CEOs On Social Media: Do As I Say, Not As I Do

Steve Olenski

As a parent I, of course, have tried to instill a set of rules for my children to adhere to as a means to teach them as they move along the growth ladder. All parents instill their own set of rules and values and so on to help guide the instruct their children, right?

Well let’s say that when my kids were younger, say around 3, I hung up a sign in the kitchen that read: “Don’t Touch A Hot Stove.” I made the sign big, bright and bold so they could not miss it every time they walked into the kitchen. And they followed the rule and never touched the hot stove.

Now let’s say one time they walked into the kitchen and there I was touching the hot stove, burning my fingers, screaming in pain.

“Daddy, you told us to never touch the hot stove. Why did you touch it?”

“Um, well… it’s different for grown ups.”

“Oh, I see… you want me to get mommy so she can take you to the hospital?”

While this may not be the best analogy, the point is very clear that when it comes to social media and the use thereof, far too many CEOs are telling their employees – and the rest of the world for that matter – that they know their company needs to be “doing it” yet simply do not practice what they preach.

What CEOs Are Saying To Their “Kids”

“As a percentage of overall marketing budgets, spending on social media is expected to increase 17.5% over the next five years.” That comes directly from a study conducted last year by Duke University’s Fuqua School of Business of nearly 250 top executives.

From an infographic put out by which reveals recent findings on how corporations are using social media. Note, how “corporations” are using social media, not those running them.

  • 94% of corporations are using social media in one way, shape or form
  • 85% credit social media for providing increased exposure to their business
  • 74% indicated an increase in website traffic thanks to as little as 6 hours a week on social media
  • 58% say it’s use for lead generation & developing brand loyalty
  • 65% say social media is key to learning about their competition

As to their preferred social media networks… Infographic: Favorite Social Media Tools

No great surprise there.

Ok, this all looks great, right? CEO’s are investing more in social media and corporations are “getting” social media and realizing that is not a fad, is here to stay and to stay alive in today’s world, one better “get” social media.

What CEOs Are Actually Doing

Just last week I wrote an article on Josh James, his company Domo and the now infamous #domosocial experiment. Josh is the living embodiment of a CEO who “gets” social media so I definitely urge you to read about his groundbreaking experiment.

Josh and his company recently teamed up with to conduct a survey on Fortune 500 CEOs and their use of social media. Josh wrote about the findings of the survey which clearly revealed that a very large number of CEOs are “touching the hot stove” as 70%, yes 70% of all Fortune 500 CEOs have no presence of any kind on social media.

“You kids get to getting on FacebookTwitter and Pinterest and all that good stuff. I’m far too busy to spend my time engaging with the very people who keep us in business.”

The obligatory infographic from the Domo and survey: Infographic: Are Fortune 500 CEOs Social?
It really is mind-blowing and in fact quite hypocritical when you get right down to it when you consider the fact that CEOs openly acknowledge the importance of the use of social media for their companies yet don’t see the need to be socially active themselves.

Yes, I saw the stat that read the number of CEOs using social media is expected to grow to 57% from the current 16% in 3 – 5 years but I will believe that when I see it. And by the looks of things, I won’t be seeing in 3 , 5, 7 or even 10 years. Sorry, not buying it.

I want to leave you with quotes from Josh’s article and also one from David K. Williams who recently penned CEOs and Social Media — How Much is Too Much?

From Josh’s aptly titled article CEOs Afraid Of Going Social Are Doing Shareholders A Massive Disservice:

“It is my hope that CEOs come to believe in the transformative power of social media.  But if they persist in lagging far behind the general population in social media participation and not delivering value to the shareholders that is there for the taking, they may not be CEOs for much longer.”

From David’s article:

“If we haven’t convinced you yet (of the importance of social media), consider these two results from the BRANDFog 2012 CEO Survey as the final clincher: More than 82% of respondents are likely or much more likely to trust a company whose CEO and team engage in social media. And an amazing 77% of respondents are likely or much more willing to buy from a company whose mission and values are defined through their leaderships’ involvement in social media.

