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Developing a Social Media Policy

Developing a Social Media Policy. Manish Mandhyan, CRCM, CAMS. 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

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Developing a Social Media Policy

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  1. Developing a Social Media Policy Manish Mandhyan, CRCM, CAMS

  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. 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 • Ability to search for and communicate with potential employees • Ease of use and measurement and ability to reach large populations instantly

  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 • Employee personal use of social media from home and personal computing devices - controversial!

  5. Six Factors: Consider before implementing a Social Media Policy Culture: Foster a corporate culture of openness. Trust: Employees should be trusted to communicate with customers Training: Option of training about how to blog, review legal issues Transparency: Transparency and authentication are key Accuracy: Check facts Comments: Expectations of what is allowed should be clearly communicated

  6. Elements of Social Media Policy • Personal Use in the Workplace • Whether it is allowed • The nondisclosure/posting of business-related content • The discussion of workplace-related topics • Inappropriate sites, content or conversations • Personal Use Outside the Workplace • The nondisclosure/posting of business-related content • Standard disclaimers if identifying the employer • The dangers of posting too much personal information • Business Use • Whether it is allowed • The process to gain approval for use • The scope of topics or information permitted to flow through this channel • Disallowed activities (installation of applications, games, etc( • The escalation process for customer issues.

  7. Best Practices Create at least two policies as follows: 1. One policy that sets expectations and provides boundaries for all employees, including any relevant limitations or ideas for the personal use of social media 2. Operational guidelines for employees working in social media as part of their job Use existing human resources and communications policies and develop new guidelines with the help of employees using social media Include the legal department in the process but don’t let them drive the effort; and partner with the employee communications department Provide hyperlinks in your social media policy to all relevant policies and relevant contacts, such as email addresses of staff who handle press releases Consider, define and clearly communicate to employees what information is appropriate or inappropriate to disclose; Use of trademarks, logos, etc. Build your policies around job performance, not fuzzy concerns about productivity. If your employees are checking Facebook at work, they are also checking work email after dinner or at odd hours of the day.

  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-intelligent-technology-oreilly.html

  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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