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The stories of social media fails are legendary—companies using inappropriate humor regarding serious social issues, typographical errors, or pop references that backfire.

These examples represent reputational issues that can affect your company’s brand and its sales.

The mistakes in social media marketing that make the headlines can obscure other forms of risks presented by social media, namely privacy violations, security breaches, unauthorized use of intellectual property and employment-based claims, among others.¹

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Liability Risks of Social Media

The risks that social media introduce to your business are generally not new risks, but conventional risks that are delivered in a more modern way.

In order to help manage the risks presented by social media use by your business, you should:

  • Create a social media policy for your company. Develop one for employees using social media for their job and another for employees using social media in their personal lives.
  • Don’t create your policy in a vacuum. Rely on the diverse talents of your employees.
  • Limit social media to designated spokespersons for better control over messaging.
  • Train all employees on your social media policy.

These risks may be covered by your existing business liability insurance, provided through a rider on your current policy, or obtained through the purchase of specialized coverage. Speak with your insurance agent to learn how to make sure you are adequately protected against the business risks of social media.

  1. The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation.

 

 

This material was prepared by Broadridge Investor Communication Solutions, Inc., and does not necessarily represent the views of The Retirement Group or FSC Financial Corp. This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.

 

The Retirement Group is not affiliated with nor endorsed by fidelity.com, netbenefits.fidelity.com, hewitt.com, resources.hewitt.com, access.att.com, ING Retirement, AT&T, Qwest, Chevron, Hughes, Northrop Grumman, Raytheon, ExxonMobil, Glaxosmithkline, Merck, Pfizer, Verizon, Bank of America, Alcatel-Lucent or by your employer. We are an independent financial advisory group that specializes in transition planning and lump sum distribution. Please call our office at 800-900-5867 if you have additional questions or need help in the retirement planning process.

 

The Retirement Group is a Registered Investment Advisor not affiliated with FSC Securities and may be reached at www.theretirementgroup.com.


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Tags: Financial Planning, Lump Sum, Pension, Retirement Planning