Optional/intermittent instant chat (like IRC) is great for watercooler-like social bonding of geodistributed team members. Especially if it's ephemeral, not something that's logged/monitored, and not too accessible to any boss.

For very work-related, rapid, interactive communication, mandatory instant chat can also work for on-duty/on-call devops/sysadmin stuff, which is accustomed to being very interrupt-driven.

For workers doing nontrivial analysis/design/programming, often requiring flow states, my only real-world data point for *mandatory* instant chat for top developers was that it was hated, and seemed very counterproductive. (Eventually, the manager responsible for the hated practice blew up in a different way.)

For workers doing nontrivial analysis/design/programming, I've seen cases in which *optional&intermittent* instant chat was sometimes good. But two things to be aware of:

* If you want to not lose organizational knowledge that might've otherwise appeared in email, you will be tempted to capture all the instant chat for the organization/project. But if you capture it, you risk killing much of the watercooler team bonding. (Well, maybe new college grads might not feel a chilling effect, but I bet most them eventually will realize why they should've.)

* When the instant chat is available, it will tend to siphon off some important knowledge/interaction that otherwise would've happened on the email list or other non-instant modality, and might've been better there.

In general, for developers, I would usually choose to have email (and code/docs/wiki) for important things and knowledge, and ephemeral instant chat available for optional/intermittent watercooler bonding. (But this doesn't apply to organizations in which you don't/shouldn't trust your colleagues, or even much like them. Which is a lot of dotcoms in the Bay Area convention of loyalty-free job-hopping, and bubble IPO-hopping. I wouldn't know a good thing to advise for that kind of organization, except for some people to hop once more, to a more warm-fuzzy organization. :)

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