Posted on: March 9, 2015 by Renato Cachina
Social media use has grown at an unprecedented rate over the course of the last decade; starting as a way for friends to connect with their peers on campus, and turning into one of the leading outlets for marketing and advertising for companies nationwide. Over the past few years, company directors who are not already in the social media space have begun to wonder if they should be; while most companies do (and should) utilize social media platforms to support their business strategies, some wonder if doing so will increase their Directors & Officers risks.
What would the benefits be for a director, of implementing and allowing social media use throughout their company? According to the results of a recent Gallup poll as reported by Business2Community, many employees are unaware or confused by what the company they work for stands for when it comes to social media usage. Your clients may use social media to promote their brand, but without active engagement themselves personally on these platforms, employees can’t be expected to embrace social media for business uses and become unofficial ambassadors for their company.
Company directors can, and should be on social media. Why is this? If they are too keep up with the constant changes in business advertising, and social media’s involvement in those changes they must understand how it all works. They need to know how consumers today are connecting with brands, absorbing information, and engaging with each other using social media technologies. Companies should not just ‘be on social media’; they should be passionate about its use.
This is not to say company directors & officers shouldn’t be careful; there are certainly factors to take into consideration when it comes to employer, employee, and customer privacy. Employees should also be clear on what their company’s social media policies are, and ensure that they are always in compliance.
At ELM PL, we understand the risks your directors & officers face offline as well as online. We offer a number of comprehensive liability policies to meet all your clients’ needs. For more information, please contact us today at (888) 330-0696.