Online social media has become a huge part of businesses and the professional world. With everything from Linkedin to MySpace and a litany of other sites there has been a new explosion in exploiting the benefits and ease of social media. Whether using a closed network within a company or a massive networking giant like Facebook there are a morass of ways to use these sources for building connections as well as advertising products and services. There are, however, some drawbacks to the use of social media.
Aside from the benefits of social media there are also some risks that have came to light in the explosion of its use. Using social media can put a company’s reputation at high risk because of outsider perception of employees that are openly associated with the company. How many times have you seen a Facebook page where someone openly displays their job and professional information, but still has radical posting on their wall? Some outsiders may look badly on the company for employing individuals that openly express such radical thought. Another major risk is creating a work environment that is too relaxed and creates the potential for employees to loose respect for their superiors. This risk may also be a big precursor to personal problems invading the workplace.
So how should companies address the risk associated with social media? There are a variety of ways to accomplish this, but most importantly businesses need to set forth clear guidelines explaining what is and is not acceptable. Lawrence Savell proposes fifteen tips to hedge against social media risk, which includes:
#1: Don't Be Fooled by Informality
#2: Know the Implications of Employee Posts
#3: Think Twice About Outside Submissions
#4 if You Make a Mistake. Fix It
#5: Never Make Promises You Can't Keep
#6: Monitor Your Online Presence
#7: Comply With Regulatory Requirements
#8: Follow Advertising Restrictions
#9: Appreciate Social Media's Global Reach
#10: Labeling It "Opinion|" Doesn't Make It So
#11: Qualify Your Language
#12: Use Appropriate Disclaimers
#13: Maintain Confidentiality
#14: Purchase Sufficient Liability Insurance
#15: Retain Counsel Before You Have a Problem
Whatever the method your company decides to use in its attempt to hedge against risk and oversee proper social media use, it’s a great idea to implement a plan before actively engaging in its use. Social media may be the next major change in business, and the earlier the risk is dealt with, the better it is for your organization.
Sources:
Cunningham, William H., and Jeff Hunt. "IBM's delicate social media balancing act." Risk Management 57.8 (2010): 30.Academic OneFile. Web. 24 Nov. 2010.
Savell, Lawrence. "15 tips to manage social media risks." Risk Management 57.8 (2010): 26+. Academic OneFile. Web. 24 Nov. 2010.
Social media does come with a significant amount of risk, and the use of social media in the workplace does require planning in order to minimize or hedge against these risks. However, the potential for companies who use social media as a marketing tool provides an upside that can not be ignored. The use of social media has resulted in increase sales and increase market share. The use of social media provides end users with value-added product/services. It has been shown that even developed and mature companies such as Nike have implemented social networks to their product line in order to increase market share by 13%. The potential for increase profit drives businesses to utilize social networks not only now but also in the future.
ReplyDeleteI agree that there is a lot of risk associated with using social media by businesses. A good example of that is BP's case. Where BP in order to restore their brand image aired and published examples of how they were trying to recompensate the oil spill. It actually backfired and there were thousands "boycott BP" fans joining this profile on facebook and posting negative comments. This shows how powerful and dangerous social media can be to business.
ReplyDelete