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We can increase productivity and profit, and save money. We can decrease congestion, and reduce environmental pollution, without spending millions on new infrastructure. We can achieve economic and community development, and improve national productivity. We can do more and better work, and spend more time enjoying life.

Over the past two decades the labour market has changed dramatically. There are far more jobs but fewer of them are full-time. Many full-time, blue-collar jobs traditionally filled by men have disappeared while women generally fill the new, part-time and usually casual positions that have been created.

The lifetime employment system in Japan offers employees a high degree of job security. The characteristics, foundations, extent and effects of the system are examined, as are some present strains upon it. The system's implications for education and for careers guidance in Japan are then explored. The structure of guidance services in schools, in employment offices, in universities and colleges, and for adults, are described, and are related both to the lifetime employment system and to other features of Japanese society.

Flexible manufacturing systems, team work with decentralisation of decision-making, integration of tasks and multiple allocation across functional barriers demand a skilled work force prepared for continuous learning and adaptation. It is common to see a younger, well-educated and trained work force as being required for such a production environment. A closer empirical look at most of the internal labour markets in this study shows that existing labour market structures do not match this image. Existing labour markets consist very often of an older (and ageing) labour force with relatively low skills and with resistance to continuous training. These structural features have, over the last ten years — despite the existence of costly early retirement measures and new entries into internal labour markets — not much improved, and in many cases have even deteriorated.

At most companies, going AWOL during daylight hours would be grounds for a pink slip. Not at Best Buy. The nation's leading electronics retailer has embarked on a radical--if risky--experiment to transform a culture once known for killer hours and herd-riding bosses. The endeavor, called ROWE, for "results-only work environment," seeks to demolish decades-old business dogma that equates physical presence with productivity. The goal at Best Buy is to judge performance on output instead of hours. Hence workers pulling into the company's amenity-packed headquarters at 2 p.m. aren't considered late. Nor are those pulling out at 2 p.m. seen as leaving early. There are no schedules. No mandatory meetings. No impression-management hustles. Work is no longer a place where you go, but something you do. It's O.K. to take conference calls while you hunt, collaborate from your lakeside cabin, or log on after dinner so you can spend the afternoon with your kid. Best Buy did not invent the post-geographic office. Tech companies have been going bedouin for several years. At IBM (IBM ), 40% of the workforce has no official office; at AT&T, a third of managers are untethered. Sun Microsystems Inc. (SUNW ) calculates that it's saved $400 million over six years in real estate costs by allowing nearly half of all employees to work anywhere they want. And this trend seems to have legs. A recent Boston Consulting Group study found that 85% of executives expect a big rise in the number of unleashed workers over the next five years. In fact, at many companies the most innovative new product may be the structure of the workplace itself.

They've got the smarts and the confidence to get a job, but increasing numbers of the millennial generation — those in their mid-20s and younger — are deciding corporate America just doesn't fit their needs. So armed with a hefty dose of optimism, moxie and self-esteem, they are becoming entrepreneurs. "People are realizing they don't have to go to work in suits and ties and don't have to talk about budgets every day," says Ben Kaufman, 20, founder of a company that makes iPod accessories. "They can have a job they like. They can create a job for themselves."

"They want to create a custom life and create the kind of career that fits around the kind of life they want," says Bruce Tulgan, the founder of RainmakerThinking, a management training firm in New Haven, Conn., and an author specializing in generational diversity in the workplace. Experts say these children of the baby-boom generation, also known as Gen Y or echo boomers, are taking to heart a desire for the kind of work-life balance their parents didn't have. They see being their own boss as a way to resolve the conflict. So now they're pressing ahead with new products or services or finding a new twist on old-style careers. They're at the leading edge of a trend toward entrepreneurship that has bubbled for decades and now, thanks in large part to technology, is starting to surge. "It is a fun-loving generation," says Ellen Kossek, a Michigan State University professor in East Lansing who has spent 18 years researching workplace flexibility. "They view work as part of life, but they don't live to work the way we were socialized as boomers. There is a real mismatch between what the young generation wants and what employers are offering."

Those who have studied generations in the workplace, such as author David Stillman of Minneapolis, do have some insights. Stillman, who co-wrote the 2002 book When Generations Collide, say these young workers have very different ideas than earlier generations. "This generation has the group-think mentality," he says. "When you are raised to collaborate at home, then you are taught how to do that in middle school and practice it in college, you show up at work saying 'Where's my team?' They're just comfortable working with peers." Many go into business with friends.

"Generation Y is much less likely to respond to the traditional command-and-control type of management still popular in much of today's workforce," says Jordan Kaplan, an associate managerial science professor at Long Island University-Brooklyn in New York. "They've grown up questioning their parents, and now they're questioning their employers. They don't know how to shut up, which is great, but that's aggravating to the 50-year-old manager who says, 'Do it and do it now.' " That speak-your-mind philosophy makes sense to Katie Patterson, an assistant account executive at Edelman Public Relations in Atlanta. The 23-year-old, who hails from Iowa and now lives with two roommates in a town home, likes to collaborate with others, and says many of her friends want to run their own businesses so they can be independent. "We are willing and not afraid to challenge the status quo," she says. "An environment where creativity and independent thinking are looked upon as a positive is appealing to people my age. We're very independent and tech savvy."

Companies are finding it harder to hire and retain younger people, and applications at business schools are plunging. 70 MILLION STRONG.  Nick Hahn, a managing director at Vivaldi Partners, a New York consulting firm, remembers just a decade ago when he was looking for a job, how most college graduates would have given almost anything for a top-paying spot at a big-name investment bank or consulting firm. It was taken for granted that to climb the corporate ladder they would all work 80-plus-hour weeks. That's beginning to change. Increasingly, "today, college grads ask: 'what can your firm do for me' to help them lead a more purposeful and meaningful life," says Hahn.

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