DIVERSITY, equity & inclusion Bridging the generational gap with business development By Jon Hubbard, shareholder, Boomer Consulting
There are five generations in the workplace for the first time in history. People often view this situation as a negative—a conflict leaders must work around or manage. However, with a change in mindset, we can begin bridging the generational gap and use it as a strategic advantage in business development and growth.
5 generations in the workplace First, let's look at the five generations that make up the modern workforce, with characteristics of each according to the Society of Human Resource Management (SHRM). Remember that "generation" is just one layer of a person's identity, and understanding their age doesn't replace the need to understand someone individually. • Traditionalists/Silent Generation (born 1925 – 1945). Tend to follow the rules and believe change is necessary only when something is broken. Have respect for authority and a hierarchical system. Value seniority and job titles. • Baby Boomers (born 1946 – 1964). Like structure in organizations. They tend to challenge rules but are cautious about change. • Generation X (born 1965 – 1980). Tend to be flexible and see change as an opportunity. They are unimpressed by authority and expect their competence and skills to be respected. • Millennials (born 1981 – 2000). Have more fluid work styles. They expect to create rules and see change as equal to improvement. Respect authority figures once they've demonstrated competence. • Generation Z (born 2001 – 2020). Agile and seek balanced rules. They expect change as part of reality. They want to be engaged and will push back against one-way conversations with managers. If these descriptions resonate with you and the individuals in your company, remember the same is true in your clients' organizations. This is a demographic trait—not just in the accounting world. 8 | CPA Voice
Leveraging the generational gap The generational diversity in your firm can be used to its advantage when it comes to business development and growth. By highlighting the different generations in a firm, it is possible to show clients and prospects the depth and breadth of a team's skills, knowledge and experience. In other words, you demonstrate that your firm is a team of experts—not just one person. By acknowledging the strengths of each generation, you can also better leverage their collective knowledge and skills to meet client needs. For example, Traditionalists have had decades of experience in the profession, which can be used to build trust and add value to businesses. Baby Boomers are often the rainmakers in firms, actively involved in their communities with a knack for strategic thinking and problem-solving. Generation X is highly adaptable regarding technological changes and works well with diverse teams. Millennials bring fresh perspectives and new ideas, while Generation Z is highly tech-savvy.
Generational strengths in business development So what does this look like in practice? Here are a few ideas. • Take younger team members on client and prospect calls. Traditionalists and Baby Boomers tend to handle a lot of networking, business development and client relationship building for their firms. Starting today, commit to never attending another client meeting, sales call or networking event without a younger staff member. Bringing them along allows the next generation to learn firsthand from their more seasoned peers and observe how professional relationships are developed.
