As social media makes its way into the workplace, executives are weighing the potential risks and benefits. Approximately half (51 percent) of chief financial officers (CFOs) interviewed recently for an Accountemps survey said their greatest concern is that employees are wasting time during business hours using sites such as Facebook and Twitter.

CFOs also expressed worries their staff may behave unprofessionally or post inappropriate information online.

However, three in 10 financial executives (28 percent) said using these sites can improve customer service.

The survey was developed by Accountemps, the world's first and largest staffing services firm specialising in accounting and finance.

It was conducted by an independent research firm and is based on interviews with responses from more than 1,400 CFOs from a stratified random sample of US companies with 20 or more employees.

CFOs were asked, "What is your greatest concern for your company regarding employees using social media?"

Their responses were: wasting time at work, 51 percent; behaving unprofessionally, 18 percent; posting financial/confidential company information 11 percent; posting negative comments about the company, 10 percent; no concerns, 10 percent.

CFOs were asked, "What is the greatest benefit to your company of employees using social media?"

Their responses were: provide better customer service, 28 perxcent; enhance company's reputation, 22 percent; expand networks of valuable contacts 20 percent; can secure new business 18 percent; no benefits, 10 percent; don't know/no answer, 2 percent.

"Many companies are still evaluating the risks and rewards of allowing employees to access social media websites at work," said Max Messmer, chairman of Accountemps and author of Human Resources Kit For Dummies.

"Firms with concerns about employees wasting time online while at the office can encourage appropriate online activity by developing and establishing a set of consistent guidelines."