The conclusion is clear: Any leader who isn’t engaged in social media today is like the leaders of 50 years ago who insisted on sending a telegram instead of dialing a phone.”

Source: Forbes

Named one of the Top 100 Influencers In Social Media (#41) by Social Technology Review, Steve Olenski is a freelance writer/blogger currently looking for full-time work. He has worked on some of the biggest brands in the world and has over 20 years experience in advertising and marketing. He lives in Philly and can be reached via email,TwitterLinkedIn or his website.


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13 Scary Statistics On Employee Engagement [INFOGRAPHIC]

Jacob Shriar

There is a serious problem with the way we work.

Most employees are disengaged and not passionate about the work they do. This is costing companies a ton of money in lost productivity, absenteeism, and turnover. It’s also harmful to employees, because they’re more stressed out than ever.

The thing that bothers me the most about it, is that it’s all so easy to fix. I can’t figure out why managers aren’t more proactive about this. Besides the human element of caring for our employees, it’s costing them money, so they should care more about fixing it. Something as simple as saying thank you to your employees can have a huge effect on their engagement, not to mention it’s good for your level of happiness.

The infographic that we put together has some pretty shocking statistics in it, but there are a few common themes. Employees feel overworked, overwhelmed, and they don’t like what they do. Companies are noticing it, with 75% of them saying they can’t attract the right talent, and 83% of them feeling that their employer brand isn’t compelling. Companies that want to fix this need to be smart, and patient. This doesn’t happen overnight, but like I mentioned, it’s easy to do. Being patient might be the hardest thing for companies, and I understand how frustrating it can be not to see results right away, but it’s important that you invest in this, because the ROI of employee engagement is huge.

Here are 4 simple (and free) things you can do to get that passion back into employees. These are all based on research from Deloitte.

1.  Encourage side projects

Employees feel overworked and underappreciated, so as leaders, we need to stop overloading them to the point where they can’t handle the workload. Let them explore their own passions and interests, and work on side projects. Ideally, they wouldn’t have to be related to the company, but if you’re worried about them wasting time, you can set that boundary that it has to be related to the company. What this does, is give them autonomy, and let them improve on their skills (mastery), two of the biggest motivators for work.

Employees feel overworked and underappreciated, so as leaders, we need to stop overloading them to the point where they can’t handle the workload.

2.  Encourage workers to engage with customers

At Wistia, a video hosting company, they make everyone in the company do customer support during their onboarding, and they often rotate people into customer support. When I asked Chris, their CEO, why they do this, he mentioned to me that it’s so every single person in the company understands how their customers are using their product. What pains they’re having, what they like about it, it gets everyone on the same page. It keeps all employees in the loop, and can really motivate you to work when you’re talking directly with customers.

3.  Encourage workers to work cross-functionally

Both Apple and Google have created common areas in their offices, specifically and strategically located, so that different workers that don’t normally interact with each other can have a chance to chat.

This isn’t a coincidence. It’s meant for that collaborative learning, and building those relationships with your colleagues.

4.  Encourage networking in their industry

This is similar to number 2 on the list, but it’s important for employees to grow and learn more about what they do. It helps them build that passion for their industry. It’s important to go to networking events, and encourage your employees to participate in these things. Websites like Eventbrite or Meetup have lots of great resources, and most of the events on there are free.

13 Disturbing Facts About Employee Engagement [Infographic]

What do you do to increase employee engagement? Let me know your thoughts in the comments!

Did you like today’s post? If so you’ll love our frequent newsletter! Sign up here and receive The Switch and Shift Change Playbook, by Shawn Murphy, as our thanks to you!

This infographic was crafted with love by Officevibe, the employee survey tool that helps companies improve their corporate wellness, and have a better organizational culture.


