Despite the results of ERE's recent poll, social networking is here to stay. While it can be scary to think about how much personal information is released online, it may not be as bad as you think. Think of how your company responded to corporate Internet usage 10 years ago. It was a new -- possibly frightening -- concept, but now that seems laughable.

The fears associated with social networking might be a similar case. Watson Wyatt says executives fear giving employees the ability to create content, with some IT departments blocking employee access to popular social media tools.

What will help, says Watson Wyatt, is setting clear guidelines on how to incorporate these technologies into the workforce. Watson Wyatt recommends embracing technology, because employers that avoid social media altogether are missing an important opportunity and running the risk of alienating Generation X and Millennials.

"Instead of simply mass emailing information or posting to an intranet in hopes employees will see it, social media tools help employees actively participate in creating and sharing information. This shift to employee-generated content has resulted in employees becoming more engaged online," says Michael Rudnick, global intranet leader at Watson Wyatt.

And in a new client study, SelectMinds research shows that while social networking is not set to take the main stage in corporate America just yet, it has clearly taken on a supporting role.

In the study, companies reported that corporate social networking can increase productivity by an average of 10%, can contribute to an increase in retention by an average of 9%, and can increase new business by an average of 12%.

And then there is the Groundswell theory by Forrester Research analysts Charlene Li and Josh Bernoff. Consumers' growing Web involvement through social media, the analysts say, has created a "groundswell" of customers with the power to make or break brands via widespread social interactions.