The Commonwealth Bank of Australia (ASX: CBA) has finally relaxed its tough rules towards employees using social media, following pressure from bank employees to amend heavy-handed elements of the policy.

The banking giant came under fire last year when it proposed to punish employees for negative posts made by others about CBA on the Facebook or Twitter accounts of staff members.

Today, however, CBA’s policy now reflects employees’ rights to organise and engage with their union colleagues online, and the bank’s employees can no longer be held accountable for the actions of others.

Finance Sector Union National Secretary Leon Carter said this is a significant shift from the policy that was originally proposed and opposed by union members and goes to show that even the largest employers can be made to rethink their decisions.

The policy originally proposed by CBA sought to exert limits on the online behaviour of employees as well of that of employees’ social media connections.

The bank’s social media policy still asks employees to report any adverse commentary about CBA that they come across online, but the punitive measures for failing to do so have been removed from the updated policy.

“The original position was unfair as well as unrealistic, and the bank has done the right thing updating the policy to reflect the reality of social media. It’s a burgeoning media that provides opportunities for people to engage in a wide range of discussions. It is not designed for the regulation of activity or opinion,” said Mr Carter.

The union still urges its members to exercise caution online, despite the policy amendment.

“It’s important to remember at all times that everything you post online should be considered to be in the public realm. Be aware that others, often your employer or even potential employers are watching. If you wouldn’t say it out loud, don’t say it online,” Mr Carter said.