This year's college graduations have brought more millennials into the workforce.  In approximately the next decade, all of them will have entered the so-called real world. However, they are different from their older counterparts. They have different goals, want various things and are used to diverse work and lifestyles. This means that management styles will also have to change to remain relevant to Gen Y. To recruit and retain employees, why not try the following:

1. Switch up the dress code
Of course, this depends on what kind of business you run. Some companies need to dress more professional than others. Unfortunately, those strict dress codes don't appeal to the younger workers, Entrepreneur explained. Suits, ties or blouses can make them feel uncomfortable. Why not implement a policy that lets them dress more casually while still maintaining a sense of professionalism? Let them wear jeans with a nicer top. There are ways to switch up the dress code without letting it get too informal. Just think: if they're comfortable, so are you. Save the business attire for when you and your employees need to meet with clients, but let them be themselves on off-days.

2. Give them flexibility
Sitting at a desk from 9 a.m. to 5 p.m. five days per week is less than appealing to those who want to be out doing anything else, especially when the nice weather hits. Gen Y wants the flexibility to work when and where they want. This doesn't mean you let them completely make their own schedules, but give them options, PricewaterhouseCoopers suggested. Offer them the chance to come in an hour or two later in the morning and stay longer in the evening. You can also let them work remotely. If it's a permanent change, you won't have to purchase more office supplies or furniture, which puts more money in your business banking account. As long as they know what they have to do and meet deadlines, it won't hurt to give your workers options.

3. Let them have a say
Millennials rarely like to be told what to do, especially when the reasoning behind it is "that's the way it's always been done," according to Entrepreneur. They want to make a difference, not just follow the old policies and methods. Give them and the rest of your staff the opportunity to make suggestions, offer advice and say what is or isn't working. Letting everyone's voice be heard will give you a happier workforce while also improving your business's processes and culture. When they're the ones who are out on the floor or dealing with customers, they may have better methods of accomplishing something.

4. Help them grow
Unless they've had multiple jobs and internships, recent graduates aren't going to have many skills. As their employer, it's part of your responsibilities to teach them and help them develop business abilities, PwC explained. Give them a variety of tasks that let them learn new things or supplement what they already know. Provide them with mentors that help them figure out the ways of the business, as well as answer any questions they might have now that they're out of school. You also shouldn't be afraid to give them the chance to advance. When they know they're working toward something, they'll be more than willing to stick around.

As more millennials enter the workforce, businesses will have to learn how to better manage them. Gen Yers have different goals and ideals, so try to offer them opportunities that cater to some of their expectations. If you do, you'll be better prepared to hire and oversee the younger crowd.