The youngest adult workers have unique expectations and values—and with a little planning, you can set them up for professional success while they help your business thrive.

Depending on who's talking, Gen Y employees—born after 1980 and the youngest adults in today's workforce—are either distracted hedonists with an overdeveloped sense of entitlement, or visionary trendsetters turning away from money to find a more balanced life.

The truth, of course, is somewhere in between. And no matter what your perspective, these Millennials, as Gen Yers are often called, represent your organization's future, so it's important to keep them involved as they rise through the ranks. The need for engagement above compensation was clearly illustrated last year, when corporate belt-tightening threatened amenities—from work environment to scheduling flexibility—that these workers have come to expect.

Beyond money, experts say, Millennials seek intangible benefits from their jobs. These include:

Information. Wired, connected, networked, Millennials thrive on information and transparency, and they want it from leaders as well as their peers. Don't be afraid to share negative news. Doing so builds trust, and trust encourages communication that fosters innovative thinking among these younger team members.

Engagement. Surveys and studies continue to show that Millennials expect their jobs to provide them with the feeling that they are having a positive impact. They also place a high value on learning experiences and exploration, and they thrive on new challenges. Consider giving them greater or more diverse responsibilities that can help them grow personally and professionally.

Loyalty. Previous generations felt loyalty to their employers, but Millennials tend to feel that the organization owes them loyalty. An investment in mentoring can help bind these independent spirits to your organization through the guidance of a leader who offers personal attention and opportunities for advancement.

Receptivity. Finally, Millennials want to be heard, and the smart leader will listen. After all, who better to keep you informed about innovations, market trends and staffing opportunities than this highly networked generation of employees? The more open you are to learning from them, the more prepared you and your organization will be for the future.

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