Career networking
Career networking is establishing relationships with people who you can ask for ideas, advice and for referrals to those with the power to hire.
Where should you network
There are a range of methods to develop effective career networks. Some opportunities will be more structured and formal than others. It depends on your own individual needs and style.
Previous employers and colleagues
These types of networks become increasingly important the longer you are working. If you find yourself in a number of temporary or contract roles or if you have a series of permanent roles over a period of time, you will be in the position to build up a valuable network. In an increasingly tight labour market, these networks are an important source of staff. Some employers offer a finder’s fee to employees who help source a suitable recruit.
Business, social, job networking and online communities
Online communities are the internet's most recent trend. They can help build networks for social, business and career purposes. There are a wide range of sites out there depending on your needs and interests.
School or university networking
Few connections are as strong as those we form in school or tertiary education. Many educational institutions have alumni bodies that run events and newsletters that keep this network going. These groups are social, career and business networking opportunities.
Professional and industry associations
There are a range of industry-specific organisations providing professional support and networking opportunities to those in financial services. Finsia offers members entry to many professional development and networking events across Australia and New Zealand each year.
How to network
Networking takes judgment. An initial meeting or contact with someone does not establish a connection unless there is follow-up of some kind. The follow-up must suggest a genuine interest. Remember you are developing relationships not just contacts. Here are some big picture suggestions:
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It is important to prepare your own story: what do you do, who for, how did you get into the role/industry? What do you love about your job? People will want to know these things about you and will be more interested if you have succinct and interesting answers.
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Know what you want to learn about others. Think about the event you are attending. Who will be there? What profession or industry are they from? What would you like to learn about their world?
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Start with events you would be most comfortable in. Some people are very comfortable with an informal setting. Others prefer a structured event. The point is to engage with others as often as you can. Your confidence will grow and you can move on to other, less comfortable interactions and still succeed in developing connections.
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Listen. You gain more by listening than speaking. Ask open-ended questions that draw people out of one-worded answers and into stories about themselves. That gives you a much greater basis for finding things you have in common.
It is important to note, networking events can be intimidating. Even calling an event a ‘networking opportunity’ may create unnecessary pressure for the inexperienced. In reality, all situations that allow interaction with others provide networking opportunities. What matters is what you do with that opportunity and the contacts you make.
Networking v selling
Successful networking needs both parties to understanding that it is about ‘what I can do for you’ as much as ‘what you can do for me’. Building a network requires time and a commitment to helping others. Networking is not just meeting as many people as you can with the intent of advancing your own agenda. Networking requires a genuine interest in others.
Avoid ‘drive-by’ networking: that is, saying hello to people, passing out business cards but not following up. How many of us are turned off by salespeople who sell without understanding our needs?
Remember that a relationship must be nurtured. The elements of trust and credibility that you build over time are reasons for someone to remember you. Your relationship could potentially lead to your objective – a new job or a new client. In the meantime, you have established yourself as an interesting and interested person and learned something about another life and another set of experiences.
Networking tips
When leaving a job
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Stay in contact with your former colleagues and managers: email makes this easy – a quick message to previous managers or workmates now and then lets them know where you are working and what you are doing without taking up their time. You will stay in their minds and they are more likely to think of you when a job comes up that may suit.
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Don’t burn your bridges with colleagues or employers: you never know when you may cross paths again.
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Help others and they may help you: use your contacts and networks to help others and people will do the same for you.
When at a networking event
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Ask questions and listen to the person you are talking to, and find areas of common ground.
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Identify their concerns or interests, and offer solutions or connections.
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After the event, and if you have developed a relationship with the person, immediately follow up by email or by phone.
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Stay in touch.
When following up on a referral or new contact or opportunity
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Remember the referrer: keep them informed of your progress.
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Consider your new contact carefully and prepare well: If the original contact has provided you with inside information, take the time to think about how you can use it.
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Ask open-ended sentences: ‘Please tell me about …’; and be specific in what you are asking: 'Please tell me about your industry’ is too vague; ‘So what do you like most about your industry’ is more specific.
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Remember to thank anyone who helps you: a thank you card or email to the referrer is appropriate when a networked contact meets with you in person.
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Stay in touch with your new contacts and let them know you are thinking of them: send an article of interest, or even simply update them on your progress.