e-Tips

During a webinar I moderated on sustainable business development in April hosted by the Ark Group with a multi-generational panel consisting of representatives from both the client side and firms, we compiled a list of assets that Gen Xers and Gen Y/Millennials bring to business development teams.

Here’s our list. Perhaps it will give you some “ahas.”

MULTI-GENERATIONAL BUSINESS DEVELOPMENT ADVANTAGES

GEN X ASSETS

• Considerable expertise in their area
• Are peers of up and coming leaders and decision-makers on the client side
• Are positioned to have a realistic sense of the marketplace
• Have become hard workers (after  “entitled” and “slacker” labels in early career)
• Still use face-to-face communication
• Are more flexible and agile in work style than older generations
• Have greater acceptance of diversity; encouragement of more women in leadership and managerial positions

 GEN Y/MILLENNIAL ASSETS

• Typically ambitious; work hard for recognition and opportunity
• Eager learners
• Team players
• Have time to work long hours and cultivate relationships before family responsibilities
• Tech savvy; potential to be very productive
• More presentation and public speaking experience than other generations at the same age
• Better view of coming marketplace needs and alternative delivery modes
• Well traveled, cross-culturally aware

These factors represent an intersection of generational attributes and the progression that typically comes with age.  I’ll elaborate on a few.

Communication styles can be a source of tension in client relationships.   Clients like the fact that Gen Xers are still comfortable using face-to-face and phone communication. This thought is shared by Xers themselves as well as Boomers.

While Boomers have a reputation for being workaholics and Xers generally reject the work-centric lifestyle, as a generation they have turned out to be hard workers who expect team members to pull their weight and be rewarded on merit.  Nonetheless, they do want to define how and where they spend their time, similar to the Gen Ys.   

Gen Xers have been helping to shift the gender balance of power on the client side, which is slowly showing results on the service deliverer side as well through the purchasing process. There is growing support for women leaders and recognition of the advantages in the client relationship. More women than ever are making service purchasing decisions for their organizations. With the GenY/Millennials in decision-making roles, we can hope to see more gender-neutrality, leading to more productivity.

Networking is ingrained in many Gen Yers, whether done electronically or in person. Add business development coaching and training to their ambition, and networking expands tremendously their touch point opportunities. And their considerable travel experience for their age and attraction to diversity of all types provides them with global sophistication of great value to business success today and in the future.

Gen Yers are also savvy consumers who tend to be aware of fast-changing marketplace needs. They network with young entrepreneurs and follow the trends on Facebook and on the newest social media sites.

The above advantages make a good case for involving the younger generations in marketing and business development earlier in their careers than in the past. It’s a benefit for firms and for individual career success. Multi-generational teams add strength now and prepare for sustainable client relationships for the long term.

Please send your thoughts on these observations to me at pwhaserot@pdcounsel.com or comment on www.nextgeneration-nextdestination.com. What has caused you to question or think about observed practices and behaviors differently?

Phyllis

©  Phyllis Weiss Haserot, 2011.