Social Media

Social Media in Regulated Industries … and Facebook for Banks

Regulated and compliance-heavy industries — such as finance, pharmaceuticals, consulting, government and healthcare — often fear that those blocks make social media use and social learning nearly impossible.

A recent participant in the Social Learning Boot Camp told us, “I have been so stuck in the mindset that social media for training wouldn’t work because of compliance.” Another participant realized that obstacles to implementing social learning are shared by most organizations: “All companies – regulated or not – are struggling with social ‘anything’.”

Yet people such as Andrew Wolff, educational methods leader at PricewaterhouseCoopers, and Robert Campbell, chief learning officer at Cerner Corporation (see more), helped boot camp participants understand that you CAN implement successful social learning initiatives despite many constraints.

In her recent Mashable piece, Zoe Fox explores “5 Best Practices for Financial Institutions on Facebook”:

  1. Don’t Just Talk About Banking
  2. Host Contests
  3. Offer Career Advice
  4. Be Cool
  5. Show Off Your Good Work

How are you overcoming blocks and obstacles to implement social media and social learning in regulated and compliance-filled workplaces?

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1 Comment

  1. A friend of mine works at a financial institution and they cannot do anything on linkedin. The regulations around giving financial advice are stringent, so just saying something like “that’s a great company” to someone who you have not vetted as to their financial situation and status can put them at risk of legal trouble.

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