, Successful Leasing and Selling of Office PropertyTenant Representation Tenant Representation Agreements 4 1 11/9/2011 Chapter 10, Tenant Representation, Successful Leasing and Selling of Office PropertyTenant Representation Calculating Commissions 5 1 11/9/2011 Review with Scott DavisCompany capabilities NAI Houston 6 1 11/9/2011 NAI Houston placematsCompany capabilities Product Experience 7 1 11/9/2011 NAI Houston placematsCompany capabilities Transaction history 8 1 11/9/2011 NAI Houston placematsCompany capabilities NAI Global 9 1 11/9/2011 Watch NAI Global VideosCompany capabilities Arcadian 10 1 11/9/2011 Review Arcadian brochures, meeting with Mark KurtzEthics in Real Estate Ethical conduct in commercial real estate 11 1 11/9/2011 Watch NAR Videos on EthicsPhysical Aspects of Office Buildings Physical aspects of office buildings 12 1 11/9/2011 Chapter 1, Physical Aspects of Office Buildings, Successful Leasing and Selling of Office PropertyUsing CRM Principles of customer relationship management 13 2 11/16/2011 Wikipedia - CRMUsing CRM How to use the Vtiger program 14 2 11/16/2011 Vtiger Cheat SheetUsing CRM Scheduling follow ups 15 2 11/16/2011 Vtiger Cheat SheetUsing CRM Qualifying lead vs. prospect 16 2 11/16/2011 Chapter 6, Selling Skills, Successful Leasing and Selling of Office PropertyDocuments Rep letter or fee agreement 17 2 11/16/2011 NAI Houston rep agreementProspecting Identify prospect 18 2 11/16/2011 Chapter 6, Selling Skills, Successful Leasing and Selling of Office PropertyProspecting Locate contact info 19 2 11/16/2011 Chapter 6, Selling Skills, Successful Leasing and Selling of Office PropertyProspecting Calling 19 2 11/16/2011 Chapter 5 & 6, Successful Industrial Real Estate BrokerageProspecting Initial Contact Script/Pitch 20 2 11/16/2011 Chapter 6, Selling Skills, Successful Leasing and Selling of Office PropertySelling Skills Qualifying Tenants 21 2 11/16/2011 Chapter 6, Selling Skills, Successful Leasing and Selling of Office PropertyProspecting Qualification process (size, industry, lease term) 24 2 11/16/2011 Chapter 6, Selling Skills, Successful Leasing and Selling of Office PropertySelling Skills Answering Objections 24 2 11/16/2011 Sales Objections Dictionary, review Notes on ObjectionsMarketing Package Architectural, construction and relocation process 28 3 11/23/2011 Review tenant rep pitchbookMarketing Package Business terms/Negotiation process 29 3 11/23/2011 Review tenant rep pitchbookMarketing Package Contracts review and negotiation 30 3 11/23/2011 Review tenant rep pitchbookMarketing Package Data collection and analysis 31 3 11/23/2011 Review tenant rep pitchbookMarketing Package Lease life cycle management 32 3 11/23/2011 Review tenant rep pitchbookMarketing Package Leasing process 33 3 11/23/2011 Review tenant rep pitchbookMarketing Package Needs analysis and project planning 34 3 11/23/2011 Review tenant rep pitchbook

OFFICE TENANT REP SKILL DEVELOPMENT PLAN

Ignoring Work is the Same as Destroying It

Wage

$- $0.05 $0.10 $0.15 $0.20 $0.25 $0.30

$0.15

$0.26

$0.28

Shredded Ignored AcknowledgedDan Aracely

How Your Sales People Spend Their Time

CSO Insight, 2011

Sales call reluctance is the fear of self-promotion in professional sales.

Call Objections Worksheet

Type of Objection Example Where it Comes From Answers

“Now is not a good time.” Short on time or prospect doesn't see value or benefit. When is a good 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 a good 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 a good 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 long will it take?” Unanswered obejction.Set a short 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 a benefit that you are offering, give them

some case studies detailing benefit.

“I already have a broker.” Prospect has a broker 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 hiding another objection.What are you doing to renew the lease? Educate the

prospect, offer to team up.

“I’m talking with other brokers.” Prospect has a broker or doesn't trust you.

When are you looking to make a decision? 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/a friend 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 a referral 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 a trusted

advisor.

Offer a second 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.”Existing broker probably reimburses fees, or someone has

proposed fee sharing.

You may have to consider it for the right prospect --

discuss with management before agreeing to any fee split.

Instead focus on our value over competitors, and consider

performance benchmarks.

“I have a national contract.” Probably has a national contract. Who, What, How, Why, When

Notes on Objections

Tim

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1Q2011 Brainstorming Seminar

•Have a diversity-friendly workplace•Create personal relationships to encourage loyalty

•Connect the job to the company’s overall mission

•Set clear expectations for performance at onboarding

•Reinforce expectations during frequent evaluations

•MENTOR! MENTOR! MENTOR!•Provide continual training and assistance with business processes

You should feel the greatest satisfaction if one day your subordinate can do your job better than you ever did, not disparaging. For this is the ultimate in achievement …. The next generation must be more than ready to fill our shoes; they must be ready to run faster in them. -Lieutenant Col. Om Prakash, 87th Flying Training Squadron commander