The new workplace currency: It’s not just salary anymore

The desire of young professionals and college students to use social media, mobile devices, and the internet more freely in the workplace is strong enough to influence their future job choice, sometimes more than salary does, according to an international study published by Cisco.

This and other findings highlighted in the second chapter of the 2011 Cisco Connected World Technology Report characterise the seriousness of the next-generation workforce’s demand to work remotely with more flexibility in their choice of devices.

This demand illustrates the importance of the relationship between the internet, workforce culture, and companies’ competitive advantages, and surprisingly indicates that traditional methods of attracting and retaining young employees may be less important as the ‘Millennial’ generation comprises more of the workforce.

The second annual Cisco Connected World Technology Report, which surveyed more than 2,800 college students and young professionals in 14 countries, was commissioned to assess the challenges that companies face as they strive to balance employee and business needs amid increasing network demands, mobility capabilities and security risks.

The study revealed that one in three college students and young employees under the age of 30 said that they would prioritise social media freedom, device flexibility, and work mobility over salary in accepting a job offer, indicating that the expectations and priorities of the next generation of the world’s workforce is not solely tied to money.

Mobile networking, device flexibility, and the blending of personal and work lifestyles are key components of a work environment and culture that are increasingly important in determining which companies will land the next wave of industry talent.

More than two of five college students (40 per cent) and young employees (45 per cent) said they would accept a lower-paying job that had more flexibility with regard to device choice, social media access, and mobility than a higher-paying job with less flexibility.

More than half of college students globally (56 per cent) said that if they encountered a company that banned access to social media, they would either not accept a job offer or would join and find a way to circumvent corporate policy.

In reality, more than two of five employees (41 per cent) said their companies marketed a flexible device and social media policy to recruit and attract them. Almost a third of the employees globally (31 per cent) believe their comfort level with social media and devices was a factor in their hiring – an indication that companies acknowledge the value Millennials provide in utilising technology to help companies’ efficiency and competitive advantage.

The importance of devices and the information they carry rivals the importance of money. Half of college students and young employees (49 per cent) said they would rather lose their wallet or purse than their smartphone or mobile device.

The days of one device are over. More than three of every four employees (77 per cent) have multiple devices, such as a laptop and a smartphone or multiple phones and computers. One in three employees globally (33 per cent) uses at least three devices for work.

About seven in 10 employees (68 per cent) believe their companies should allow them to access social media and personal sites with their work-issued devices.

More than two out of five college students globally (42 per cent) believe companies should be flexible and empathetic to their need to stay connected via social media and personal websites.

Three out of 10 students globally (29 per cent) feel that once they begin working, it will be their right – more than a privilege – to be able to work remotely with a flexible schedule.

www.cisco.com/go/connectedreport