Warning: Social networks cost you plenty

There are many tools available for CIOs to make their jobs more efficient and effective. And there are plenty of pluses that come with the growth of social networks, which provide employees on the job with a way to communicate quickly, reach out to the world and get the information they need. Email, instant messaging and blogs have become a fact of life and can help workers do a better job and collaborate with colleagues who may be far afield. But there is the strong possibility that employees will become distracted and lose productivity by using these tools for personal, not work-related endeavors.

In a new report, Basex estimates that social networking may be the problem of the year for 2008, and that the lack of productivity may cost the U.S. economy $588 billion. "Information Overload: We Have Met the Enemy and He is Us," said Basex analysts Jonathan B. Spira and David M. Goldes. The report claims this kind of detour eats up 28 percent of a worker's day, resulting in the loss of 28 billion hours of productivity. The $588 billion a year assumes a $21 per hour salary for knowledge workers.

While you cannot stand over a worker's computer station all day, there may be ways to discourage employees from spending time away from their work. You might block some kind of technologies or lay down the law and issue a few rules, remembering that they always can be broken. Like everything else in this new world of technology, training the staff to do it right may be the best defense when the work clock is running.

For more on workplace perils:
- See this eWeek article