Summarize:

Oftentimes, Millennials will ask for advice or for an opinion. Respond to email quickly, even if it's just to give a brief answer or inform them that their question is part of a larger discussion you are planning to have later in the day or workweek. Millennials might have expectations that seem unreasonable or strange to you, but the first step in communicating with them is recognizing that these expectations come from pressures they have in their current lives. The best thing to do is to talk to them and try to understand their expectations while simultaneously setting boundaries about what is reasonable. For example, struggles like paying off massive student loans or trying to find a place to live in increasingly unstable housing markets can manifest themselves in the workplace through the desire to get promoted quickly. Respond to such worries by explaining that, while they can't be promoted within a month, or become a Director of something within a year, there are opportunities for career advancement. You don't need to schedule a formal employee review every month, but what you can do is to provide small, informal responses weekly or even daily. Millennials value transparency, and helping them know what your expectations are (and how they're doing in regards to those expectations) help them meet and even exceed those expectations. While Millennials do value frequent praise and transparency, not all of the praise has to be positive. In general, a Millennial would rather you recognize they've accomplished something (a neutral recognition is fine) and then give them honest, precise feedback about what they've accomplished, even if that feedback is negative. Millennials are the generation that's most open to mentoring and coaching. They value advice from more "experienced" team members, and enjoy having someone to talk to about work. A mentor should be someone who is willing to answer questions about the job and the company as a whole, and who isn't afraid to take some time out of their week to check in. Integrate technology like Slack or Skype to help your employees increase efficiency. These tools serve as forces for collaboration and execution, and can help cut down on long meetings, excessive emailing, or other unproductive workplace habits.
Practice responding quickly. Set expectations. Provide regular feedback. Don't feel the need to only provide positive feedback. Establish mentoring chains. Leverage technology in your workspace.