This new wave of talent, Generation Y, is passionate, talented and highly ambitious – they want to stretch, learn new skills, and contribute to great causes – but they also want a life. They want balance, to have fun and be part of a great team! But if their managers do not understand what they really need to thrive at work, their ‘I want things to happen fast’ attitude is often perceived as entitled, arrogant and unrealistic.

After talking with thousands of Gen Y’s, here are four of the top ten things they have said they want at work that will help them thrive (and also help your business to grow!) Stay tuned for part two coming this afternoon.

At Work

1. To Be Challenged

Remember, this is a generation that grew up with technology in an overindulged culture! They think fast, work fast (if they want to), and want to be challenged. Work that is too slow will bore them to death. So give them lots to do! One Gen Y told me that he was so bored that he asked his boss for more work (because he had already finished his assignments) but his boss just brushed his request off. He later quit.

2. Opportunities to Advance

They are ambitious. Many of them want to be VP or even President someday, and sooner rather than later. They want to work for companies that can partner with them to help them achieve their goals – short and long term! Pay attention to what they want for their professional goals, voice your expectations of what you need from them, but also let them know what you think they need to do to reach their goals.

3. Training

This is the most educated generation in history! They love to learn and stretch their minds (remember: it just has to be done in a fast paced way). Provide practical training in a variety of areas. One of the best types of training can be mentoring if its done properly.

4. To Know that Their Work Matters

Gen Y’s want to know that their work or smaller project is part of the companies bigger picture and goal. They want to know that all their work actually counts for something. So explaining how their project contributes to your companies overall vision is important!

Stay tuned for part two coming this afternoon.