No surprise here: They want cash.

Though it’s often said younger workers are more interested than their predecessors in factors like flexibility and social responsibility, 85% still say salary is the most important incentive employers can offer, according to a recent survey by Personnel Today.

Of course, that doesn’t mean other benefits don’t matter when you’re recruiting. But companies should be careful about substituting those other perks for competitive compensation, the researchers said.

Roughly 70% of recent college graduates quit their first job within two years, according to a survey by Experience, Inc.

Why? Beyond the profitability of job hopping, one reason may be that many of them didn’t want those jobs in the first place — 43% said they’re not in the career they expected or wanted to be in, either because they didn’t get a job they wanted, or they jumped on the first opportunity that presented itself.

Furthermore, 60% are currently looking for a new job or career.

All is not lost, though — despite the lack of loyalty, 57% reported they were happy in their current positions.

What can companies do to increase Generation Y’s loyalty? Here’s some advice from Experience:

• Set expectations — Giving an accurate picture of the job while you’re recruiting will help filter out people who will be unhappy.
• Offer lifestyle benefits — Flexibility is key for keeping young workers satisfied.
• Get social — Younger employees tend to stick around more often when they have good relationships with their peers. Holding events that bring them together whenever possible is one way to boost retention.

Answer: Impress them quickly.

That’s the word from a recent survey by the Novations Group. Employees under 30 (notorious for job-hopping) were asked how long it takes to decide whether or not a new job is right for them. The results:

• 26% said “less than a month”
• 51% said “one to six months,” and
• 22% said more than six months.

In other words, if young hires don’t feel highly satisfied within the first few months, most of them will be heading somewhere else.

Hang on to talent

Here’s some advice the Novations Group has for retaining young employees:

• Don’t underestimate the power of relationships. Employees (especially twenty-somethings) are more likely to stay in a job where they have friends. Set new employees up with peer mentors so they have a go-to person starting on day one.
• Offer training and help attaining professional certifications. That’s a low-cost benefit that has a lot of value for both employee and employer.
• Explain how the job fits in with the “big picture.” Early on, introduce new workers to other departments and explain overall how everything’s connected. Folks tend to be more committed if they see the effect their work has on the organization.

Due to the phenomena of “helicopter parenting,” odds are when young folks are ready for the working world, their parents are going to be involved in the job hunt somehow.

Often, often parents help their kids look through ads or edit resumes. But some candidates even have gone so far as to bring a parent to an interview, or have one of them call HR to make sure someone saw the resume.

Not everyone minds

Some employers actually have begun embracing the concept. Some Enterprise Rent-a-Car locations, for example, send parents a copy of the offer letter when recent college graduates are hired. Hewlitt Packard has started training HR folks on how to deal with candidates’ parents.

How about your company? Have you seen any signs of increased parental involvement? Would you hire people who brought moms or dads along for an interview? Drop us a comment and let us know what you think.