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Supply Chain Fraud: The Threat from Within

Lindsey LaManna

Supply chain fraud – whether perpetrated by suppliers, subcontractors, employees, or some combination of those – can take many forms. Among the most common are:

  • Falsified labor
  • Inflated bills or expense accounts
  • Bribery and corruption
  • Phantom vendor accounts or invoices
  • Bid rigging
  • Grey markets (counterfeit or knockoff products)
  • Failure to meet specifications (resulting in substandard or dangerous goods)
  • Unauthorized disbursements

LSAP_Smart Supply Chains_graphics_briefook inside

Perhaps the most damaging sources of supply chain fraud are internal, especially collusion between an employee and a supplier. Such partnerships help fraudsters evade independent checks and other controls, enabling them to steal larger amounts. The median loss from fraud committed
by a single thief was US$80,000, according to the Association of Certified Fraud Examiners (ACFE).

Costs increase along with the number of perpetrators involved. Fraud involving two thieves had a median loss of US$200,000; fraud involving three people had a median loss of US$355,000; and fraud with four or more had a median loss of more than US$500,000, according to ACFE.

Build a culture to fight fraud

The most effective method to fight internal supply chain theft is to create a culture dedicated to fighting it. Here are a few ways to do it:

  • Make sure the board and C-level executives understand the critical nature of the supply chain and the risk of fraud throughout the procurement lifecycle.
  • Market the organization’s supply chain policies internally and among contractors.
  • Institute policies that prohibit conflicts of interest, and cross-check employee and supplier data to uncover potential conflicts.
  • Define the rules for accepting gifts from suppliers and insist that all gifts be documented.
  • Require two employees to sign off on any proposed changes to suppliers.
  • Watch for staff defections to suppliers, and pay close attention to any supplier that has recently poached an employee.

About Lindsey LaManna

Lindsey LaManna is Social and Reporting Manager for the Digitalist Magazine by SAP Global Marketing. Follow @LindseyLaManna on Twitter, on LinkedIn or Google+.


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The Future Of Supplier Collaboration: 9 Things CPOs Want Their Managers To Know Now

Sundar Kamak

As a sourcing or procurement manager, you may think there’s nothing new about supplier collaboration. Your chief procurement officer (CPO) most likely disagrees.
Forward-thinking CPOs acknowledge the benefit of supplier partnerships. They not only value collaboration, but require a revolution in how their buying organization conducts its business and operations. “Procurement must start looking to suppliers for inspiration and new capability, stop prescribing specifications and start tapping into the expertise of suppliers,” writes David Rae in Procurement Leaders. The CEO expects it of your CPO, and your CPO expects it of you. For sourcing managers, this can be a lot of pressure.

Here are nine things your CPO wants you to know about how supplier collaboration is changing – and why it matters to your company’s future and your own future.

1. The need for supplier collaboration in procurement is greater than ever

Over half (65%) of procurement practitioners say procurement at their company is becoming more collaborative with suppliers, according to The Future of Procurement, Making Collaboration Pay Off, by Oxford Economics. Why? Because the pace of business has increased exponentially, and businesses must be able to respond to new market demands with agility and innovation. In this climate, buyers are relying on suppliers more than ever before. And buyers aren’t collaborating with suppliers merely as providers of materials and goods, but as strategic partners that can help create products that are competitive differentiators.

Supplier collaboration itself isn’t new. What’s new is that it’s taken on a much greater urgency and importance.

2. You’re probably not realizing the full collective power of your supplier relationships

Supplier collaboration has always been a function of maintaining a delicate balance between demand and supply. For the most part, the primary focus of the supplier relationship is ensuring the right materials are available at the right time and location. However, sourcing managers with a narrow focus on delivery are missing out on one of the greatest advantages of forging collaborative supplier partnerships: an opportunity to drive synergies that are otherwise perceived as impossible within the confines of the business. The game-changer is when you drive those synergies with thousands, not hundreds of suppliers. Look at the Apple Store as a prime example of collaboration en masse. Without the apps, the iPhone is just another ordinary phone!

