The 80 million members of Generation Y, born between 1979 and 1999, are hitting the workforce in droves, wearing flip flops all year round, gaming on their iPhones and bringing an intense desire to leave their mark on the workplace.

Rumored to have a huge entitlement attitude without as large a work ethic to match, employers may be tempted to put Gen Y resumes at the bottom of the pile. But they would be missing a great opportunity, experts say.

"Businesses that crack Gen Y are really going to have an advantage," says Anna Ivey, consultant and author of The Ivey Files, a blog about how to deal with 20-somethings in the workforce.

You've heard the Gen Y stereotypes: They can't manage to write a professional e-mail without colloquialisms like "ttys" or "nbd" (Gen Y-speak for "talk to you soon" or "no big deal," of course), and aren't willing to work hard or long to advance.

However, for all the labels (some more deserved than others), "You can dislike it, but pretending [Gen Y doesn't exist] is just sticking your head in the sand," Ivey says.

Recruiting via Facebook?

With 80 million Gen Ys to pick from, HR/benefits professionals might think it's easy to have the best catch of the day. Not so.

Lisa Orrell, author of Millennials Incorporated, says that companies of all sizes need to push toward technology. "[Companies] need to quickly adapt to a Web 2.0 planet," she says. "A corporate or company Web site isn't enough - [you have to] get creative and strategic." Orrell suggests having a presence on YouTube or Facebook as a way to draw younger candidates.

Yahoo! HotJobs and Robert Half International recently surveyed 1,000 Gen Yers, finding that nearly three-quarters visit company Web sites to look at prospective employers.

Lauren Harris, a 23-year old assistant account executive at a Washington, D.C.-based public relations firm, says that having an online presence is paramount. "Posting jobs on the Internet is how you're going to find people," she says, and notes that her company even has a group on the popular social networking site Facebook.

"Our CEO just signed up, and he's been poking' all of us," she says.

A comprehensive benefits package doesn't hurt either.

Gen Y employees say that salary (33%) and job stability (26%) are top concerns, according the Yahoo! survey.

Retaining through flattery

"Gen Yers want to know what they're doing matters," says Linda Blandford-Beringsmith, vice president of human resources at Robert Half International.

And apparently, they want the responsibility and the title as well. Arthur Nelson, a recent graduate in the IT practice at Corporate Executive Board, says, "If I was going to be working for Wachovia, I'd want to be the analyst, not the bank teller."

They also overwhelmingly value flextime over face time - all of the Gen Y employees interviewed say that a flexible work schedule was one of their top requests when applying for jobs.

"They think, Why do I need to be chained to a desk when I can be online anywhere, at any time?'" says Blandford-Beringsmith.

"Web Commuting & the American Workforce," a recent study by Citrix Online, a division of Citrix Systems Inc., finds that 23% of workers regularly telecommute. Of those unable to do so, 62% would like to.

While in the office, Gen Y employees like to keep busy, Blandford-Beringsmith says, so employers will want to play up the opportunity for internal networking or side projects within the company.

"I definitely want interaction with my boss or manager - if not on a daily basis, then at least several times a week," says Mary Beth Ballard, a senior at Wake Forest University in Winston-Salem, NC, who is making a "hands on" approach a big factor in her job decisions.

"I don't need hand-holding, but I want to make sure I'm working in the right direction, especially when I'm staring a new job or project," she says.

Nelson refers to this type of interaction as an ongoing "dialogue" between management and employees. "If I'm doing a good job, I want management to help me find new opportunities to advance myself, the company and my career," he says. "They need to say, Let me tell you about these new roles,' or Let's talk about these projects,' and it will go a long way toward keeping me at a particular company."

But is this constant dialogue overly touchy-feely?

"It's true Gen Yers crave more validation," says Blandford-Beringsmith. "So leverage it. How hard is it to say thank you' or good job?'"

"They need flattery to survive," Ivey says wryly, but she does add that they're open to taking constructive criticism.

Motivating through benefits

The Yahoo! survey says benefits are a strong sticking point. On a scale of one to 10, Gen Yers ranked salary and benefits as their top two priorities, above job title, company reputation and location.

They also hope to spend a shorter amount of time "paying dues" - one to two years, at most. "We're more focused on the concept of a meritocracy," Nelson says. "We're impatient, but impatient for a reason. If I'm doing a good job, I want to take on more responsibility."

Ballard adds: "Mundane tasks need to get done, and that's just part of any job. But I want to know that eventually, there's a light at the end of the tunnel. And if I'm doing a good job, I'd like more responsibility now, not on a strict promotions schedule."

Fran Luisi, founding partner in search firm Charleston Partners, says it's important to ensure your environment encourages, rather than stifles, growth. The key word, he says, is integration. "There's a real marriage between corporate culture, benefits and work-life balance."

Hear more about recruiting and retaining Gen Y employees in Robbins' "Five Minutes With ..." podcast with Anna Ivey of The Ivey Files. Download the audio at http://ebn.podhoster.com.