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Interesting for sure and it confirms what we've known all along. Now let's see if big corporate culture accepts the notion.
I think someone running this "study" has a keen sense of the obvious! Hmm... let's see. Time it takes to call someone, hmm.. that's longer... time it takes to write and send email then receive a response, that's longer... IM - immediate direct response without even picking up a phone. WOW! Hello? I think some researcher need to justify his existance with this one.
When I worked for a software engineering firm a few years back, we used MSN Messenger. It was a small company of about 25 people, all under the age of 40 and very tech savvy.
I can honestly say that using the IM client in lieu of pointless meetings and the running back and forth really saved us all tons of wasted time and really improved productivity. Contrary to what some might think, no one abused it and chatted all day long.
It's always intrigued me at how the most strict companies with anal retentive policies tend to kill morale and sink worker productivity whereas all the companies that I've worked for which treated it's employees with respect and dignity, got more than their money's worth out of every employee.
I think that instant messaging can increase productivity. Especially if you have employees in different offices. It is much easier to carry on a conversation containing simple tasks, ideas, etc. via instant messaging than having to call a person every time you need to say something.
It's actually done in the enterprise more than we know. I know folks at Cisco that use it all the time to ping each other around the corporate campus.