The New Workplace Currency — It’s Not Just Salary Anymore: Cisco Study Highlights New Rules for Attracting Young Talent Into the Workplace
SAN JOSE, CA, Nov 02, 2011 (MARKETWIRE via COMTEX) –
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 (NASDAQ: CSCO).
This and other findings highlighted in the second chapter of the 2011
Cisco Connected World Technology Report characterize 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.
Key Findings
– 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.
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Impact on job choice and salary
– The study revealed that one in three college students and young
employees under the age of 30 (33%) said that they would prioritize
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 are 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%) and young employees (45%)
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.
Influence of social media and mobile device policies on job choice
– More than half of college students globally (56%) 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.
– About two of three college students (64%) said they plan to ask about
social media usage policies during job interviews, and one in four
overall (24%) said it will be a key factor in their decision to accept
an offer.
– In reality, more than two of five employees (41%) said their companies
marketed a flexible device and social media policy to recruit and
attract them.
– Almost a third of the employees globally (31%) 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
utilizing technology to help companies' efficiency and competitive
advantage.
Influence of remote access and flexible work hours on job choice
– For those employees who are prohibited from accessing corporate
networks and applications remotely, the top reason among employees is
corporate policies (48%), including influence by corporate culture and
resistance to enabling a more distributed communications culture.
– Despite this, employees are expecting greater work flexibility. At
least one in four employees (29%) globally said the absence of remote
access would influence their job decisions, such as leaving companies
sooner rather than later, slacking off, or declining job offers
outright.
Importance of mobile devices
– The importance of devices and the information they carry rivals the
importance of money. Half of college students and young employees
(49%) 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%) have multiple devices, such as a laptop and a
smartphone or multiple phones and computers. One in three employees
globally (33%) uses at least three devices for work.
– As evidenced in the data above, a majority of college students
globally — seven of every 10 (71%) — believe that company-issued
devices should be allowed for personal and business use because of the
blending of work and personal communications in their daily
lifestyle.
– Four of five college students (81%) want to choose the device for
their job — either receiving budgeted funds to purchase the work
device of their choice or bringing in a personal one in addition to
standard company-issued devices.
– About seven in 10 employees (68%) 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%) believe
companies should be flexible and empathetic to their need to stay
connected via social media and personal websites.
Attitudes toward workplace flexibility and remote network access
– Three out of 10 students globally (29%) 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.
– Currently, more than half of employees (57%) can connect to their
corporate network from some remote locations, but only one out four
(28%) can do so at anytime, from any location. Two in five (43%)
consider it a critical function of their job to be able to connect to
the network from any location at any time.
– Seven of 10 college students (70%) believe it is unnecessary to be in
the office regularly, with the exception of an important meeting. In
fact, one in four feel their productivity would increase if they were
allowed to work from home or remotely. The global figures were
mirrored by employees as well, with 69% believing office attendance
was unnecessary on a regular basis. In contrast, the 2010 report
showed that three of five (60%) employees (of all ages) believed it
was unnecessary to be confined to offices. The 2011 version's finding
indicates that the expectation of the next-generation workforce is
increasingly emphasizing work flexibility, mobility, and
non-traditional workstyles.
– More than half of the college students and employees want to access
corporate information over corporate networks using their home
computers (63%) and personal mobile devices (51%).
– In the future, the next generation of the world's workforce expects to
access corporate networks and applications on numerous non-company
devices, such as car navigation screens, seatback screens on
airplanes, and televisions.
About the Study
– The study was commissioned by Cisco and conducted by InsightExpress, a
third-party market research firm based in the United States.
– Cisco commissioned the study to maintain its understanding of
present-day challenges that companies face as they strive to address
current and future employee and business needs amid increasing
mobility capabilities, security risks, and technologies that can
deliver applications and information more ubiquitously — from
virtualized data centers and cloud computing to traditional wired and
wireless networks.
– The global study consists of two surveys — one centering on college
students, the other involving young professionals in their 20s. Each
survey included 100 respondents from each of 14 countries, resulting
in a survey pool of 2,800 respondents.
– The 14 countries include the United States, Canada, Mexico, Brazil,
United Kingdom, France, Spain, Germany, Italy, Russia, India, China,
Japan, and Australia.
Supporting Quotes:
– Sujai Hajela, VP and general manager, wireless networking business
unit, Cisco: "The findings in the Cisco Connected World Technology
Report provide real-life insight into how information is accessed by
college students and young IT professionals and how business
communications are changing as a result. In addition to the impact on
business communications, the study provides proof that the next
generation of employees and their technology demands will influence
job decisions, hiring and a new age of work-life balance. How
businesses address these demands will inevitably affect their
competitive advantage and HR success. It is not just a technology
trend anymore — it's a business trend."
– Sheila Jordan, VP Communication and Collaboration IT, Cisco: "These
findings among college students and young employees indicate the
freedom to access social media and use devices is increasingly
important to the next generation of the world's workforce — in some
cases, more important than salary. The results in the Cisco Connected
World Technology Report demonstrate how companies need to acknowledge
this fact in greater numbers, and respond accordingly — for many
industries, the status quo of previous work environments is becoming a
thing of the past."
Supporting Resources
– Read more on the 2011 Cisco Connected World Technology Report:
www.cisco.com/go/connectedreport
– Watch an overview of the 2011 Cisco Connected World Technology
Report's findings, featuring an analysis by Cisco executives, along
with an infographic and video with highlights of the report at
www.cisco.com/go/connectedreport
– Read "Salary Has Company: Millennials' Workplace Demands for
Flexibility Rival Pay" on the Inside Cisco IT blog by Sheila Jordan,
VP of Communication and Collaboration IT
– Read "The Next-Gen Collaborator: Ready for a Mobile Workplace" on the
Collaboration blog by Eric Schoch, Senior Director for Cisco's Hosted
Collaboration Solution
– Read "Mobile Device Flexibility More Important Than Salary" on the
Mobility blog
– Review the findings from the 2010 Cisco Connected World Technology
Report, including press releases and Cisco TV broadcasts from last
year's survey: www.cisco.com/go/connectedreport
– Visit Cisco Borderless Networks website
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Cisco Connected World Technology Report, survey, college,
Millennials, newspapers, Twitter, Facebook, workforce, HR.
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About Cisco
Cisco (NASDAQ: CSCO) is the worldwide leader in
networking that transforms how people connect, communicate and
collaborate. Information about Cisco can be found at
http://www.cisco.com. For ongoing news, please go to
http://newsroom.cisco.com.
Cisco and the Cisco logo are trademarks or registered trademarks of
Cisco and/or its affiliates in the U.S. and other countries. A
listing of Cisco's trademarks can be found at
www.cisco.com/go/trademarks. Third-party trademarks mentioned are the
property of their respective owners. The use of the word partner does
not imply a partnership relationship between Cisco and any other
company.
Cisco Press Contact:
Ben Stricker
Cisco
408-527-3199
bstricke@cisco.com
Industry Analyst Contact:
Malee Dharmasena
Cisco
+44 20 8824 6931
mdharmas@cisco.com
Investor Relations:
Marilyn Mora
Cisco
408-527-7452
marilmor@cisco.com
SOURCE: Cisco
mailto:bstricke@cisco.com
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