Who's Going to Be the Cheerleaders for Gen-Y?

Baby Boomer Parents have always been their children's biggest cheerleaders.

Now that Gen-Y (aka Millennials) is coming into the workforce, as managers, we need to be aware of some aspects related to these young adults who have experienced a youth of parental cheerleading and working with a variety of coaches (soccer, dance, math etc.)

Millennials expect and need praise.  They have received it throughout their adolescent years, and expect it.  They will mistake silence on the company's part as disapproval. 

Millennials also expect feedback.  And this means regular feedback.  The "annual performance review" that baby-boomers grew up with won't cut it.  Their preference is real-time feedback, and if they can get it on their PC, or better PDA/cellphone, even better

What is the consequence of not responding to this need?  Probably too early to tell, due to lack of empirical data, but my guess is that lacking feedback, many will head to places / environments where they can get the "nurturing" that have come to expect.