Social media has now become a permanent fixture of our lives, but that doesn’t mean we’re altogether comfortable with it. And for compliance professionals, there is a constant and changing range of risks, reports Kortney Nordrum, Regulatory Counsel & Chief Compliance Officer for Deluxe. She will be leading the session “Social Media: Old Platforms, New Risks” at the 2021 SCCE Compliance & Ethics Institute.
To understand the risks, in this podcast we take a look at several different types, starting with the organization’s own social media activities. She advises that, despite the informality of social media, companies need to think through their communications like they would advertising or PR: professionally. That means using appropriate language, checking the hashtags to make sure that they aren’t being used elsewhere online where the meaning may be inappropriate, and having someone responsible for the activity. It also means having a defined objective and a method for measuring if the social media is achieving what it is supposed to.
Organizations should also engage in what she calls “social listening”: seeing what others are saying about you online. Visit sites such as Facebook, Twitter, LinkedIn, Glassdoor, Yelp, Amazon and Google reviews. Use them to understand how people are interacting with your organization and their experiences.
When it comes to looking at what employees are doing online, she cautions that the National Labor Relations Act covers a wide range of employee activities and protects them. Generally speaking, the National Labor Relations Board has found that employees have the right to complain online about compensation and work conditions.
Also, exercise caution when reacting to that bikini-clad photo on Facebook. There’s probably nothing you can or should do about it.
Be cautious, too, about the new platforms that have emerged. Their data practices may be cause for concern.
Finally, she recommends using social media as a means for compliance teams to connect with the business people. It provides opportunity to engage with them both in a formal professional way, as well as informally.
Listen in to learn more, and be sure to catch her session “Social Media: Old Platforms, New Risks” at the 2021 SCCE Compliance & Ethics Institute.