9 Notable Insights from AMEX and Putnam on Social Media & Reputation

Author:

Do you know what “astroturfing” is? If not, read on to learn nine (9) notable insights I gleaned from an esteemed panel at Dow Jones Compliance Symposium discussing how to protect your company’s reputation on the social network:

From Mark Bisard, American Express:

1. Require legal counsel employees to get social media accounts so they are credible advisors.

2. Take the time to develop a comprehensive, collaborative social media policy that combines disparate policies spread across geographies. For example, It took AMEX a year and a half to work with all the right stakeholders to develop a great policy.

3. “Disclose and Disclaim”: Disclose who you work for and disclaim that your views are your own anytime you mention anything remotely related to the company.

4. Have a third-party vendor run social media background search on potential employees. Forbid hiring managers from googling candidates. Google searches can reveal protected classes and answers to other illegal questions.

5. Keep in mind, “the velocity of risk is the same as velocity of opportunity.”

6. Train, train, train.

From Mark McKenna, Putnam Investments:

7. Provide social media access to everyone (they will be using it anyway) BUT first put a rigorous policy and training in place to ensure they use it compliantly.

From Andrew Bleeker, Hill & Knowlton:

8. Remind people to conduct themselves appropriately DAY AND NIGHT because we are all connected all the time, not just during business hours.

And finally, notable number nine,

9. Find out what astroturfing is and know that the FTC has pursued companies using it.

What have you found to be critical best practices? Are you or your company employing any of these?

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