Converting Old Policies Into New Value

Firms that have social media on the radar most often use formal policies to guide their use in the workplace. This article is based on a study of 40 companies from a variety of industries, sectors and geographies, analyzing comprehensive policy documents that cover a wide range of social media tools and uses. The authors identify 18 recurring policy themes, which can be classified into three general categories: those dealing with risk mitigation; those providing guidance on various aspects of social media use; and those aimed at generating business value through social media. In analyzing the distribution and relative importance of themes, most organizations appear to adapt existing policies instead of treating the new media on their own terms. They are overwhelmingly focused on mitigating perceived risks at the expense of value creation. Companies must take a more mindful approach toward social media, say the authors. They offer advice on creating strategic policies that will generate value for employees and customers in the long term.