Practice Management
44
For Advisor Use Only
March/April
2014
When Saying What You Mean and Meaning
What You Say Isn’t Enough
ANGELA C. SARVER
The rest, according to research by Albert Mehrabian,
is conveyed through tone (38 percent) and nonverbal
cues (55 percent), such as facial expressions and posture.
So even if you say what you mean and mean what you
say, there’s a strong possibility that your message won’t
be interpreted correctly. Add in varying communication
styles and generational influences, and you have more
layers of complexity that impact your ability to
communicate effectively.
Many advisors work with clients and employees across
four generations:
•
Traditionalists, born between 1922 and 1945
•
Baby Boomers, born between 1946 and 1964
•
Generation X, born between 1965 and 1979
•
Generation Y or Millennials, born between
1980 and 2000
Each generation has its underlying values and characteristics,
all of which influence how its members communicate.
Consequently, whether you’re working with clients or
employees, you may benefit from some ideas for improving
communication and relationships.
Engage in Mentoring
Mentoring and reverse mentoring are effective ways to
facilitate open communication and share information.
Ask boomers to mentor younger employees to provide
context for their work. Older employees can also help
younger colleagues navigate the social and political
climates within an organization. By the same token, ask
millennials to mentor the seasoned veterans. They can
help acclimate staff to new technologies, which can lead
to more efficient processes for completing office tasks.
Reverse mentoring can also be effective with clients.
Encourage staff to work with clients by establishing
Investor360°
®
accounts, reviewing statements, and walking
through paperwork. Giving staff the opportunity to
establish personal relationships with clients will reinforce
your firm’s image as a team of professionals who work
together to help clients achieve their goals.
Tailor Your Training
Learning styles differ, so creating opportunities for staff to
learn in ways that work best for them is essential. Gen X
may prefer an independent learning environment, while
millennials may desire interactive online tutorials and
boomers like to use handbooks. Commonwealth offers
many training resources, including teleconferences,
e-learning modules, conferences, and manuals, in addition
to a vast array of information on COMMunity Link
®
.
Clients, too, have different learning preferences. Post-retirees
may prefer hands-on assistance, pre-retirees may want to
attend learning sessions, and younger clients will likely
seek online resources. Some clients learn best at home, while
others absorb new information better in more formal
settings. Developing learning opportunities appropriate
to different styles can freshen up the educational options
you offer clients.
Check Your Communication Method
Generational differences impact communication styles
because different technologies were prominent during
each group’s formative years. For example, a millennial
may be more likely to text you information, while a
boomer will phone you. Establish expectations around
how you will communicate with each other in the office,
so you’re on the same page regarding what’s acceptable
(e.g., calling in for an absence) or not acceptable (e.g.,
texting for an absence).
The same applies to clients. Be sure to coach employees
on how to best communicate with clients of different
generations. (Consult “Green Light, Yellow Light, Red Light:
Managing Communications with Younger Generations,”
p. 28, for details on compliant communication methods.)
Did you know that only 7 percent of
any message is conveyed through words?
5 Tips for Communicating Across Generations
1. Engage in mentoring.
2. Tailor your training.
3. Check your communication method.
4. Be flexible.
5. Know your employees and your clients.
