Personal Finance Universe: On a need-to-know-everything basis

Work gets personal when you enter the online world of social networking

Last Update: 1:06 PM ET Oct 26, 2007

SAN FRANCISCO (MarketWatch) -- If you've never poked a colleague or been bitten by a co-worker's zombie, you're probably not on Facebook. If you are, you're probably "friends" -- or the online equivalent of such -- with dozens, if not hundreds, of co-workers, business associates, family members and real-life pals.

People can read your profile, see your photos, learn about your musical tastes, religious beliefs and political affiliations, or any other of a variety of likes and dislikes that in the past would have stayed relatively private. The same can be said of MySpace and other social-networking sites.

You can write public comments on a person's "wall" or send silly messages -- such as Facebook's "you've been poked" or "my zombie bit your zombie," complete with monster image -- all in the name of pointless fun.

Perhaps more startling: You're likely to discover more than you really wanted to know about, say, a business acquaintance's sexual proclivities.

Whatever your take is on Facebook, MySpace and the like -- a time-sucking ego trip or a welcome daily addiction -- there's no denying they represent a new level of information-sharing.

"Social networking is having more of your self out there at a professional level. It's drawing that line between what's professional and what's personal," said Charlene Li, an analyst with Forrester Research.

"There's a very fine line to walk in terms of how personal you want to get," she said. "Some people draw it more to the professional, some more to the personal."

There are a slew of social-networking sites, but some say the up-and-coming online water cooler for midcareer professionals is Facebook. LinkedIn is relentlessly focused on professional networking, but doesn't offer an opportunity to share your favorite book or your weekend plans.

MySpace versus Facebook

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Information overload?

No matter which site you gravitate towards, the chances for unexpected revelations are high. That might not be an issue for the millions of kids and college students who joined when social networking was in its infancy. For them, online profiles are the norm.

But for those whose birth predates the Internet, the realization that colleagues can follow your every move, if you choose to post that information, can be startling, and learning more than expected about business associates can be off-putting.

Still, some don't find it a problem. "I've learned a lot about friends' religious views, their sexual preferences, that I didn't know before," said Christopher Elliott, a syndicated travel columnist for Tribune Media Services. (Disclosure: I'm "friends" with Elliott on Facebook; we've never met, but he has been a source for me for travel stories.)

"One would hope that in the 21st century people are going to be open-minded enough, accepting enough, that that wouldn't interfere with their ability to do business," Elliott said.

Plus, "it gives you a fuller idea of who they are ... maybe you know not to offend someone's religious beliefs, for instance."

Companies restrict use

Companies are worried about the risk of sharing company secrets and the time spent on such sites. Their response? Restrict workers' access. Fifty percent of workers in an online poll said their company limits access to Facebook, according to Sophos, a computer security company based in Oxford, England and Boston, Mass., which polled visitors to its site, most of whom are information-technology workers.

Some companies are saying "I'm going to put a kibosh on Facebook," said Li, of Forrester. But that's a short-sighted response, she said.

"Having your employees better able to communicate with each other is always a good thing, whether that communication happens on your own network or outside of it," Li said.

Plus, connecting with customers and clients offers opportunities for sales and support, not to mention the potential benefit of connecting on a personal level with customers, she said.

Larry Kramer joined Facebook in part because his business involves studying media and technology companies. Kramer, founder of MarketWatch, the publisher of this report, is now a senior adviser at Polaris Venture Partners, a venture capital firm in Waltham, Mass.

He knows at least 200 business associates who are on Facebook. "It allows people in our world, who are busy and doing lots of things, to observe what each of us is doing without having to leap in, without having to have a conversation," he said.

"The jury's still out on how successful it will prove to adults," he said. But "it's getting a lot of traction right now. It's very clever using RSS feeds and news feeds to keep you in touch with people you know. There are interesting things you learn from it without having to be proactive."

And people can choose to connect when the mood strikes. Kramer said he noticed the convergence of his personal and business lives when colleagues responded to photos he posted of his son's Chicago Marathon experience.

"People sent me emails, asked questions about how dangerous was it," Kramer said. "I didn't know if they'd be interested or not, and they didn't have to look. It was like part of a conversation if I'd seen those people in person, but I don't see those people in person."

Another important element, Li said, is the fun. "There's camaraderie" in social networking. "Work has to have an element of fun," Li said. "Right now, it's a war for retention."

And some say Facebook is useful for work tasks. "I've used Facebook to show preview video to network television producers," said Lee Aase, a blogger who comments on Facebook at http://leeaase.wordpress.com/. Aase is also a manager in the Mayo Clinic's media relations department.

Setting some rules

Problems can and do occur, from the minor faux pas -- Kramer said he accidentally alerted a blogger about his new job when he updated his Facebook profile before his new employer sent out a press release -- to gaffes in which publicists have complained about the products they're supposed to be promoting.

Companies worry about their names becoming associated with workers who are veering more toward personal divulgences than professional demeanor. But, Li said, the solution is to offer suggestions for appropriate behavior.

Some companies are doing just that. The Mayo Clinic, for instance, is developing guidelines for employees who blog or participate in social networking sites, Aase said.

Other companies are embracing the possibilities. There are about 22,200 work networks on Facebook, many of which restrict access solely to employees.

Meanwhile, other firms are devising their own internal social networks, while some Web sites are creating other venues for social interaction. Consider Zecco.com, an offshoot of brokerage firm Zecco Trading, which allows users to download a summary of their portfolio so others can comment on their holdings. See full story.

Graver dangers

While certain personal divulgences may simply strike you as bad taste, some information shared on Facebook could lead to identity theft and other crimes, said Graham Cluley, senior technology consultant with Sophos, a computer security company. See tips for maintaining your reputation on social-network sites.

As a test, Sophos created a profile and then sent a "friend request" to 200 random Facebook users. Forty-one percent agreed to be friends and allowed the stranger to access all their information.

"Some people would put their postal address and cell phone number and then say, 'I'm going to Paris on holiday for two weeks,'" Cluley said.

"This is one of the real problems with social networks. People feel the need to unburden themselves about everything private going on in their life, not realizing that the world is watching."