Thursday, November 4, 2010

CFOs Concerned About Time Waste but Also See Business Benefits in Social Media Use

As social media makes its way into the workplace, executives are weighing the potential risks and benefits. Approximately half (51 percent) of chief financial officers (CFOs) interviewed recently for an Accountemps survey said their greatest concern is that employees are wasting time during business hours using sites such as Facebook and Twitter. CFOs also expressed worries their staff may behave unprofessionally or post inappropriate information online. However, three in 10 financial executives (28 percent) said using these sites can improve customer service.

The survey was developed by Accountemps, a staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and is based on interviews with responses from more than 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.

CFOs were asked, "What is your greatest concern for your company regarding employees using social media?" Their responses:

Wasting time at work - 51%
Behaving unprofessionally - 18%
Posting financial/confidential company information - 11%
Posting negative comments about company - 10%
No concerns - 10%
Don't know/no answer - 1%

CFOs were asked, "What is the greatest benefit to your company of employees using social media?" Their responses:

Provide better customer service - 28%
Enhance company's reputation - 22%
Expand networks of valuable contacts - 20%
Can secure new business - 18%
No benefits - 10%
Don't know/no answer - 2%

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