Survey: 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 a 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, developed by Accountemps, 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 information    11%
Posting negative comments about company    10%
No concerns    10%
Don’t know / no answer    1%
* responses do not total 100% due to rounding.

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%

“Many companies are still evaluating the risks and rewards of allowing employees to access social media websites at work,” said Max Messmer, chairman of Accountemps and author of Human Resources Kit For Dummies®. “Firms with concerns about employees wasting time online while at the office can encourage appropriate online activity by developing and establishing a set of consistent guidelines.”

Messmer also pointed out, “More executives are seeing value in employees using social media sites such as Facebook and Twitter for business purposes like promoting a product or service or connecting with target audiences. Employees in customer-facing roles, for example, can leverage these networks to communicate directly with customers and quickly address service issues as they arise.”