About 77 million American Gen Yers were born over an 18-year span — 1981 through 1999. That's about the size of the Baby Boom, though Gen Y is a smaller share of the population. In 1970, for example, Baby Boomers accounted for nearly half of the total U.S. population, while today only about a fourth of Americans are part of Generation Y. Why such a difference in share? The Baby Boom was the result of birthrates that soared after World War II, peaking in 1957 and 1961. Women then simply had more children. Gen Y is big because there were so many Boomer women who could have babies, even though the number of births per woman plunged after the Pill became widely available.

The single most important difference between Gen Y and earlier generations: The Millennials' familiarity with technology. Gen Y cut its teeth on computers and digital media. More than any other population segment, Gen Yers see technology as enhancing the quality of their lives — making work easier, allowing them to manage time better and bringing family and friends closer. 90% of Gen Yers over the age of 18 use the Internet. 75% use social networking — Facebook, LinkedIn, etc. 60% of them access the Web wirelessly while on the go. 83% keep their cell phones nearby, day and night, awake or sleeping. Two-fifths don't even have a land line.

They Offer a Lot to Employers …

In addition to possessing a technological savvy that can't be beat, Gen Yers are well-schooled. One in five Millennials over the age of 18 have already graduated from college; one fourth of them are working on graduate degrees. Another fourth are in college and about 30%, though not now in school expect to earn a degree. They're on track to beat all previous generations. Gen Yers are also well traveled. About a quarter of a million Gen Yers study abroad each year. They're culturally aware—thanks in part to their foreign studies and to the diversity of their peer groups. And Millennials are used to working in groups. From preschool on, they've been taught to work cooperatively, with stronger team members helping out others.

… But They'll Need Some Coaching

Millennials have different expectations about their jobs and careers than earlier generations. They expect work to be fun and meaningful. Few will stick with a job they dislike just for a paycheck. Two-thirds of Gen Yers who are already employed expect to change jobs sometime in their lives. 62% of Gen Xers and 84% of Baby Boomers plan to stay with their employers. As a group, Gen Y feels a real pull to contribute to making the world a better place, so companies that try to do good have particular appeal.

Personal relationships are paramount. Gen Yers find jobs through friends and want to work with friends. Loyalty is to a person — the boss — not the company. And time is more valued than money. Millennials want flexible schedules and may prefer additional vacation days to cash bonuses.

This generation, as hinted at in the article, can be quite careless and reckless. They don't fully understand the consequences of their actions. Their moral values are lacking in many areas and I think we'll see a dramatic change in the "standards or decency" everywhere we look.