Acri Community Realty Releases Study on Generational Impact on Community Management Styles
By understanding “who lives in the neighborhood” management companies need to adjust management styles to match all members within the community. Appreciating the generational values of the Home Owners within the Association contributes to a strong community. Consider a few broad groups:
The Matures were born between 1920 and 1945. The last of the veterans of the World and Korean Wars, and are also called the “Silent Generation.” Matures are about sacrifice and survived the Great Depression. Hero’s were military figures and Matures believe that a rule is a rule. The Matures defined the world in which we lived for many years, but now have given way to the Baby Boomers.
Baby Boomers were born between 1945 and 1964. Approximately 77 million in number, boomers are workaholics who believe in teamwork, democracy, and loyalty. Some do not see it is necessarily important to follow rules. Baby Boomers value the concept of “built to last.” Inventing the idea of “meaningful work,” the workplace continues to be a part of the Boomers’ self-identity. Baby Boomers will occupy the White House until approximately 2030.
Generation X’ers were born between 1965 and 1977. Numbering about 44 million, this group was raised in an environment in which both parents worked. X’ers question parental values, and believe that jobs and housing are disposable. A greater value is placed on family and personal life than the Boomers do, and consider that a balanced life is more important than professional accomplishments.
Generation Y’s were born between 1977 and 2000. Compromising approximately 33 percent of the U.S. population, projections suggest that by the year 2010, those ages between 33 and younger will number 137 million, or 46 percent of the U.S. population. People in this group have always known the Internet, laptops, and cell phones. It would never occur to them to physically touch a television to change the channel. People born in the U.S. after 1983 have always had a President from the Southern states. Cars have always had CD players and air bags, weather reports have always been available 24 hours a day, and genetic testing and DNA screening have always been available. This generation focuses on its individual choices, goals, and the future.
Generation Z’s or “Plurals” were born between 2000 and today. Many believe Generation Z may also encompass some earlier years based on the age of the parents. Some studies suggest Gen Z may begin as early as 1994. Many members of this generation are highly connected, having had lifelong use of communication and media technology like the World Wide Web, instant messaging, text messaging, MP3 players, and mobile phones, earning them the nickname “digital natives”. According to marketing firm Frank Magid Associates, the name “Plurals” reflects that they are the most diverse of any generation in the U.S.; Magid estimates that 55% are Caucasian, 24% are Hispanic, 14% are African-American, 4% are Asian, and 4% are mixed race or other. A Magid whitepaper stated that Plurals exhibit positive feelings about the increasing ethnic diversity in the U.S., and are more likely than older generations to have social circles that include people from different ethnic groups, races and religions. Gen Z’ers are least likely to believe that there is such a thing as the “American Dream”, while Boomers and Gen Y’s children are more likely to believe it.
Rinaldo Acri Says”The best management companies will incorporate ways to communicate to embrace all Generations in the community. Firms must use printed mailing, email, community websites as well as Social Media outlets to reach the most people. Gone are the days of simply sending out a letter. Implementing all types of communication channels ensures that no one gets left out no matter what generation they belong to.”