Population replacement rate - The Monday Morning Memo

WRAL TechWire, Nov 25, 2021 – “For years many demographers have been warning of a permanent worker shortage in the coming decades. It may just be that the pandemic brought the shortage earlier.”

“An important concept in demographics is the ‘replacement birth rate’. This is the birth rate needed to replace deaths and keep the population unchanged. If the actual birth rate is higher than the replacement rate, then the population increases. Demographers estimate the replacement birth rate is 2.1 children per woman. If the birth rate is lower than this replacement rate, then the population decreases. In the case of the latter, a declining population will eventually result in a declining labor force.”

“The Source of All the Confusion

Two brothers were locked out of their home, so they climbed onto the roof and entered the house through the chimney. When they crawled out of the fireplace, one of them had soot on his face, the other did not. The clean-faced brother immediately went into the bathroom and washed his face. The brother with soot on his face did not. Why?

We are confused by the actions of the brothers until we put ourselves in their shoes and see the world through their eyes.

The clean-faced brother looked at the sooty-faced brother and assumed they were both in the same condition, so he went and washed his face. Likewise, the sooty-faced brother did not know he needed to wash, because he was looking at the brother whose face was clean.

We assume that we are like other people, and that they are like us.

This is the assumption that misinformed the brothers.

This is the assumption that misinforms the salesperson.

Do you put yourself into the shoes of each customer and see the world through their eyes, or do you assume that they are like you?

Do you unconsciously assume that your customer has your financial limitations?
Do you secretly believe that they should do what you would do?

These are the reasons you struggle as a salesperson.

You believe you are being empathetic, but you are not.

You aren’t putting yourself into their shoes; you’re putting them into yours.”

- Roy H. Williams, Nov 15, 2018