1. Ignite learning… Your employees can learn as much or more from each other as they do from more formal and structured training activities. 2. Strengthen customer relationships… Does your customer relationship end at the cash register? Provide your clients a forum for giving you feedback on your service which you can turn around and use to improve your business. Look at how the Mayo Clinic is using a simple blog to strengthen their brand and give their patients a voice.

3. Transfer knowledge… By 2014 Generation Y will grow from 25% of the current Workforce Worldwide to 47%. The baby boomer retirement wave is upon us. By having your employees sharing their knowledge and expertise on a private-label social network, you are able to capture that knowledge before they walk out into retirement.

4. Leverage social media to communicate… Email’s days are numbered. You don’t create value for your shareholders babysitting your inbox, and you don’t want an important customer inquiry lost in the flood. Via social networks, customer inquiries are not only answered but archived and searchable for later reference by anyone.

5. Build community… As the world flattened, the water cooler went global as well. Organizations have used regional meetings and retreats as a way to build community for decades. Social network technology can connect your business objectives to your people, and your people to each other and your customers, eliminating physical and geographical boundaries.