According to the 2012 Fortune 500 Social CEO Index compiled by CEO.com and Domo, 70% of Fortune 500 CEOs don’t have a presence on social media networks.
Two thirds of the top CEOs have less than 100 friends on Facebook, and surprisingly, over a quarter have only 1 or 0 connections on Linkedin.
With only one tweet to his credit, Warren Buffett is the least active CEO on Twitter, whereas not surprisingly, Google’s co-founder Larry Page is included in more than 2 million circles on Google+.
According to the McKinsey&Company research ‘The social economy: Unlocking value and productivity through social technologies,’ 72 percent of companies use social technologies in some way, but very few are anywhere near to achieving the full potential benefit, and in fact the most powerful applications of social technologies in the global economy are still largely untapped.
The McKinsey Global Institute (MGI) found that twice as much potential value lies in using social tools to enhance communications, knowledge sharing and collaboration within and across enterprises.
MGI’s estimates suggest that by fully implementing social technologies, companies have an opportunity to raise the productivity of interaction workers—high-skill knowledge workers, including managers and professionals—by 20 to 25 percent.
One of the reasons CEOs may shy away from social media might be because they may be attempting to avoid“foot-in-mouth disease” where they might write an inappropriate statement about their company, or worse, about a competitor's. CEO’s communications, whether they be corporate statements, speeches, email or social media, can become the basis for legal action. However, when used accordingly, social media can be a senior executive’s best ally.
Full report available here.