At a recent networking event, an executive said to me that he is now “seeing networking events through new eyes.” Although he holds a secure and significant role, he’s now making time for networking ‘just in case’, a reaction of course to the daily barrage of announcements about job losses, poor company results and the general economic malaise.

It’s no coincidence that LinkedIn registrations are up significantly, as are recommendations. According to a recent interview with Netscape co-founder and LinkedIn investor, Marc Andreessen, LinkedIn now has in more than 20m resumes on it. In the past few months I’ve seen a marked increase in attendance at physical events such as Mobile Monday London and various groups through meetup.com; along with increased activity in online networking platforms such as LinkedIn, Ecademy, Xing, Plaxo and many others.

Indeed, networking is no longer a back burner, ‘get there if I can’ activity. It’s essential – not only for finding that next role but also for success in a new position and generating new business leads.

For those looking to use LinkedIn and other sites for job prospecting, US venture capitalist Guy Kawasaki offers some good ideas in an old but still relevant blog post.

In a job now? A recent Harvard Business Review article, ‘Start Networking Right Away (Even if You Hate It)’ (Jan 2009) emphasizes the importance of networking when you are promoted – determining the best contacts for your success, introducing yourself and reciprocating in relationships. An earlier blog post offers insight on this concept.

Networking can also be vital in a commercial context. Every CEO today should empower employees to network for new business, find employees and build buzz about a company.

Focus is key. Get involved where your key targets will be spending time – in specific groups defined by market sector, skillset, topic or experience. LinkedIn and other sites offer a vast array of these groups or for local networks offering in-person networking, MeetUp is a great source.

Before attending a conference or networking event, it’s important to map out a plan to maximize your time: define goals, research attendees/speakers and arrange ‘meetings’ at the event. You can also keep involved by engaging in community debate via online forums and email exchanges.

Clearly, networking effort should have parameters. Employees should be reminded of corporate confidentiality policies. Privacy is a growing concern and should be considered carefully in setting profile viewing and sharing. Sometimes it pays to set up a ‘dummy profile’ so that you can see how your profile is viewed to other members and the general public.

Most important, realize that while networking is increasingly important, you should use your time wisely and keep it balanced with other priorities.