3. Collaboration comes in more than one flavor

Suppliers don’t just collaborate with you to provide a critical component or service. They also work with your engineers to help ensure costs are optimized from the buyer’s perspective as well as the supplier’s side. They may even take over the provisioning of an entire end-to-end solution. Or co-design with your R&D team through joint research and development. These forms of collaboration aren’t new, but they are becoming more common and more critical. And they are becoming more impactful, because once you start extending any of these collaboration models to more and more suppliers, your capabilities as a business increase by orders of magnitude. If one good supplier can enable your company to build its brand, expand its reach, and establish its position as a market leader – imagine what’s possible when you work collaboratively with hundreds or thousands of suppliers.

4. Keeping product sustainability top of mind pays off

Facing increasing demand for sustainable products and production, companies are relying on suppliers to answer this new market requirement.

As a sourcing manager, you may need to go outside your comfort zone to think about new, innovative ways to collaborate for achieving sustainability. Recently, I heard from an acquaintance who is a CPO of a leading services company. His organization is currently collaborating with one of the largest suppliers in the world to adhere to regulatory mandates and consumer demand for “lean and green” lightbulbs. Although this approach was interesting to me, what really struck me was his observation on how this co-innovation with the supplier is spawning cost and resource optimization and the delivery of competitive products. As reported by Andrew Winston in The Harvard Business Review, Target and Walmart partnered to launch the Personal Care Sustainability Summit last year. So even competitors are collaborating with each other and with their suppliers in the name of sustainability.

5. Co-marketing is a win-win

Look at your list of suppliers. Does anyone have a brand that is bigger than your company’s? Believe it or not, almost all of us do. So why not seize the opportunity to raise your and your supplier’s brand profile in the marketplace?

Take Intel, for example. The laptop you’re working on right now may very well have an “Intel inside” sticker on it. That’s co-marketing at work. Consistently ranked as one of the world’s top 100 most valuable brands by Millward Brown Optimor, this largest supplier of microprocessors is world-renowned for its technology and innovation. For many companies that buy supplies from Intel, the decision to co-market is a strategic approach to convey that the product is reliable and provides real value for their computing needs.

6. Suppliers get to choose their customers, too

Increased competition for high-performing suppliers is changing the way procurement operates, say 58% of procurement executives in the Oxford Economics study. Buyers have a responsibility to the supplier – and to their CEO – to be a customer of choice. When the economy is going well, you might be able to dictate the supplier’s goods and services – and sometimes even the service delivery model. When times get tough (and they can very quickly), suppliers will typically reevaluate your organization’s needs to see whether they can continue service in a fiscally responsible manner. To secure suppliers’ attention in favorable and challenging economic conditions, your organization should establish collaborative and mutually productive partnerships with them.

7. Suppliers can help simplify operations

Cost optimization will always be one of your performance metrics; however, that is only one small part of the entire puzzle. What will help your organization get noticed is leveraging the supplier relationship to innovate new and better ways of managing the product line and operating the business while balancing risk and cost optimization. Ask yourself: Which functions are no longer needed? Can they be outsourced to a supplier that can perform them better? What can be automated?

8. Suppliers have a better grasp of your sourcing categories than you do

Understand your category like never before so that your organization can realize the full potential of its supplier investments while delivering products that are consistent and of high quality. How? By leveraging the wisdom of your suppliers. To be blunt: they know more than you do. Tap into that knowledge to gain a solid understanding of the product, market category, suppliers’ capabilities, and shifting dynamics in the industry, If a buyer does not understand these areas deeply, no amount of collaboration will empower a supplier to help your company innovate as well as optimize costs and resources.

