The online study of 438 executives was conducted in July. Fifty-one percent of those surveyed said they fear social media could be detrimental to employee productivity. Additionally, 49% said that using social media could damage a company's reputation.
At the same time, 81% of respondents said social media can enhance relationships with customers; 69% said social networking can aid recruitment; and 64% said it can function as a customer service tool.
About 70% said their companies said they plan to increase their use of social media. However, only one in three businesses surveyed has a policy in place to govern social media use, and only 10% said they have conducted relevant employee training.