Generational Change
Farmers and livestock producers are growing older – but not necessarily retiring
According to the USDA, the average age of the U.S. farmer is now 58 years old. As farmers and ranchers grow older, you can expect that land – and business ownership – to change hands.
It’s estimated that about 10 percent, or 91.5 million acres, of farmland is expected to transfer to new ownership in the next five years. The Northeast, Plains, and West regions transferring larger shares than the U.S. average or other regions. Almost half of the land transfer will take place through trust arrangements, according to the USDA.
Before that change occurs, multiple generators of farmers and ranchers are working side-by-side. This means distributor sales representatives (DSRs) must connect with more than one decision maker – and do it effectively. For older farmers, that may mean more formal communications like mail or phone calls. For millennial ranchers, consider sending text messages instead. Traditionalists tend to be individual while Baby Boomers appreciate meetings.
To work towards building a strong relationship, it’s important to avoid stereotyping people from any generation. This can cause you to miss opportunities to improve communications and strengthen relationships, according to the University of California, Santa Cruz.
DSRs themselves belong to these generations and likely exhibit communications preferences. Now is the time to learn flexibility. It’s important to developing lasting relationships with ranchers that are going to be part of a massive ownership transfer in the next five years.
Who are you working with?
- Traditionalists or Veterans (born before 1946)
- Baby Boomers (1946-1964)
- Generation X (1965-1979)
- Generation Y or Millennials (1980-2000)
Information from Forbes Magazine
