It was not too long ago that social networks such as Facebook and MySpace became some of the most popular teenage hangouts. With their sizes and reach increasing exponentially every day, some businesses are finally starting to get what the fuss is all about… and some are still out to lunch.

Social networking has become the big, bad wolf for business. According to a poll by Sophos, 66% of workers feel that their colleagues divulge too much information on Facebook. And they’re right. It is estimated that 41% of users give out personal information without hesitation (and who knows what else). Not to mention that social network users are costing businesses upwards of $5 billion dollars a year in productivity. No wonder companies are refusing to welcome the newest Trojan e-horse.

So what company in the web universe would ever try to indulge such a tool when the stakes are so high? Apparently, lots.

While some businesses fear the uncontrollable spill of company information into social networks, others are actually embracing it. Customers, such as those of IBM, explained that they were frustrated with the repetitive work being done in the workplace, and that they needed a platform from which they and their employees could share such information as company protocol, creative ideas, and valuable case studies. Needless to say, an IBM light went on.

Now, companies with a strong online presence are developing programs to help their customers build and maintain internal social networks. IBM has had great success with its software called Lotus Connections, while Oracle’s OpenWorld is set to launch in 2008, all providing such applications as email, personal profiles, forums, various posting abilities and search tools that allow employees to find and connect with each other.

Not only are employers benefiting their internal processes, but they are also using networks such as LinkedIn to reach outside the business for such things as finding new hires.

After seeing all of the evidence that online social networking is here to stay, it’s no wonder that companies are already profiting from these new and exciting e-tools. And it’s no wonder mine is, too.

Ogilvy has already established a fair-sized network on Facebook, where current and previous employees can connect and share information such as upcoming events and creative ideas.

They have also developed an online refuge called Truffles, a private community where employees can access company information and news, learn industry trends, create and post personal business profiles, and search for other employees in the global database.

So is it all just to keep Ogilvy employees happy? Can these tools actually increase employee productivity? You’d hope so, since the company has even made the use of some social networking applications a regular component of client communications.

Are online social networking sites here to stay? Yes. And as security features become more and more technologically advanced, businesses will be eager to e-migrate.

For more of my comments, please visit this blog about Facebook and see my response. I have also posted on this blog about social networking through Second Life, with some supporting material.