I’m overwhelmed by the generalities about Generation Y in the HR-related press and blogs. They’re entitled. They expect to start at the top. They need a gold star every two minutes to know they’re doing good work.

What do I see in GenY? A group of young employees who want the same things from work and behave in very much the way I did when I was their age. And if you’re honest with yourself, you’ll likely admit the same. Sure they want to be at the top. That’s where the action is. They know they have to work hard to get there, though. But if you’re not giving them the “gold stars” – meaningful feedback on their work and praise when they do it well – how will they know they’re doing the right thing? But their drive does create one big challenge for business today – creating opportunities for them to grow into greater responsibility and contribution quickly, and remaining true to the company values at the same time.

That’s right – company values are very important to GenY. In fact, recent BlessingWhite research showed the top 5 characteristics recent grads want from their employers (quoting):

1. Company values, mission and culture
2. Recreation (gym facilities, non-work related outings, etc.)
3. Non-financial benefits (medical/dental/vision, paid time off, etc.)
4. Social interaction/work-life blending
5. Financial benefits and salary

Before all else, company values, mission and culture are what’s important to GenY. They want to make a difference, and they want to work in a company that they think is making a difference, too.

But notice where compensation falls – dead last. So what are you doing to make “living the values” something every employee instinctively does? How do you take your values off the wall and bring them to life? How do you show employees that the values are being lived and breathed in daily work? The best way is with behavior-based employee recognition the specifically acknowledges and appreciates employees who demonstrate those values in their work – and does so frequently and in the moment. And, critically, shares these successes in a way that others can chime in with their agreement as well.