Social Media Risk Management

Every organization needs to think about and be prepared to manage the risks associated with operating in the Digital Era. It doesn’t matter whether social media is part of the organization’s strategic agenda, or if the organization itself has any digital presence. It also doesn’t matter how large the organization is, whether it’s for-profit, BtoB or BtoC, or which industry or sector it operates in.

This is a complex undertaking, and for many business leaders it’s virtually impossible to imagine how they’re going to find the resources to devote to it, especially in light of ongoing economic challenges and other strategic and tactical priorities.

 

Social Networking and the Risk to Global Business

The exponential growth of social networking outlets is posing new threats and challenges to businesses across the globe. With legions of employees using tools such as Facebook, Twitter and YouTube for messaging, blogging, and video posting on a daily basis, social networking has become a genuine risk to the ability of a business to stay productive and protect not only its most proprietary and confidential data, but also its brand.

Businesses are feeling the impact from employee social networking communication. Newly emerging issues surrounding social network communication, such as loss of intellectual property, compliance violations, and HR lawsuits, as well as productivity of the workforce all threaten the health of the business causing loss of revenue, reputation and potentially, customers. Corporations today are spending billions of dollars to mitigate such risks from email, instant messaging and other established methods of communication.

Recent market research reveals social networking related exposure incidents for US companies have increased to seventeen percent in 2009 from twelve percent in 2008, and is expected to continue to grow. In a separate market research report, twenty four percent of the companies indicated that they have disciplined an employee for his or her activities on Facebook, Twitter or LinkedIn. Guidelines and policy alone are not sufficient in eliminating the risks.

SOCIAL MEDIA GOVERNANCE

A sound social media governance model empowers employees while keeping them accountable. It allows quick recovery from a blow to your brand. C7group offers a complete governance package that includes social media policy written in compliance with current labor law, employee procedures and employee social media education. C7group also performs vendor and tool selection engagements to determine the appropriate solution for security, management, and compliance technology for monitoring and reporting of Web 2.0 and social networks alongside instant messaging and unified communications platforms.

Find out how governance can keep your social initiatives on track and aligned with your strategic goals by contacting the C7group below.

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