From my perspective, which is that of running a technology enabled services business, I have seen some things you might find unexpected while focusing on reinventing the day job for Generation X and Generation Y.
• All generations respond positively and their levels of commitment rises beyond the commitment they have had at other companies
• Passionate employees far exceed order takers and are willing to put any amount of time necessary to succeed
• Your employees never stop working, they are always thinking about how to make the place they love better
• Your customers, potential employes, vendors, partners and press can all feel the positive energy radiating from your organization
• Your brand can be built from the culture of your company, which in the emerging world of social media is critical
For those might be concerned that this new generation of workers is doomed to drive our country into the ground (or better yet, those who are interested in engaging this new work force) I encourage you to read Grown Up Digital by Don Tapscott.
Grown Up Digital is about the Net Generation, which starts on January 1977. (I was born 1 month after this generation started, which I guess gives me a first mover advantage.) Listen to the intro that Eric Schmidt (Google CEO) gives Don in the first minutes of this video and you get an idea of how well respected this guy is.
While this focus on reinventing the day job might not be applicable to every industry, it has served my tech enabled services business quite well.