BoardroomDirect ®

Update on the current board issues: December 2014

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Management and board oversight of social media

Companies continue to measure the risks and rewards of social media. Whether or not they participate in the myriad of social media channels, directors are becoming more aware of the potential risks and the importance of social media policies.

In PwC’s 2014 Annual Corporate Directors Survey, 41% of directors say they are now at least moderately engaged in overseeing the company’s monitoring of social media for adverse publicity–compared to 31% in 2012. There was also an 11 percentage point increase (to 42%) in the number of directors who are at least somewhat engaged in overseeing employee social media training and policies.

This development is not surprising when you consider that, according to PwC’s State of Compliance 2014 Survey, by 2020 each person will have more than six devices with which they can communicate using social media. Nearly 90% of those compliance executives surveyed said they have an employee social media policy, up from 65% in 2013.

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