Social media policy

With so many people using Facebook at work, Twittering away, reading blogs and many more social media activities how should employers deal with this?

Well, BA just sack them! OK a bit harsh, but if you don't have clear guidelines around what employees can and cannot say in the virtual world it just leaves everything open to interpretation. Some of the major technology focused companies such as Intel, Cisco and IBM have policies on social media and also get significant business advantages by encouraging employees to be part of the Grundswell.

So, do you have an informal or formal policy for your business? Would you find it useful to have some examples? Or do you just think it is basic common sense and your Internet policy covers it all? Let us know your thoughts and experiences.