Developing a Social Media Policy

We've been grappling with a social media policy for the last couple of months. It's been an interesting process. Much of the content has been gleaned from other larger corporations who publish their policies. Our goal is to provide guidance to "official" bank social media participants as well as other employees as they engage in their social networks. Very challenging.

Let's face it. The line between business and personal is so blurred when you add in the social media component. Some of the questions we are dealing with are, for example, do you prohibit or simply discourage the use of social media sites during the work day? If so, how do you monitor this and what are the consequences if you are caught? These are just two examples of the challenges facing us in this highly regulated environment. I'd love to hear from others on how they are addressing these issues.