They are called Generation Y kids - and they want to start their working lives with bosses who care about mentoring them. They want plenty of time off to travel, see the world, and participate in volunteer work in far-away places. They honestly believe that showing up regularly for work for six months is a long time and worthy of getting a salary raise! In fact, they are more than likely still living at home, and their mom is probably a driving force behind their asking for that raise.

Does that sound incredible? Dr Tim Elmore, President of Growing Leaders, has recently written:

“I just had the most intriguing conversation with a local employer in Atlanta. He told me he’s at the end of his rope–and he’s about ready to see a therapist. The reason for his duress? The college graduates he recently hired. They were driving him crazy.

Elmore adds that he is hearing this story more and more, about the children born between 1984 and 2002. They are the Millenial Generation, often known as Generation Y.

These Y-gen kids are very unlike the previous two generations. First of all the Baby Boomers were “anti-establishment”, questioning authority any opportunity the got. They were followed by the Generatation X kids, fewer in number than the post-world war-two boomers population bubble. The X-gen kids are more interested in ‘experience’ and ‘community’ and rather than questioning authority, they just ignored it!

But the Y-gen children are hitting the workforce and changing all the rules again. Many Baby Boomers are reaching retirement age, and creating space at the top of organisations, and Y-gen workers who have very high expecations are strangely in demand, and instead of ignoring authority, are simply choosing their own.

It is fascinating to try and think through what this could mean. Tim Elmore has a great analogy he uses to explain:

“More than thirty years ago, the game of baseball experienced an amazing transition. Curt Flood, of the St. Louis Cardinals, ushered in the age of Free Agency. He was the first team member to successfully demand that players should have a say as to where and how long they play with a club. Following Curt Flood’s arbitration, professional players began to expect to spend some of their career as “free agents” having a choice about such things. It was a new day of privilege and power.

“This same phenomena has occurred among twenty-somethings entering the job market today. They come in as though they were “free agents.” They fully expect to dictate some of the terms of their working conditions and they are liable to quit if they don’t get what they want. Over half of Generation Y’s new graduates move back to their parents home after earning their degree, and that cushion of support gives them the time to choose the job they really want.”

Elmore also has some good advice for people who need to deal with Y-gen workers. For starters, he says that we cannot avoid them - they have already started to and will keep entering the workplace for another 20 years. They are used to being competitive, because their parents have pushed them academically, in sport, in music, just about everything. They need to work in a place that is familiar and intriguing. So what is today’s boss needing to do? Here are Elmore’s suggstions:

Foster Friendships
“Old assumptions about what employees value in the workplace don’t always apply with Generation Y,” says journalist Penelope Trunk. They come hungering for friendships with their co-workers. In fact, Trunk goes on to say, “Friendship is such a strong motivator for them that Gen Y workers will choose a job just to be with their friends.” Boston-based Gentle Giant Movers once hired an entire athletic team. “It looked like a great work environment because of the people, ” says Niles Kuronen, 26. “It was huge to be able to work with friends.”

Provide Purpose
This generation wants meaning to come with their work. They don’t just want to make widgets, they want to know how those widgets are going to change the world. So, help them see the meaning behind your goods and services. In fact, allow them to expand and do something they feel creates meaning and adds value to their world. Perhaps you can allow them to begin a fund at the office where they can choose a cause and divert some funds into a non-profit organization that labors for that cause. Or, put together a service trip where they can help the underprivileged with co-workers.

Offer Options
This generation wants their boss to be flexible with their time. It feels normal for Generation Y employees to check in by Blackberry all weekend as long as the have flexibility during the week. Sun Microsoft’s telecommuting program is in high gear, now that they understand this reality. Today, more than half of Sun’s employees work remotely. Flexibility is about as valuable as money–because it gives them power over time. One young person said to me, “For me, time is more valuable than money. You can always get more money, but you can never get more time.”

Value Volunteerism
During their high school years, about 50% of this generation participated in community service projects. Their search for meaning makes support for volunteering among the benefits it values most. More than half of workers in their 20s prefer employment at companies that provide volunteer opportunities, according to a recent Deloitte survey. The software company Salesforce.com gives 1% of the profits to its foundation, which pays for employees to volunteer 1% of their work time. This year, their staff will do 50,000 hours of community service. “The program has dramatically increased our ability to recruit and retain high-quality employees,” says CEO Marc Benioff. Staff love it because they can give back to the community without leaving their job.

Challenge Them With Change
Finally, this generation wants to grow and experience change. They don’t want to stagnate; they want to try new things, experience new opportunities and “own” the vision for the future of the company. Once you bring them on board, sit down and talk about the future. Offer a plan for growth and what they could do if they chose to stay and play a major role on the team. Obviously, you’ll want to be realistic and let them know it may take time. But these young adults want to participate in a dynamic team that is going places. They love change.