The Great Demographic Divide - Or Disconnect

Yesterday, Joe and I gave a presentation to members of America's Community Bankers in Las Vegas about the divide that exists between Baby Boomers and Generation Y. The presentation discussed the differences in the needs, values and preferences of both generational segments - and framed up ways for the bank executives to think about attracting Gen Y customers and employees.

During the presentation, I realized that with this audience, there may be more than a demographic divide between them and the younger generations - instead, it's more like a complete disconnect. The audience was composed largely of Boomers who are directors, executives and senior managers at banks; and, most of them looked at me like I was speaking a foreign language when I made references to: blogs, podcasts, and social media websites. And, perhaps even more surprising was that not one person in the audience had heard of companies like Prosper, Mint or Virgin Money.

A friend of mine brought up a good point after I told him this: we're not talking about the future here - this is happening now. The divide (or disconnect) needs to be recognized, as it impacts us all.