The Web 2.0 revolution is developing at a rapid pace. Social networking sites like Facebook, LinkedIn and Twitter are accessed by millions of people each day. Other Web 2.0 tools, like blogs, podcasts, text messaging and instant messaging, allow users to connect and exchange ideas in ways that were never before possible. Web 2.0 is changing the way we think, act, relate to one another and ultimately, work. For employers who see the value in engaging employees to improve productivity and revenue growth, Web 2.0 communication tools can play a significant role.

Diving into the world of Web 2.0 can be a daunting prospect, even for people who comfortably use email and the Web on a daily basis. These tools operate a little differently – hence the “2.0” moniker – so here’s a quick primer on some of the most commonly-used terms.

• Social Networks: Social networks like Facebook, MySpace or LinkedIn allow users to interact online. They provide features that enable users to IM (instant messaging) or voice-chat, message or send email, share videos, photos or other files, blog, host discussion groups and otherwise keep up with one another. Facebook and MySpace are generally used for personal networking, while LinkedIn currently has a corner on the professional networking market.
• Twitter: A social networking and micro-blogging service, Twitter enables users to send and read other users' updates, known as tweets. Tweets are text-based posts of up to 140 characters. On Twitter, you can join millions of other users and “follow” a celebrity, or follow an expert in your industry as he or she shares experiences from conferences, current projects and research. Or, you can follow your kids as they tweet about school and their extracurricular activities.
• Blog: A Web site where individuals or groups update entries in a journal on a daily or other periodic basis. Many blogs provide commentary or news on a particular subject; others function as more personal online diaries. The real power of blogs lies in the conversations that are generated as a blog’s readers comment on the post itself, as well as others’ comments. A feed reader captures updates from blogs you subscribe to, letting you keep up with multiple blogs in one convenient place.
• Instant Messaging (IM): IM enables real-time communication between two or more people, who are all online simultaneously, through pop-up windows on your computer screen. IM is like a telephone call that’s transcribed into text.
• Text messaging (TM): Texting sends “short” (160 characters or fewer) text messages to mobile phones using Short Messaging Service (SMS).
• Wiki: Software that allows users to collaboratively create, edit, link and organize the content of a Web site, usually for reference material (Wikipedia is an example). Some organizations have “enterprise wikis,” which allow employees to create a knowledgebase unique to that organization’s needs.
• Podcasts: Audio files that you can download and play on your computer or MP3 player. Many podcasts are updated regularly by their creators, so you can subscribe to them for periodic updates. Podcast topics range widely, but one popular example would be podcasts of recorded radio shows (think public or talk radio programs).

Many organizations question whether they should pursue Web 2.0 activities now or wait to see how these tools evolve. Companies that take a chance on emerging technologies often prosper, while organizations that delay may never catch up. A few key facts support incorporating Web 2.0 technologies to engage your employees and achieve business results.

Fact: Today’s workforce is rapidly changing.
Boomers, a generation of 78 million, currently make up 45% of the workforce and are beginning to retire. Millennials, born between 1980 and 2000, number 92 million and currently form 10% of the workforce. In less than 10 years, more Millennials will be in the workforce than any other generation.

Fact: The Millennial generation embraces Web 2.0 tools and expects their employers to as well.
The Millennial generation uses Web 2.0 tools to interact, communicate and locate information. In order to effectively recruit and retain Millennials, employers will need to use these tools as well.

Fact: Employees of all generations are using Web 2.0 media at work for work purposes.
A 2008 Social Media and Employee Communication survey conducted by Aon Consulting revealed that all generations are using these tools at work for work purposes, whether or not their employers support their usage. Although Millennials tend to use the Internet and social media in larger numbers, the study finds that large segments of Traditionalists, Boomers and Gen Xers are online for an hour or more a day when not at work. At work, two thirds of employees are using their employers’ intranet. The trend to use intranets as a central employee information portal is continuing and can be reinforced with Web 2.0 media.

In the next edition of The Source, we’ll highlight the correlation between social media and financial success, and share suggestions on how to use these low-cost, highly interactive Web 2.0 tools to advance your organization’s presence among your employees, prospects, clients and partners.