Facing a potential onslaught of baby boomer retirements and a smaller pool of Generation X employees to replace them, IT managers who want to create or sustain a Best Place to Work environment will need the additional help of another group of professionals: Generation Y. Also known as Millennials, this group consists of nearly 80 million individuals born roughly between 1979 and 1999. They are the workforce of the future.

But what will it take to attract and keep these individuals? Are Generation Y's ideas about what makes a great employer different from those of other generations?

Yes, and no.

In many ways, the Millennial generation wants exactly what professionals from previous generations expect from employers. When polled for a recent study by our company and Yahoo HotJobs, the most senior members of Generation Y - those aged 21 to 28 and beginning their careers - placed salary, benefits and opportunities for professional growth at the top of their lists.

This isn't to say, however, that they are like their predecessors in every way. In terms of their workstyles, professional expectations and career concerns, they show some distinct preferences. Based on their responses to the survey, here are a few suggestions for making your company Gen Y-friendly.

No. 1: Offer attractive benefits. Salary is a key consideration for members of this group, but so are benefits. Growing up at a time when the U.S. health care system is delivering fewer services at higher costs and the future of Social Security benefits is in doubt, Gen-Yers are most attracted to companies that provide first-rate health care and retirement benefits.

No. 2: Promote work/life balance. Nearly 73% of Gen-Yers surveyed said they are concerned about being able to balance a career with personal obligations. Consider implementing specialized arrangements - such as flextime, telecommuting or a compressed workweek - that give employees more control over their work schedules.

No. 3: Narrow the rungs of the corporate ladder. Millennials are willing to work hard, but when it comes to moving up the ranks, they want to do so quickly. According to the study, 51% of Millennials surveyed believe professionals entering the workforce should have to spend only one to two years proving themselves in entry-level positions. That means you aren't likely to attract or keep talented Gen Y employees by requiring them to spend years "paying their dues."

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