money-head-suitSome HR bloggers are calling for a new profession called “Social Media Administrator”.  While there are many opinions and wide agreement about the roles and responsibilities – most of which I fully agree with – I would like to add the following considerations:

The corporate social media administrator should have a direct connection, responsibility and accountability with other social media administrators external to the corporation.  Not unlike a board of directors having diverse membership.  The membership and reputation of member of a Social Media BOD is also on the line.

Social media is just that, social.  It cannot be sequestered fully behind corporate walls and must be open and transparent in it’s message.  The Social Media administrator must protect the voices of those who speak.  While there is a constitutional amendment for freedom of speech in our government and the basis of democracy, none exists for corporations who use the information or the social media enterprise that hold “possession” of the information for eternity.

A market can only be efficient with adequate vetting mechanisms; the SEC vets Wall Street, The FAA vets Airlines, and the system of Checks and Balances vets government.  When the vetting mechanism fails, so too does the market.

Few people can see why this is important largely because the reasoning lies in economics and market theory.  Simply put, we are entering a new economic paradigm unlike anything we have ever seen or could imagine.  The idea that each and every iota of knowledge, experience, and opinion that exists between your ears behaves like a financial instrument has not fully been explained.  YOU are MONEY in every definition of the word.  Your productivity supports the value of the dollar. You own your knowledge, it is your property – you can waste it, you can mint more of it, you can borrow it, and you can lend it – and you should be able to capitalize in any currency of your choosing.

The only thing missing is a financial system for your knowledge. If we are smart – and ONLY if we are smart, this system will arise with the continued convergence of social media.  Among the KEY elements that MUST be in place is a public accounting system for Social Media Administration.