Dont' ban before talking

Do employees using social media (especially Facebook) cost you money?  Almost certainly you don't know.  Allowing them some freedom to incorporate such things into their working day might actually make them more productive.

So if you are thinking about banning Facebook or Twitter or any of the other potential distractions, talk to your employees first.  Find out why they want to access such things in your time ... and get them to agree a 'code of conduct' that you all can live with. They become better employees, you become a better boss ... and almost certainly you both win.