A company’s reputation is its biggest asset! Successful companies have always guarded their reputations at all costs. Corporate communications have always been very structured and deliberate and the messaging meticulously controlled by dedicated professional spokespersons.
That was before blogging, Twitter, Facebook and all the other new social media that gives all of your employees and customers a soapbox and a bullhorn with a global audience!
You’d be hard pressed to find someone these days who can argue against the impact that social media has had on the way that we conduct business. From customer support and advertising to internal controls and knowledge sharing, social media has changed the way we work and has changed the expectations of customers.
As we try to better understand how to use social media to our advantage, it’s important to consider managing the associated risks. We need to ensure that employees know the Dos and Don’ts and the potential impact on the company and them of going "off script."
Employment services leader Manpower recently released a study showing that only 29-percent of organizations in the Americas had set policies and procedures governing their employees’ use of social media. It’s pretty safe to say that more than 29-percent of these companies are using social media in one way or another to add value to their operations.
A social media policy, much like many risk management policies, is a simple way to inform employees on what to do to act in the best interest of the company and its stakeholders. To help you create your own policy to make the most of social media, we've compiled a list of elements that are vital to any social media policy.
10 Key Features of a Social Media Policy
3. Know your audience
5. Once it’s out, it’s out
6. Honesty in identity
7. Responding to criticism
9. Business outlook
10. Company time
As with any risk management policies, it is important to review and update your social media policy regularly. Social media is evolving quickly. New ways of communicating, new social networks, and new trends in best practices are emerging every day. Just as they present new business opportunities, they also bring new risks.
Keep your policy up to date and delegate someone within your organization as the contact to whom your employees can go with any social media-related questions and issues.
For more information or advice, ClearRisk would be happy to help! Our risk experts can help you manage reputational risk.
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