Flexible, flighty, entitled and in a rush to succeed – keeping Generation Y happy is not an easy task.

If stereotypes are to be believed this praise-hungry generation of lawyers want to have it all: the most interesting work for the best clients, a rapid promotion path – and all on their very flexible terms. And if they can't get these things at their current firm then why wouldn't they go somewhere else?

Put like that it's hard to see why their more cynical Generation X managers would not have been pushing for many of the same things – once they'd overcome their disenfranchised alienation and seen the benefits of working as part of a collaborative team.

At every level of management, law firms are grappling with how to satisfy this next generation of heavy hitters. The good news – according to research by Legal Week Intelligence – is that on many levels they are succeeding. While there is still dissatisfaction with some aspects of working life, there is arguably less than in many other professions.

And, with the exception of bonuses (and let's be honest, how often is anyone satisfied with their bonus or salary?), at least 60% of the 2,000-plus respondents to the survey were satisfied that the most important criteria to them – from treatment by partners, to reputation and quality of work – were being met.

But there is still room for improvement when it comes to the softer areas that are so important to this generation. Feeling valued is the most important criteria for these lawyers, on par with the quality of work, with recognition and praise not far behind, closely followed by work/life balance and being given proper feedback. On all of these measures there is a significant gap between expectations and how well firms are delivering. So it is here that firms need to rethink their processes if they want to hold on to talent.

It is not just staid law firms that need to move with the times. This week's issue is the last print edition of Legal Week. In line with the changing habits of our Generation X and Y readers and the baby boomers to have survived lockstep culls, all of our articles will now be online only. The type and quality of our content will not be affected – so your decision is simply whether you choose to read our journalism on your desktop, your mobile device or via our new continuous app, Legal Week Live.