When Loyd and I met last, we discussed Millennials and Boomers on a quick puddle jumper as best we could over the loud engines.
As a refresher, over the last couple of months, Loyd and I have focused our discussions on overcoming generational differences in the workplace. In December, we discussed influences responsible for shaping generational perspectives. January’s discussion was geared towards advice to Boomers about Millennials, and February focused on advice to Millennials about Boomers.
Today we are meeting at the rental car terminal on our way to meet with a client on this very topic. Our client is experiencing tension in the workplace between what the client is referring to as “old school” and “new school” ways of thinking. Over the last couple of months, our client has fielded multiple meetings on the topic. Frustrated and noticing a dip in productivity and team morale, he called us in to quickly “nip this thing in the bud.”
Once we found ourselves to the rental car and got our wits about us, Loyd asked: “So as we are driving towards what could be an emotional mess, how are you thinking of approaching the perspectives of “old” and “new” school thinker/team members?
Well Loyd, I started; you and I have had rich dialogue on how both Millennials and Boomers could expand their thinking about the other. What I would add to those discussions would be something to the tune of….
Probably nothing, unless you plan to die soon! I happened to be with a client with whom I have worked since 1991, on the day President Trump was elected. That led us to examine the political climate over the past 26 years. We reminded ourselves that the 1980’s had been a Republican era (but Democrats had controlled at least one house of Congress). However, in 1992, President Clinton lead a Democratic sweep of the Congress. In 2000, President George W. Bush lead a Republican sweep followed by 2008, with President Obama sweeping the Democrats back into office, followed by the latest sweep by the Republicans under President Trump. Our country has been on a political roller coaster ride for the last three decades!
For the last couple of month’s Loyd and I have been discussing generational differences and how to overcome issues they often create in the workplace. Loyd initially posed the question to me in December, but since this was such a big topic, we decided to break up the conversation into a 4-part series; tackling one topic at a time.
In December, Loyd and I discussed outside influences responsible for shaping generational perspectives on areas such as work-ethic, communication and technology. And in January, Loyd geared the discussion towards what advice would I give to Boomers and Millennials. So, as I sit here in the airport waiting for Loyd to meet me for our connecting flight; I am pondering what could be Loyd's next question.
Loyd walks up, we say our hello’s, board the plane and as soon as we get to 10,000 feet, Loyd gets right to it. “Say Doc, not a lot of time on this puddle jumper, so let’s move on with this discussion on generational issues. Last month we focused on advice to Boomers about Millennials, so what insight do you have for Millennials working with Boomers?
The last time Loyd and I were together, Loyd posed a question in regards to Overcoming Generational Issues Impacting Teamwork - “How do privately held businesses overcome the generational issues that have a direct impact on teamwork and business performance?” Loyd can never just ask a simple question. ”
Knowing that we could not answer this in one sit-down and one glass of wine, we decided to tackle the topic in a four-part series focused on:
We have looked at sibling partnerships under stress, my perspective on the impact gender has on leadership and teamwork, and my thoughts on gender bias in the workplace. In this installment, I have mixed it up just a little, thanks to my buddy Loyd, who felt it would be a good idea to bring the “generation” conversation to the table. His question to me was, “How do privately held businesses overcome the generational issues that have a direct impact on teamwork and business performance?”
Knowing that I could not answer this in one sit-down and one glass of wine, this four-part series will focus on:
“But I love all my kids equally and I want to treat them fairly!” exclaimed Ted, the exasperated business owner who was trying to figure out his estate plan. This sentiment is voiced over and over by my dealer clients leading to many discussions on ‘why equal is not fair’! It’s easy to relate to this concern as most of us have experienced what I call ‘the Christmas/Hanukkah Syndrome’. “Let’s see, I have 3 gifts for John, but only 2 for Hannah, but the 2 for Hannah cost more than the 3 for John – how do I make this work?”
Picking up where we left off from my last post….
In typical Loyd fashion, just before hanging up from our phone conversation focused on Gender’s Impact on Leadership and Teamwork, he left me with a zinger - “What if siblings in business are not willing to recognize each other’s contributions to build a strong partnership?” After working through the previous gender topics I was grateful to have a few days to think about his heavy question.
Sibling partnerships create a dynamic environment - especially when managing relationships in a highly competitive multi-unit franchisee organization. Everything can feel personal because nothing can be "just business."
Looking at how male vs. female psyche works, there is no doubt they are different. In fact, a popular analogy to describe these differences is “Men are like Waffles and Woman are like Spaghetti.” Coined by bestselling authors – Bill and Pam Farrel, their analogy provides imagery of how men create boundaries around issues and areas of life, where woman approach decision making and life like a plate of spaghetti – no defined boundaries and one issue can blend into another.
An owner's perspective about the purpose and who the business serves directly impacts culture, ability to recruit and retain good people, and drive performance - all of which influences customer perceptions, revenue, and profits. In the franchise industry, often times, multi-unit franchisees do not intuitively view themselves as a family business owner. This misperception can and does have an impact on overall business success, sustainability, and value
In a family-owned automobile business, the dealership and general business dynamics often become the center of family interaction. Read Amy's unique perspective on how to create boundaries between family and business from her experience as a family member employee in her family's business.
Known for offering up the truth of the matter, let’s get right to the point and address a trend that I am seeing more often than I would like. Gender bias in the workplace. Yup. I said it. It’s out there, and if you are reading this, then you have experienced it, have seen it, or perhaps are a participant in it. Regardless of where you stand, let’s take a look into how your business may intentionally or unintentionally be impacted.
Finding your role in a family-owned dealership can be a difficult task. Not everyone is cut out or may care to take on the responsibilities of Successor/Owner, so where do you fit?
Developing a successor is paramount to sustainable business success. It requires empowering your successor to step up to the challenge, while holding them accountable to strategic goals. For a period of time there are multiple hands on the baton. If this delicate transition is not done properly there can be a demotivating tug of war experience - you might run past the disqualification line before the hand off is complete, or even worse, drop the baton.
Being in the family business is no easy task. You are juggling expectations amongst your loved ones from two different spectrum – family and business– as well as preconceived notions from managers, employees and vendors that you are likely enabled, under-qualified, and of course, grew up with a silver spoon in your mouth. No matter your work ethic, passion, and drive for the business; all family member employees are fighting the nepotism stereotype.
You're a dealer nearing retirement, but the next generation of ownership has big (risky) plans for the business that put your retirement in jeopardy. There are family and business issues to resolve in this scenario. Learn more as Loyd Rawls and his alter-ego, Dr. Merlot, discuss how to navigate this vision conflict in a new article published in Automotive Buy Sell Report.
Do you have a vision for your business but are unsure how to get there, or feel like issues keep getting in the way? Jeff Bannon discusses the Succession Matrix as a tool to build business value and achieve your goals.
Your management team and family member employees should form the backbone of your business. Ideally, they know and live your values; they are in alignment with your goals; and they are your boots on the ground interacting with customers, employees, and vendors. At their best they optimize resources to achieve a high level of performance, and drive your business onward to future success. So what happens when your managers and family don’t work as a team, and how can you turn things around?
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