Millennials, the members of Generation Y, who were born between 1980 and 2000, are conquering the labour market in recent years. A generation with its values and attitudes has rarely attracted as much attention as the Millennials, who place, in their role as young employees, new and high demands on their working life. In order to make clear, how important the members of Generation Y are for the human resource development when they starting their careers, as well as in order to demonstrate a potential adjustment of personnel development, this masters thesis investigates the question, which role the human resource development plays when young employees of Generation Y starting their working life and what challenges resulting from their career starts. First, a consideration of the term “generation” as well as of the different generations, which are currently working in organisations, takes place, in order to present characteristics and particularities of Generation Y. To emphasise the importance of Millennials for the labour market and the companies, the next chapter deals with the current world of employment, which is changing due to demographic, technical-economic and social development. Following this, the demands, Millennials place on their work and their future employers, as well as their career expectations and strategies are discussed. The last chapter focuses on the human resource development in the era of Generation Y, whereby vocational education and training as well as career management are described. Based on the findings of this masters thesis, three instruments of personnel development, which are particularly well suited for the career start of Millennials, are identified.