Millennial Study - Elance-Odesk Millennial Majority Workforce

We feature a study conducted by Elance, which compares millennials to other generations, particularly Generation X. Included are stats, an infographic, a slideshare, and link for the full report.

According to Elance, this study reveals changes in how we work, generational differences, and the critical role millennials play for businesses as we move forward. Among findings, millennials offer unique skills - such as fresh ideas, adaptability and tech-savvy - that businesses need in order to innovate and remain competitive. Although clear contrasts exist between the prior generation and millennials, these are to be expected as millennials reinvent what it means to be successful in a rapidly changing, technology-driven world.

Key stats and info include:

  • 82% of hiring managers believe millennials bring unique skills, especially that they are more technically adept than other generations
  • 53% of hiring mangers report finding difficult finding and retaining millennial talent
  • Millennials care more about the people they work with, exciting work, and good mentorship, and less about money than hiring managers realize

elance millennial infographic

Key takeaways, with respect to millennials and the future of business include:

  • Millennials will become the largest generation in the U.S. workforce, and 28% of millennial respondents said that they are already in management positions. A full two-thirds say they expect to be in management by 2024.
  • Nearly seven out of ten (68%) hiring managers say millennials have skills prior generations do not, and more than eight out of ten (82%) hiring managers feel that millennials are technologically adept. In addition, 60% of hiring managers agree that millennials are quick learners.
  • The majority (53%) of hiring managers report difficulty finding and retaining millennial talent, more than three times the number who say it is “easy.” The study also found that 58% of millennials expect to stay in their jobs fewer than three years. This contrasts with previous generations, with Gen X (born between 1965 – 1981) leaving a company in 5 years on average and Baby Boomers (born between 1945 – 1964) leaving in 7 years on average

The following SlideShare presentation provides insightful data:

elance 2015 millennial majority workforce study slideshare

 

Click here for the full report.

 

 

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