Uploaded byKathy Kacher
Understanding the Value of On-Line Social Networks in Corporate America
The document discusses the rise of online social networks and their increasing use and value in corporate America. It provides examples of how some organizations like EY, IBM, and Dow Chemical are using social networks for recruiting, knowledge sharing, and maintaining relationships with employees. The document also addresses challenges of implementing social networks in organizations and questions around how companies are measuring their value and ensuring oversight and compliance.
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Understanding the Value of On-Line Social Networks in Corporate America
- 1. Understanding the Valueof On-Line Social Networks in Corporate America Michele Durkin, Thrivent Financial Sarah Rand, College of St. Catherine
- 2. What We PlanTo Talk About Today The Rise of On-Line Social Networks Social Networking Technologies Corporate On-Line Social Networking Applications Discussion - How are your organizations using social networking technology?
- 3. Your Thoughts onOn-Line Social Networks? Do you participate in any on-line social networks? Are on-line social networks of value to you?
- 4. The Rise ofOn-Line Social Networks: “Shift Happens” Created by Fisch, McLeod, & Bronman in 2006
- 5. What Is SocialSoftware - Web 2.0? Next generation of Internet technology Fosters communication & collaboration Strengthens existing & enables new connections End users can also be contributors Open flow of data - transparency Often bottom-up Tools are easy to use – anyone can use them
- 6. The Rise ofOn-Line Social Networks: Technology Is Just A Way of Life We’ve come to rely on the Internet to access information No longer just a preferred channel of communication for the tech-savvy and Gen Y’s “ If the power goes out, we go home”
- 7. The Rise ofOn-Line Social Networks: Increasing Levels of Collaboration Connect people with common interests and goals Provide emotional support and access to pertinent information “ People are connecting in ways we could have never imagined possible” -Oprah
- 8. The Rise ofOn-Line Social Networks: Gen Y’s Started This Conversation On-line social networks have moved beyond a form of communication - they are a way of life “ It’s like Christmas coming early if Facebook becomes unblocked at work” -CSC Student
- 9. Consumer & BusinessOn-Line Social Networks Intersect at LinkedIn Create & Extend Your Network Personal Profiles Search Directory Join Groups “ Ask” Function “ Is there still such a thing as the ‘old boy’s network? If so, what strategies would you recommend to succeed in spite of it?
- 10. Consumer & BusinessIntersect at www.lifemeetswork.com A clearinghouse for news and information on flexible work arrangements A sounding board and source of community for those seeking or managing flexible workplaces A virtual job fair to connect workers with employers offering flexible work Source: www.lifemeetswork.com
- 11. Social Networking Technologyfor Organizations Platforms used by organizations to make the practices and outputs of knowledge workers more transparent (McAfee - Enterprise 2.0) Includes tools that make it possible for users to search, connect, share, collaborate and track information Multiple users can generate widely visible content simultaneously McAfee, A. (2006). Enterprise 2.0: The Dawn of Emergent Collaboration, MIT Sloan Management Review, 47(3), 21-28.
- 12. Social Networking Technologyfor Organizations Connecting: User Profiles/Networking Sharing: Blogs, On-Line Forums Collaborating: Wikis/Ask Functions Key Goals: Relationship Building Learning & Knowledge Sharing
- 13. Organizations Are TryingTo Figure Out On-Line Social Networks 23% of businesses block access to Facebook 33% view Facebook as a major source of lost productivity Many view Facebook as a security risk. Sources: Challenger, Gray, & Christmas – Survey of 200 of HR Professionals Bersin & Associates
- 14. Organizations Are TryingTo Figure Out On-Line Social Networks The social software market is estimated to be $476 Million in 2008, up 72% from 2007 and $3-5 Billion by 2012. Companies are using Facebook and other social networking applications in a variety of ways. Source: David Mallon, Bersin & Associates
- 15. E&Y Uses FacebookAs A Recruiting & Knowledge Management Tool Launched first ever corporate recruiting page on Facebook Hosts Q&A Sessions on Twitter Encourages tech-savvy interns to create on-line videos to share their experiences
- 16. Corporate On-Line SocialNetwork Applications: Talent Management Find Expertise Career Navigation Professional Development
- 17. Corporate On-Line SocialNetwork Applications: Learning & Knowledge Sharing ID Best Practices Project Management Brainstorming & Innovation Capture Knowledge
- 18. On-Line Social NetworkApplications: Communities of Practice Target groups with limited access to social networks Mentoring Knowledge Sharing Building Social Capital Career Navigation
- 19. Launching Social SoftwareThrivent Business Case Today, women are redefining the marketplace and play a significant role in making major financial decisions for themselves and their family. Representation of women varies widely across our regional field offices. In some areas agents may be extremely isolated. In order to meet the needs of our membership we must build a more diverse workforce and connect them for success.
