Millennials Have Key Business Skills, Elance-oDesk Survey Finds

Millennials Have Key Business Skills, Elance-oDesk Survey Finds

Posted on Thursday, November 13th, 2014

Daily News, October 29, 2014

Millennials (born after 1978) are the generation considered best at key skills businesses require to remain agile and innovative, according to the 2015 Millennial Majority Workforce report released today be online staffing firm Elance-oDesk and Millennial Branding, a Gen Y consulting firm.

68% of hiring managers surveyed said millennials have skills prior generations do not, and 82% feel that millennials are technologically adept. In addition, 60% of hiring managers agreed millennials are quick learners.

However, 53%, of hiring managers reported difficulty finding and retaining millennial talent, compared to only 14% who said it was "easy". The study found that 58% of millennials expect to stay in their jobs fewer than 3 years. This contrasts with previous generations, with Gen X (born between 1965 and 1977) leaving a company in 5 years on average and Baby Boomers (born between 1947 and 1964) leaving in 7 years on average.

The report found 80% of hiring managers view millennials as possessing "narcissistic" qualities, while 20% thought the same of Gen Xers.

"Hiring managers express the unflattering belief that millennials are more narcissistic then the previous generation. At the same time, they view millennials as more open to change, creative and entrepreneurial, the very qualities that fuel agility and innovation," said Jaleh Bisharat, SVP of Marketing at Elance-oDesk. "That millennials are different is to be expected - they  need to be. They are inventing what it means to be successful in a technology-driven world where workdays are infinite, needs change on a dime and independence and flexibility are at a premium."

Millennials will be the largest generation in the U.S. workforce as of 2015, according to the Bureau of Labor Statistics.

The survey was conducted in the US and included 1,039 millennials (21 to 22 years old, with a bachelor's, master's degree or postgraduate degree) and 200 hiring managers (33 plus years old and responsible for recruitment or HR strategy within their business).