The art of developing professional and/or social contacts in the industry can assist with salary growth over time, and career satisfaction as well.
Individuals aren’t the only ones to benefit from networking – companies will receive direct benefits from the influx of addition industry information into their organisation. Employees who have created successful networks are able to raise the profile of the business, find and create sales opportunities, provide valuable industry insight to the organisation and create mutually beneficial partnerships.
But, according to a recent study by McKinsey, companies do benefit from additional market opportunities created by informal networks, but they can also be a headache.
The study adds that all professional networks are spontaneous and can flourish. It cites examples, “Research scientists working in related fields, for example, or investment bankers serving clients in the same industry frequently create informal—and often socially based—networks to collaborate.”
For companies to truly benefit from the positive influences that networking can offer it is advisable to formalise both internal and external structures. This will allow more control and allow the organisation to manage the business’ profile in the industry.
An additional benefit would be for these organisations to guide and train their employees on how to network effectively. These can include how to use social media, providing support for networking opportunities, tips on how to present themselves and essentially give them the tools to excel at networking.
This will increase the benefits that networking can provide, both to the efficiency and knowledge base of their employees, as well as the direct benefits to the business.
I have recently written a series on networking, if you are interested in reading the others, click here:
1. How strong is your digital network? Is it time to step up your efforts? – http://bit.ly/2nmcNi4
2. Why every person should own their voice and increase your network – http://bit.ly/2rM1GV1
#Networking #PersonalBrand #OwnYourVoice