Some might say that the topic of “Millennials in the workforce” has been exploited to death, but the recent study conducted by Elance-Odesk highlight several reasons while talking about Millennials now is as relevant as ever. What springs to mind is, that perhaps the fact WHO has conducted the research can serve as the first indication of the young generation’s attitude to employment.
Both Elance and Odesk are leading platforms, facilitating freelance, remote employment. They’ve decided to spend valuable resources on research not to generate publicity, but to get to know more about their main clients – Millenials are the main group which makes the remote working sites extremely profitable. They, more than any other demographic group, put a high value on independence, flexibility, and unique experiences.
As many haven’t yet settled down, they are willing to accept a certain degree of uncertainty in exchange for escaping a dead-end 9-5. But does it mean that Millennials are anti-corporations? Not necessarily. According to Elance -oDesk, 28% of US Millennials have already reached a managerial level, while 2/3 see themselves in management within the next decade. Their predictions are probably right – 2015 marks the year when the Millennials become the majority of US workforce (in fact, as found by Gen Re, they will constitute 75% of the global workforce by 2025).
Bringing their unique skills, for example, technological excellence, to the workplace, they have good reasons for expecting a fast-track career. Despite their unique skills, it’s often difficult for Millennials to find work. At the same time, the majority of hiring managers admits difficulty finding and retaining millennial talent. Paradoxical? We need to start by fighting the common myths, like “Millennials are primarily money-driven”. Guess how many Millennials would actually take a pay cut to work somewhere, where they can change the world for the better? More than 50%. Elance-Odesk research examined what this group in the workforce is really about:
- They are entrepreneurial. 79% of respondents said they would consider working for themselves in the future.
- They value flexibility.
- They care about people they work with, mentorship, and excitement at work – often more than they care about the salary.
What’s the good news? Once the employers are ready to look beyond the stereotype, they see how valuable a Millenial employee can be. The majority of hiring managers already admit that Millennials “can learn new things more quickly” and “are more likely to come up with fresh ideas”. With the huge hiring gap in the US market, the army of innovative, enthusiastic professionals is yours for the taking. The next challenge is understanding how to keep them motivated and engaged in a role.