- 20. Launching Social SoftwareGoals of Creating a Network One cost effective manner to support this goal is to leverage available technology to create an online networking community for our women. By utilizing a social networking platform we will: Demonstrate Thrivent’s commitment to building diversity in the field. Provide networking opportunities to build social capital and support systems for isolated FAs. Create a venue of sharing, collaboration, and self development. Showcase role models of success and build leaders Facilitate mentoring and coaching experiences
- 21. Launching Social SoftwareBenefits Value Driver Benefits Attracting, Launching & Retaining Top Talent A magnet for recruiting and retaining top talent Improved access to mentors, knowledge, expertise Enhanced FA satisfaction “ being connected to organization ” Increased productivity and retention Creating a Better Brand & Experience A venue of support and learning opportunities A sense of community leading to strong brand ambassadorship Dissemination of targeted and consistent communications Low-cost, high-impact method for increasing engagement Improving Enterprise Knowledge Sharing Insights on field challenges in a collaborative environment Improved access to people and information required to get jobs done A platform to deliver training, build knowledge & skills A way to leverage “ Connections ” to develop great leaders
- 22. Launching Social SoftwareImplementation Challenges Privacy, Security Compliance & Oversight Costs Support & Mgmt Business Integration User Adoption & Corporate Culture
- 23. Social Software OversightIBM established a separate “new media” function within its corporate communication department to oversee IBM forums, wikis, blog, podcast/videocasts and collaborative technologies. According to IBM’s Philippe Borremans, “With wikis, we see that e-mail traffic among the team goes down by 20 to 30 percent”. Source: Weiss, Philip. 2007. Looking through the portal. Communication World (May-June).
- 24. More Applications: MarketIntelligence & Customer Outreach “ You’ll find women you can laugh with, relate to, empathize with, and learn from” – Sponsored by Proctor & Gamble www.capessa.com
- 25. More Applications: EmployeeSupport Networks Ernst & Young (2007) created a social network for families of children with special health-care needs. Regular conference calls Expert speakers from both within and outside the firm Private on-line message board Private space on the firm’s Intranet to help members gain access to important information and connect on a social level.
- 26. More Applications: ExtendedEmployee Relations Dow Chemical Co. uses on-line social networks to help it strengthen relationships with company alumni, retirees and employees on leave to minimize the disruption to Dow’s business Frauenheim, E. (2007). Social Revolution. Workforce Management , 86(18). Business Source Premier Database, http://web.ebscohost.com.
- 27. So What DoesIt All Mean? Which tools are your organizations using? How are you using them? Are your networks inside or outside your company firewall? Are you measuring value (ROI)? What factors contribute to success? What are the barriers?
- 28. Social Software ProvidersDirect vs. Consultant Full Service Vendors: IBM Stand Alone Software Providers: (Select Minds, Jive Space) Consumer Sites: (Facebook, LinkedIn, Ning) Existing Applications: MS Sharepoint
- 29. Conclusions: Best Practicesfor Launching Social Software Target the Right Audience & Business Need Build Internal Support (Leadership, IT, Legal, HR) Establish Leadership & Oversight Evaluate Usability Direct Content Question the Place for Anonymity