Social media is going to be the fourth-largest source of risk over the next three years, on the same level as financial risk, according to a report from Deloitte and Forbes Insights.
Though social media is seen as driving innovation, it also puts companies at reputational and security risk. Employees may disclose important information unknowingly over their social networks.
Most executives in the survey didn’t monitor reputational risk continually, but instead checked in on a monthly or quarterly basis. But with the instantaneous nature of social media, that may not be enough.
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For tips on managing reputational risk, see Media Monitoring's Role In Managing Reputation Risk.