Gen Y is known for being gurus at social networking so even we were surprised by the results of our most recent survey which revealed that 53% of Gen Y is intimidated by networking when searching for jobs and internships. It turns out most are intimidated by in-person networking (62%) and telephone networking (50%), both forms that are not electronic and require contact with people they don’t know.

When it comes to employers using online networking, Gen Y told us which employer behaviors they find acceptable: they agreed “invitations to connect” (67%) and “invitations to join employer-hosted groups” (62%) were appropriate, but they drew the line at “poking,” which some equated to “flirting,” and found “friending” less acceptable.

If you are looking to network with and build relationships with Gen Y, keep in mind a couple of notions: (1) as newcomers to the workforce, they may not be as comfortable with career networking as your more experienced hires, so go easy on them! and (2) as social networking mavens, they are leaps and bounds ahead of us and we need to follow their lead on social media conventions.

Employers, for tips on how to network with Gen Y, download the whitepaper.

“Gen F.” Have you heard of or seen this term? A colleague recently shared an insightful post from Gary Hamel’s Management 2.0 blog on WSJ.com, The Facebook Generation vs. the Fortune 500, which spells out how the Facebook Generation – a.k.a. Generation F – will ultimately change the face of the workplace. Companies that don’t get it, Hamel argues, will miss out on attracting the best and brightest and may be setting themselves up for a harsh reality if the Gen F contingent is missing.

Gen F, Gen Y, the Net Kids, Millennials. Whatever you call them, the next generation workforce will comprise half of employers’ headcount budgets within the next 10 years. And if you’ve been reading my last few Talent Insights posts, you’ve also gotten the (not so subtle) sense that these young professionals thrive on social media and new technology. Add these considerations together, and I think Hamel pretty much hits the nail on the head.

Last month, more than 250 college students and young grads took our Web 2.0 Technologies Survey and told us some pretty telling things. The survey focused on collaborative and community-based online media – social and professional networking sites, widgets and gadgets, wikis, blogs, podcasts, video, etc. – and their role in the workplace.

Nearly all respondents, at 94%, reported using social networking sites. Yet when it comes to other new technologies, the largest numbers of Gen Y spend only an hour or less each week on sites liked LinkedIn, blogs and micro-blogs (think Twitter) and video chat apps like Skype. Interestingly, 20% of respondents said they use new media to make new business contacts or learn about career opportunities.

Factor in work and the numbers get more compelling, and employers especially should take note. Forty-two percent of Gen Y told us they use or plan to use social networks at work. A substantial 90% of this same group believes Web 2.0 technologies will make them more or just as productive at work, and nearly the same number – 82% – said they’d be happy to coach their older counterparts on new media if the training was needed. (Incidentally, our Facebook Fan Page members told us just as much, too.)

With cost control being top-of-mind for just about all of us, and given the tendencies of the Facebook Generation, employers have an opportunity to potentially boost productivity – and save money – by setting Web 2.0 and social media standards at the workplace. At Experience, for example, we all rely on Skype for IM and video conferencing. Personally it saves me time when I can just fire off a quick question to a coworker who resides two floors below me. Not that IM is cutting-edge revolutionary, but you get the point: simple measures add up and make a difference.

Earlier in the month, I hosted a presentation at Experience’s client conference that focused on the so-called “Net Kids.” I discussed common Gen Y traits (namely their comfort with technology) and Web 2.0 media, and why combined they all matter in setting effective career services strategy. Citing the Experience Online Usage Survey we ran late last year, I suggested in my presentation there’s a clear opportunity for social networks– a key Web 2.0 component — to make a serious impact on those of us who live and breathe all things Gen Y careers, not to mention the candidates themselves.

Love it or hate it, social networking is here to stay. The biggest player by far is Facebook, of course, with its 130 million (and growing) active users. Half of these active users access it at least once every day.

In our survey (which I detailed last month in “What’s The Use”), respondents were asked to check off a list of the social networking sites they use. An overwhelming 85 percent of Gen Y surveyed reported being active with Facebook. MySpace was a distant runner up, followed by LinkedIn.

Being social on social networking sites is of course the primary focus, but those of us looking to connect with Gen Y — employers, college career services, alumni associations and everyone in between — have an opportunity to use these networks to engage young professionals on their terms, and on their time. More than a quarter of our respondents indicated they use social networks in the context of careers, whether it’s hunting for jobs, making new business contacts or staying in touch with co-workers. In our current economic recession, career-related activity on Facebook and the rest will only increase come spring and summer.

On a related note, Experience on Tuesday announced the Best Places to Work for Recent Grads, a top 20 list of the leading employers that “get it” when it comes to recruiting, hiring and retaining Gen Y. Many of the organizations highlighted in Best Places fully embrace and support social networks at the workplace. They’re committed to fostering communities and affinity groups (professional and social) at the workplace through new media. As a result, they’re fostering a more productive work environment by building trust between younger workers and managers. Check out the report and get some ideas for yourself.