There are many benefits of investing in an internal, corporate social network, from increased employee engagement to improved interdepartmental communications. But what is it exactly? Let’s find out!
What is a corporate social network?
A corporate social network is a bit like social media for business. Staff post their thoughts, questions, and ideas in real time to a social feed on their intranet platform, and coworkers can reply with comments and reactions (such as “likes”).
People using social media in their leisure time will be well acquainted with how it works, meaning there is little to no training needed for using it in a corporate setting. The same features are available in corporate social media as its consumer counterpart, such as “likes”, comments, media sharing, and @mention tagging. The only difference is that the app is used within a professional rather than recreational capacity.
What are the benefits of corporate social media?
By investing in an internal social network, you can empower and encourage teams from across your organisation to take ownership of communicating with each other. More open internal communications can boost the employee experience by increasing productivity and improving clarity on company objectives.
Below we’ve listed the 5 key benefits of implementing an internal social network:
1. A corporate social network supports your onboarding process
When new employees join your business, providing them with a corporate social network will ensure they’re not left wondering who they need to speak to for certain information. This is because a corporate social network provides an open forum within which to ask questions. A post shared by a new hire can be seen and answered by different people throughout the business, creating a supportive community that will help new staff feel welcome.
In this way, a corporate social network becomes a “living” FAQs area, which will improve employees’ onboarding experience and sense of autonomy.
2. Corporate social networks provide a hub of knowledge
At times, staff will move on from a business. It’s inevitable, and with them, they’ll take the knowledge and experience they gained. This can be difficult to hand over to someone else, but by using your corporate social network as a place for employees to store and share information, you can drive innovation and expertise throughout your business.
In addition, using your corporate social network as a hub of knowledge will improve internal communication, because it brings people together who wouldn’t usually cross paths. Everyone from senior management to frontline staff can use the platform to share ideas and solutions, which will improve communication, increase efficiency, and even lead to better customer service.
3. Corporate social networks improve employee visibility
Internal social networking allows superstars throughout the business to shine, from apprentice to executive level. Giving employees the opportunity to share links, TED talks, thought leadership pieces, and interesting training videos is a great way to share talent and best practice internally.
It also gives staff the opportunity to raise their profile internally as they show enthusiasm for their role and the company above their everyday activity. It’s a fantastic way for people throughout the business to share something with their coworkers, helping everyone in the business feel that they are equally valued, which is key for employee satisfaction.
4. A corporate social network helps you promote your company values
It is proven that businesses who have a clear purpose and values are more successful than those who don’t. A company purpose and clear values statement helps to create a strong internal identity for people to embody and develop.
Your corporate social network is a fantastic place to display and promote your company’s purpose and values statements, helping your employees to engage with the key elements that drive your business.
Your corporate social network also gives your team the opportunity to share examples of colleagues who embody the values or examples when they’ve been used to help the company grow. Celebrating success is a great way to encourage increased involvement in the goals of the business.
5. A corporate social network connects your dispersed teams
Whether your teams work in the office, from home, or in a completely different continent to HQ, a corporate social network offers you the opportunity to integrate and share information with everyone.
Being able to share developments with a global team can increase your chances of gaining market share, helping you to beat your competition. It also helps you to integrate international expertise from people local to the geographies they’re working, who can offer input and advice on cultural and social differences.