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Best Practices for Developing a Social Media Policy

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Best Practices for Developing a Social Media Policy

  1. 1. Developing a Social Media Policy Manish Mandhyan, CRCM, CAMS
  2. 2. For starters... • Blogs, social networks, and Twitter are communication tools - your approach to a social media strategy should ensure integration with your existing communications policy • If you think you do not need a social media strategy, think again!
  3. 3. Benefits of Embracing Social Media • Increasing brand recognition, sales, search engine optimization (SEO), web traffic, customer satisfaction, and revenue. • Rapid feedback and insight from customers • Organizations are able to monitor the market, their competition and their customers - resulting in proactive adjustments to strategies, products and services
  4. 4. Risks to consider • Risks of using social media as a business tool to communicate with customers • Risks of employee access to social media sites while on corporate network • Exposure of corporate network to insecure applications • Malicious use of social media information by outsiders
  5. 5. Six Factors: Consider before implementing a Social Media Policy Trust: Culture: Employees should be trusted Foster a corporate culture of to communicate with openness. customers Training: Transparency: Option of training about how Transparency and to blog, review legal issues authentication are key Comments: Accuracy: Expectations of what is Check facts a!owed should be clearly communicated
  6. 6. Elements of Social Media Policy • Personal Use in the Workplace • Standard disclaimers if identifying the employer • Whether it is allowed • The dangers of posting too much personal information • The nondisclosure/posting of business-related content • Business Use • The discussion of workplace-related • Whether it is allowed topics • Inappropriate sites, content or • The process to gain approval for use conversations • The scope of topics or information permitted to flow through this • Personal Use Outside the Workplace channel • The nondisclosure/posting of • Disallowed activities (installation of business-related content applications, games, etc(
  7. 7. Best Practices Create at least t wo policies as Use existing human Include the legal follows: resources and department in the 1. One policy that sets communications policies process but don’t let expectations and provides and develop new them drive the effort; boundaries for all employees, guidelines with the help and partner with the including any relevant of employees using social employee limitations or ideas for the media communications personal use of social media department 2. Operational guidelines for employees working in social media as part of their job Provide hyperlinks in Consider, define and Build your policies around your social media policy clearly communicate to job performance, not to all relevant policies employees what fuzzy concerns about and relevant contacts, information is productivity. If your such as email addresses appropriate or employees are checking of staff who handle inappropriate to disclose; Facebook at work, they press releases Use of trademarks, logos, are also checking work etc. email after dinner or at odd hours of the day.
  8. 8. References • www.socialmediagovernance.com • Social Media: Business Benefits and Security, Governance and Assurance Perspectives, An ISACA Emerging Technology White Paper. www.isaca.org/socialmedia • A Corporate Guide for Social Media - http:// www.forbes.com/2009/06/30/social-media- guidelines-inte!igent-technology-orei!y.html
  9. 9. About Manish Mandhyan is a Senior Manager Compliance with Hanagrove India Pvt. Ltd. (www.hanagrove.com). He is a Certified Regulatory Compliance Manager (CRCM) and a Certified Anti-Money Laundering Specialist (CAMS). He specializes in providing risk management consulting to financial institutions, primarily in the US regulatory framework. Prior to Hanagrove, Manish has worked in the compliance departments of some global financial institutions like ABN AMRO (now Royal Bank of Scotland) and HSBC. At ABN AMRO, he was instrumental in setting up a centralized AML investigation unit at their offshore center in India. He has an in-depth knowledge and hands-on experience in helping organizations improve their risk management processes, while assisting the business improve their cost and time arbitrage. Manish holds a Bachelor's in Computer Science from the Florida Institute of Technology and a Juris Doctor from the John Marshall Law School. More info: http://manishmandhyan.wordpress.com http://compliancesocialmedia.wordpress.com http://www.slideshare.net/ManishMandhyan http://in.linkedin.com/in/manishmandhyan http://www.twitter.com/ManishMandhyan http://www.wikihow.com/User:ManishMandhyan

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