What's the Latest Development?

A new report which examines the use of social media within the corporate structure has found that high-growth companies are typically the most aggressive in embracing social media. The data, which were based on a survey of 2,700 business professional across seven European countries, show that "81% of high-growth companies—those with more than 10% growth in 2011—already using social-media tools said the tools have had a 'significant' impact on growth and expansion." The report also shows that employees who used social media the most frequently were more likely to be promoted. 

What's the Big Idea?

While the report shows employee enthusiasm for social media, it does not imply that adopting the technology in your office will necessarily put your business on the fast track to success. Companies in Spain and Italy, for example, were more likely to use social media than Germany businesses, while the economy of the latter country grew and the former economies contracted. Alas, nothing seems to beat diligence and hard work. Using social media, however, is a strategy to "unlock corporate knowledge, enhance internal communication and drive bottom-line growth." 

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