9. Remember that there’s something in it for you as well

All of us want to do strategic, impactful work. Sourcing managers with aspirations of becoming CPOs should move beyond writing contracts and pushing PO requests by building strategic procurement skill sets. For example, a working knowledge in analytics allows you to choose suppliers that can shape the market and help a product succeed – and can catch the eye of the senior leadership team.

Sundar Kamak is global vice president of solutions marketing at Ariba, an SAP company.

For more on supplier collaboration, read Making Collaboration Pay Off, part of a series on the Future of Procurement, by Oxford Economics.


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Five Reasons Why Social Collaboration Should Be Part Of Your Digital Transformation

Daisy Hernandez

Digital collaboration technology has revolutionized how we communicate and live our lives. The digital network – powered by search, social, and gamification technologies – has enabled the easy and rapid sharing of knowledge globally. Now it is easy to communicate and collaborate with others no matter their location, time zone, or geography.

In a business context, these same technologies are powering benefits across an organization. By connecting business areas, vital information needed to make critical decisions is no longer siloed and disjointed. Add to this the ability to incorporate business data, and decisions are now not only made collaboratively, but are informed by the latest business-critical information and data, whether it is back-end customer or financial data. This is where the real business benefits start to emerge.

Gartner predicts that 50% of large organizations will use internal social networks resembling Facebook by 2016. Thirty percent of these technologies will be considered to be as essential as email and telephones. Digital transformation is underway, and by using collaboration technology with integrated business data, businesses are starting to see staggering benefits.

Social collaboration: Going beyond information sharing

One of the most well-known benefits of social collaboration in a corporate environment is faster and tighter alignment during a project or process. However, a recent study conducted by Forrester Consulting indicates that the advantages run deep, and run throughout the enterprise. The following are five business benefits collaboration can deliver to your business today.

  1. Boost win rates and accelerate the sales cycle. The average sales deal requires a team effort, with individuals and knowledge that live outside the sales department. A Web-based network, accessible through any device, helps win new business and generate more revenue. By pulling expertise, information, and customer data together in one place, sales reps are able to collaborate within and outside of their organization to respond more quickly and accurately to incoming customer questions and needs.
  1. Improve the quality of onboarding and speed new hires’ time to productivity. Social solutions bring together people from across the organization as they collaborate on projects or teams. When a new hire joins the company, this community enables quick ramp-up as the new hire is able to quickly locate and connect to the experts and information they need to complete their job responsibilities. Add to this the fact that this solution houses the collective genius and lessons learned of the organization, and the result is a dynamic, continuous learning culture.
  1. Deliver unparalleled customer experience – every time. Whenever you can provide anyone on the front lines with the full customer story, everyone wins. Knowledge networks ensure that no matter who is interacting with the customer, they have the complete picture. Integrating backend data with real-time collaboration ensures that they are prepared with the latest data at their fingertips to understand the status of a current or prospective customer. For the customer, this means a seamless experience that is always informed, relevant, and meets their needs.
  1. Support business processes that are truly efficient, transparent, and accessible 24×7. Whether you are involved in marketing, IT, finance, or supply chain operations, it is not uncommon for employees to get lost in email chains and outdated spreadsheets and reports. If the ability to collaborate resides in a central location, existing business processes can be improved and supported. More important, taking this network into the mobile world helps ensure that employees have the information they need any time and anywhere.
  1. Create a future of work that appeals to young talent. Knowledge networks can be a cultural tool that not only serves the business, but also answers the needs of our youngest talent. For Millennials, operating in a digitally connected world is a normal part of life – and they could not imagine anything different in their workplace. In the Forrester report, one hiring manager stated, “Millennials would not like to work at [a] company that doesn’t have a collaboration tool. It’s unimaginable — we can’t hire without it.” Could you? Most likely not.

Now you can be part of shaping how organizations adopt and find value in social collaboration technology. Tell us what obstacles you are facing and the benefits you are reaping by taking part in this survey to help SAP develop our future perspective on social collaboration and how it affects us all as employees, managers, and businesses.


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