5 Points that Will Impact Customer Service, Sales, and Management in 2020

Kate Peterson , president of Performance Concepts, spoke at the AGTA Gem Fair in Tucson last month, about what we can expect in 2020 that will affect the jewelry business.

Here are five points she discussed that will have an impact not only on customer service and sales, but on hiring and management practices as well.

• Trophy generations. For about the past 40 years, kids got a trophy just for showing up. For shoppers and employees today and through the near future, it means they often don’t care what you have, what you know or what you’re showing. They care instead about what it means to them, personally. Customers care less about what they can buy and more about what they can create, while employees demand work-life flexibility.
• Multi-generational job force. By 2020, four or even five generations will be working at once, since baby boomers are working longer and young people are coming into the business younger. Employers who can leverage the experiences and backgrounds of a diverse workforce for a broader exchange of ideas, knowledge and opportunities, will see significant payoffs.
• Social responsibility. Job seekers and customers increasingly will gravitate to socially responsible and green companies they can be proud of. It can be a make or break issue in terms of recruiting the best available talent.
• A talent shortage is looming. Start providing training, developing and mentoring programs to build and retain future leaders.
• The democratization of information. Employees will expect transparency, engagement and real input into the mechanics of the business. Instead of trying to keep secrets, just tell them the truth, she advises. “What’s the harm in letting your sales staff know what your margins are, and how they can advance in salary. The payback is much bigger than the risk.