Financial information disclosure
Inappropriate disclosure of financial information has caused problems to a number of companies. Senior employees have used social media platforms to post 'informal' comments about company results, little realising that such posts are far from informal and may in fact constitute illegal activity.
Advertising and promotion
There are strict rules about advertising and promotion and it is important that these are followed by companies using social media. For instance if you retweet or publish a misleading post from a member of the public this could be construed as untrue advertising, even though your company didn't write the original post.
It is a good idea to have a Facebook page where the fun side of working for your company can be showcased to potential recruits. But, however informal Facebook feels, care needs to be taken that existing employees are not upset by content posted on these pages. There have already been successful cases for sex discrimination brought in the UK that resulted from colleagues' use of social media .
In addition, employers need to ensure than any social media policies are both fair and have been explained to their employees. There have already been a number of casees in the UK where employers have dismissed employees for inappropriate use of social media and have lost unfair dismissal cases due to inappropriate responses or failure to explain the policy adequately.