How to manage Millennials or Generation Y

Today's exploration is :

"How to manage Millennials" - also known as Generation Y.

As an organization or as a manager - "How to you manage millennials"? As per Wikipedia - Demographers and researchers typically use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years for Gen Y.

I think today’s topic is controversial, informational and required to be discussed - the reason I say that is because anything which span "Generations" is important and shouldn’t be taken for granted.

With Avinash, today I want to discuss what does manage mean for Gen Y, work life balance, flat corporate culture expected by Gen Y and why everyone feels that Millennials are the most difficult generation so far to manage at workplace.