I wish I had a dollar for every time someone said to me that they regret neglecting their network. Go to any career transition or outplacement (old language) Company and they start by talking to you about the state of your network, even before they discuss the state of your resume or the "reason for leaving" stump speech.
it's widely reported that a significant proportion of jobs are filled via networking. According to multiple sources, including LinkedIn and the U.S. Bureau of Labor Statistics, it's estimated that anywhere between 70% and 85% of jobs are filled through networking. No, it's not search firms or recruiters. They work for the client anyway, not for you. Also. networking tends to open up vacancies that do not yet exist or that have not yet been advertised if they do exist.
This speaks to the importance of developing and maintaining professional relationships. It's important to note though that these numbers might differ between industries, locations, and level of the position.
Loyalty died in the 80's for Companies and in the 90's for employees. It has been apparent ever since that we live in a VUCA (volatility, uncertainty, complexity & ambiguity) where change is the norm. This means that at any moment you are one decision away from losing your safe job and finding yourself all alone in that strange grey space between roles. You will end up there at some time, best you make sure you are not alone.
One of the misunderstandings about networking is it benefits both parties - it's not a selfish grab for another person's scarce attention. Most people want to network with you too and certainly most people want to help if they can even if it's just a supportive hand. The critical thing here is to build your network at a time when you need it least and at a time when you can help others the most. Other people remember who was in their corner when they needed help and will be committed to you when you do too.
I only network with people whom I want to help (because I can see something in them that is to be liked and respected) and people who I know would help me - and then I'm all in. Generally, this means that I tend to network with people I would hire or recommend. I'm certainly not interested in people who are in this relationship only for what they can get out of it. My network is a map of 2-way streets.
I believe in continuously improving, building, deepening and strengthening the network. Other people with a strong network and especially important to connect with because then you have "network effects" - a force multiplier (Also called Metcalf's Law).
Networking, whether it's in a professional or personal capacity, holds immense importance and values that should not be overlooked.
Connections and Opportunities: Networking provides the opportunity to connect with a diverse group of individuals, all of whom could potentially help in reaching professional or personal goals. It provides exposure to different perspectives and new ways of attacking problems, which might not otherwise be considered. These connections can also lead to opportunities, not just for yourself but for others in your network as well. The beautiful part of networking is its reciprocal nature - the more you help others, the more likely they are to help you.
Knowledge and Inspiration: Networking leads to an exchange of ideas and knowledge. Entrepreneurs, students, or professionals who network regularly are more likely to stay updated on the latest trends and news in their respective fields. This continuous learning and inspiration can help you both personally and professionally, infusing fresh ideas and innovations.
Increased Visibility and Professional Reputation: Being active in networks and organizations greatly increases your visibility within your industry or field. Regular participation in networking events attracts attention to you and helps establish yourself as a knowledgeable, reliable, and supportive individual. This boosts your professional reputation among peers, clients, and bosses.
Personal and Professional Development: Networking often involves stepping out of your comfort zone to engage with new people and participate in discussions. This not only builds your communication skills but also improves confidence and self-esteem. It's also an opportunity for feedback on projects, ideas, or challenges you're facing, providing wider perspectives that aid in growth and development.
Networking is an empowering and valuable tool that has the potential to benefit you in a multitude of ways. It is the cornerstone of any successful personal and professional development strategy.
If I had 3 tips for my 16-year-old self they would be:-
1. Build the network every day
2. For the first 20 years get a great mentor, then in the next 20 become one
3. Get a coach because the higher up you go, you get less feedback, and when you fail it will be about behaviour
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