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Are millennials ready to lead? Depends on who you ask

As Millennials take over as the largest generation in the modern workplace, one key question exists: Are they ready to lead?

According to new data, the answer just may depend on who you ask.

A new study finds that Millennials rate communication and relationship-building as their strongest leadership skills. However, other studies done in the past have shown these perceptions are not shared by older generations. The study conducted by WorkplaceTrends and Virtuali also found that 91% of millennials aspire to be a leader.

In a previous study done by Beyond.com, however, only 14% of HR professionals found that Millennials were strong communicators and just 22% believed said members of the generation were team players.

Jeanne Meister, partner at Future Workplace and co-author of "2020 Workplace," says Millennials want to see their company investing in both their career development and workplace flexibility.

"Companies should be prepared to offer early career development for high potential Millennials and access to certified leadership development programs," Meister told CNBC.

Millennials tend to seek companies that offer flexible work schedules and telecommuting, even if they make less money, according to the study by Workplace Trends and Virtuali. In fact, 28% of millennials said that work life balance was their biggest reservation about being a leader.

Meister advises older generations to do a variety of things to keep the younger talent based happy, including reverse mentoring and concentrating on the workplace as an experience rather than just a physical office.

Dan Schawbel, author of "Promote Yourself," thinks all generations need to adapt to technology in a way that ultimately helps them connect with other generations in new ways.

"I always tell millennials that they should use technology in order to create more offline experiences, from lunches where they can network with employees to meetings where they can collaborate in person," Schawbel said.