Banning Access to Social Networks?

It seems that 40%-50% of businesses currently ban access to social networking sites like Facebook, even access to professional networking sites like LinkedIn.  Is the control worth the risk? Is it possible you might loose employees that may not appreciate corporate social media policies?

Surveyed employees have definitely stated a strong preference for connectivity and networking in their business lives.  Some 70%-80% feel social connectivity is essential, even critical, at work.

Today I read that a recent survey of 1000 European office workers revealed:

• 39% of 18 to 24 year-olds would consider leaving if they were not allowed to access sites like Facebook and YouTube
• A further 21%indicated that they would feel ‘annoyed’ by such a ban
• The problem is less acute with 25 to 65 year-olds, of whom just 16 per cent would consider leaving and 13 per cent would be annoyed

By the way, it points out, in Canada, 90% of 18-34 year-olds use Facebook – that's 9 million people! The article then asked, "Can you imagine the results in North America?".  The stats I've read are not quite as high but remain strongly compelling.

I look at this and sense a communications preference and a shift in communications trends. What about embracing it and using it to your advantage? What about a company Facebook and LinkedIn strategy, and integration of a company Social Network drive engagement and retention, while gaining some of the recruiting, marketing and productivity advantages that social networks can offer?

Or, is it easier to ban access, proceed with business as usual...  To quote that infamous TV Dr., "Well, how's that working for you?"