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Engaging the Multi-Generational Workforce

Discover the keys to engaging and empowering the multi-generational workforce in the commercial real estate industry. Learn how to break generational myths, harness the strengths of different generations, and create a supportive and inclusive work environment.

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Engaging the Multi-Generational Workforce

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  1. Engaging the Multi-Generational Workforce Gregory J. Fine, FASAE, CAE CEO/EVP CCIM Institute/CCIM Technologies, L.L.C. Commercial Leadership Development Day August 11, 2019

  2. We’re About “Associating” • Shared interest, cause, or need • Influence, access, and prestige • Knowledge/targeted information • Tangible services provider

  3. Associations = Winners • Association members: • Earn more • Are happier • Are leaders • Are winners

  4. CRE Generations Commercial real estate careers used to be passed from generation to generation.

  5. The New CRE Generations Some worry that Millennials and Generation Z won’t pursue a career in commercial real estate.

  6. The New CRE Generations Who will be the new generation of entrepreneurial, driven professionalsto power our industry in the coming years?

  7. Generational Myth 1 A generation is defined by age. (It’s not.) Generations share a unique, binding experience(s) and/or event(s).

  8. Generational Myth 2 It’s all about Millennials. (It’s not.)

  9. What It’s Really All About • The Rise of the Xers • The Size of the Millennials • The Power of the Zs

  10. Let’s Talk Generations • Silent Generation (1926 – 1945) Stable, Joiners, Doers • Boomers (1946 – 1964)Change the world, “Us”, Second career, Generational guilt • Generation X (1965 – 1980)Cynical, Deliberate connections, “Me”, Change the neighborhood • Millennials (1980 – 2000) – Largest GenerationConnected, “We”, Informal, Scheduled, Strong parental connections • Gamers (Gen Z) (2000 – )Uber-connected, Technological social interaction, Children of Gen X, HIGHLY DISRUPTIVE

  11. Generation Sizes 77 M 92 M 61 M

  12. One Size Doesn’t Fit All!

  13. Gen X (1965 – 1980) • Self-reliant/Independent • Practical/Pragmatic/Cynical • Accept diversity • Short time horizon • Immediate impact • Distrustful of bureaucracy and institutions – Boomer disconnect • Leadership abdication • Time is a precious resource • Balance is sought

  14. Millennials (1980 – 2000) • HUGE! • Self-inventive – recognition & fame • Optimistic/Realistic • Celebrate diversity – sameness yet unique • Technology is ubiquitous - continually connected • Teams are a way of life • Distrust of authority • Relevant impact • Super scheduled • “Hover” Parents/Engaged Bosses • Learn to fail • Consumption patterns appear different - DEBT!!!!!!! • Work/life Synergy

  15. Gamers – Gen Z (2000) • Digital natives • Entrepreneurial • Diverse • Blurry • Overwhelmed • Progressive • Individualistic • Look to Gen X for guidance • Empowered

  16. Here Come the Gamers… • “We don’t want a seat at the table, we want to flip the table over!” • Nadya Okamoto • June 2018 Millennials wanted the best seat at the table from the first day…… Nadya Okamoto and Vincent Forand Co-founded PERIOD as high school students in 2014

  17. Source: ULI/PwC Emerging Trends in Real Estate 2019

  18. So What Now? We need the workforce of the future.

  19. Action Plan To develop the workforce of the future… • Inclusion • Professional development • Recognition of complexity

  20. Executive Summit In 2020, CCIM Institute will convene a group of key influencers from top real estate firms to create an industry-wide action plan to address the workforce challenge.

  21. Your Support System We’re here to help you thrive and support real estate’s workforce of the future. www.ccim.com/aei

  22. A Final Thought Gregory J. Fine, FASAE, CAE CEO/EVP CCIM Institute/CCIM Technologies, L.L.C. gfine@ccim.com

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