50% of CEOs have banned social media use in the office. They might be better served by banning hallway conversations or meetings. According to a recent productivity study, the biggest employee time-wasters are casual conversations with co-workers, computer problems, and meetings. Social media is quite far down the list.

There are already signs that social media---used appropriately of course---actually increases productivity at work. According to the Academy of Management, workers who take short 10 minute breaks by surfing the web or checking social networks are more productive afterwards than those who take other types of breaks or those who never stop working. That’s because the digital interactions reduce stress and alleviate boredom.

This summer, McKinsey released “The Social Economy” which quantifies how companies can leverage social media to drive profits. They estimate that knowledge workers’ productivity would increase 20-25% if social technologies were used within organizations for communication and collaboration. They predict another significant margin enhancement for companies that tap into social media to gather consumer insights. The report highlights Consumer Packaged Goods as one of the industries best suited to capture productivity and profit gains from social media.

• Is it time to rethink our rules for social media use during work hours?
• Have we spent enough time exploring social technologies to connect our employees?
• How well are we using social media to gather consumer insights?