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An article relating to this blog post on Finextra:

CBA revises social media policy under pressure from staff and unions

Commonwealth Bank of Australia has bowed to pressure from staff and unions and amended the 'heavy-handed' elements of its unpopular social media policy.


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Is common sense a thing of the past now?

What has the world come to when an employer seeks to force employees to ‘shop' their friends' and family's negative feedback?  Draconian and Victorian management just cannot work in such an open and transparent world.  Management of organisations must realise that it is up to them to monitor and react to both positive and negative feedback in our flat and transparent world.

What are the hidden costs being seen to be dragged through the court of public opinion and then to surrender a partial position to what are basic employee and human rights? It not only must leave a sour taste for all concerned but further enhances a negative public image.

Be bold! Embrace social media, it is here to stay and no one can turn back the clock.  Regulated entities can easily work within jurisdictional guidelines and also make the internal tweeters, bloggers and facebookers a part of their marketing effort and message.

The old adage remains correct.  Every day your most important asset walks in through the front door in the morning and out again in the evening.  Every one of those assets has the potential to enhance your brand, products and bottom line.

Along with common sense, we must uphold the values of respect and transparency.  With basic principles in place the boards of all organisations will suddenly find that their colleagues can be a powerhouse that drive their business forward dynamically. 

The big question is which bank will really open up first?

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Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 27 May, 2011, 13:26Be the first to give this comment the thumbs up 0 likes

Instead of hiring a couple of dedicated employees to do this job, they probably thought they could save some money, 'ignite creativity' and 'foster collaboration' by "crowdsourcing" the activity to their own huge workforce. Too bad, their employees didn't see it that way! 

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This post is from a series of posts in the group:

Innovation in Financial Services

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