6 Networking Statistics That Show the Importance of Networking
By Indeed Editorial Team
Published March 11, 2022
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Networking effectively can drastically improve your job prospects, introduce you to new opportunities and make it easier to transition into something more aligned with your goals. Building, maintaining and using your network can take time and consistency, but doing so successfully can give you access to a supportive community poised to offer help when you most need it. Exploring statistics related to networking can also clarify the benefits of this professional activity. In this article, we explain why networking is important and offer six statistics showing its usefulness.
Why is networking important?
Networking is important for many reasons, such as:
It can introduce you to new connections
Networking isn't only important for connecting with new opportunities, it can also introduce you to important new connections. These connections might be future clients, industry resources or individuals you're able to support in some capacity. Having an extensive network means that if you need a finance expert, a photographer, an event planner, an illustrator or a web designer, you know who to ask. Your network can also introduce you to additional contacts, leading to beneficial new relationships.
Related: The Complete Guide to Networking
It can help the job search process
When looking for a new opportunity, knowing others in the field you're interested in can be hugely beneficial. Many companies like to hire known quantities, meaning they'd hire someone that comes recommended before they'd hire someone with no connection to the company. Cold applying, or applying for a job with no link to the company, can yield fewer interviews, call backs and offers. Using your network can help you find worthwhile opportunities and increase employers' interest in your skills and experience. You might also be more likely to hear about leads you otherwise wouldn't have heard about.
It can make you a more valuable resource for others
Networking is reciprocal, meaning you can be as much of a resource for others as they can be for you. Being a helpful source of support for those within your network can make you one of the first others think of when they need something. Try to be a valuable connection for those around you and use your network actively. If someone mentions their child is interested in a specific career path, for example, and you know someone in the field, offer to set up a meeting with someone else you know.
Using your network often can keep your connections strong and can help you to both maintain and build your relationships. Actively employing your network can be very important for keeping your connections active and viable, increasing its value and providing you with consistent access to a viable community of professionals.
6 networking statistics
Here are six statistics and research results showing the importance of various networking aspects:
1. Job search success statistics
According to a study by the Federal Reserve Banks of St. Louis, searches within your network can help you find a job at a faster rate. Having a more robust group of connections directly correlates to more job offers, and it can also mean you're able to match with opportunities in less time. According to the authors of the study, job matching using your network can take anywhere from one to three months off the job search process.
2. Perceived employee importance statistics
Additional statistics show that most working people recognize the value of networking. According to Statista, a research publishing site, most employees believe networking is critical for increasing opportunities. In 2011, 26% of respondents reported that networking was essential for increased opportunity. Another 45% rated it as important. The results of the survey indicate a general perception of networking's importance, showing that networking is a beneficial practice for many employees.
3. Job offer quality statistics
The same study by the Federal Reserve Bank of St. Louis also showed that networking can produce higher quality job offers. Since those within your network have connections and established relationships of their own, your likelihood of connecting with viable opportunities via referrals can be higher. This can mean higher wages, more advanced positions and better aligned job roles for candidates.
4. Job satisfaction statistics
The Federal Reserve Bank of St. Louis further supports the assertion that employees often find higher satisfaction from jobs they attained using their network. This is based on the duration of time they spend in those positions. This might be because they can frequently find better offers using their network. Starting work in positions that are more attractive initially can mean employees are more likely to stay in their jobs. Job satisfaction can extend tenure and reduce employee turnover.
5. Informational benefits statistics
Not only can networking improve the quality of the positions you find, it can also improve your access to information. A paper published on the National Center of Biotechnology Information's website shows a relationship between networking and retrieving informational benefits. The study looks at the use of a popular networking site and looks at users' ability to access useful information that benefits their careers.
Using professional networking resources online also helps people grow their networks and explore new relationships. Those who use social media sites, rather than professional networking platforms, often focus more on maintaining existing relationships instead of building new relationships. In contrast, professional networking resources can actually expand access to new relationships and resources.
6. Career success statistics
A study from Hans-Georg Wolff and Klaus Moser at the University of Erlangen-Nuremberg looked at the effects of networking on career success. Their aim was to explore results over time rather than to look at a static picture of networking's benefits. They uncovered several noteworthy findings. One finding showed that networking behaviors, like spending time with coworkers outside of work, keeping in touch with former professional contacts and attending conferences, directly relate to career success. Wolff and Moser define career success as a combination of factors like long-term job satisfaction and growth potential.
Their results determined that networking affected salary growth, a major contributor to their definition of career success, positively. Their research also supported the hypothesis that networking influences concurrent career satisfaction, meaning people remained satisfied in positions they attained through networking.
Please note that none of the companies mentioned in this article are affiliated with Indeed.
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