Why CFOs are avoiding social media

Finance chiefs are staying off of social media and choosing to communicate via e-mail instead.

Only 18 percent of CFOs prefer to use social media to keep in contact with professional colleagues, while the majority prefer to use e-mail for this type of correspondence, according to The Wall Street Journal, which cites a report by Robert Half Management Resources. That is a drastic change from 2012, when 45 percent of finance chiefs said social media was their top choice for staying in touch with colleagues, and only 22 percent said they preferred using e-mail for networking.

There are a number of reasons why CFOs may be staying off of social media, such as to prevent sharing information they shouldn't. This happened to Twitter CFO Anthony Noto in November 2014 when he tweeted information about a potential acquisition that he meant to send as a private message, according to the report.

Although e-mail is a great tool for CFOs to use, Paul McDonald, Robert Half's senior executive director, said social media is more effective than e-mail for quickly widening an executive's reach, according to the report.

The Robert Half report is based on phone interviews with 2,200 CFOs in the 20 largest U.S. metropolitan areas.

More articles on healthcare finance:

10 hospitals and health systems with strong finances
Arizona hospital loses Medicare funding
Baptist Health sees strong financial growth: 5 things to know

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.