To explore how Americans view cryptocurrency as a form of compensation in the workplace, research and survey firm Skynova spoke to more than 1,000 working professionals, including 797 employees and 205 managers.
Skynova provides invoicing software for small businesses and in order to gauge interest and expertise regarding the new form of compensation, the company survey It included 46.9% of respondents who had already received cryptocurrency as compensation and 53.9% of respondents who did not.
Most of the employees are interested
The survey was sent out to investigate the general situation and explore how much working Americans would like to get paid in bitcoin and other cryptocurrencies. Do they see it as an advantage and would they quit their job to pursue a job that offered this kind of compensation?
65.5% of employees responded that they would be at least somewhat willing to receive compensation in cryptocurrency, with just over 28% rating themselves as “very willing.”
Employee demographics have emerged as an important factor since the survey revealed that 63% of millennials view compensation in cryptocurrencies as an advantage.
Less than 10% rated the idea of employers starting to offer their salaries in cryptocurrency as “very bad.”
Nearly a third of respondents said they would quit their current job to pursue another job that offers crypto compensation, although if their current employer started doing so, 42.2% would quit.
This attitude suggests that employees are more eager to pursue new forms of compensation themselves, rather than forcing them to do so.
When asked what cryptocurrency they would like to see on their paycheck, the majority of working Americans (74.3%) are in favor of Bitcoin (BTC), followed by Ethereum (ETH) and Dogecoin (dog).
According to the survey results, the most important benefit paid in cryptocurrency is the belief that it is the future of the currency, while other commonly perceived benefits of crypto-compensating include the potential for financial gain and income diversification.
The most important compensation flaws in cryptocurrencies emerged as market volatility, potential for financial losses, and limited acceptance.
The majority of hiring managers are willing
More than 200 respondents were managers, often responsible for hiring and compensation decisions.
With more than 77% of hiring managers saying they are at least somewhat willing to compensate their employees in crypto, these top companies have appeared more likely to sign up for a more crypto salary than the employees they would otherwise have.
In terms of hiring, cryptocurrency also played a big role, with 48.3% of those responsible for hiring employees reporting that they usually look to experience cryptocurrency.
When screening potential candidates, managers of small and large companies alike often look for coding experience, while medium-sized companies with 50 to 249 employees actually look for this type of experience more often.
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