There’s no question that networking is important in all professions. Networking is critical to professional development. However, many people are intimidated at the thought of networking, particularly in the workplace. Although it can be a nerve-wracking experience, networking allows employees to get to know colleagues and superiors on a deeper level. Networking events not only help employees grow in their current roles, they also foster growth in other areas of life and prepare employees for future roles.
HR departments can be somewhat cautious about encouraging professional networking in the workplace. Many are afraid that if employees are given extra tools to develop themselves professionally, they will take these newfound skills and connections elsewhere. However, if your organization is committed to employee retention, this is unlikely to happen in large numbers.
Research conducted by an associate professor of Entrepreneurship and Family Enterprise at the business school INSEAD looked at the relationship between strong personal connections and professional development, and the results were promising. Those who used their own personal interests to build professional relationships tended to be more successful in business than those who attempted to connect using only business-related topics.
The research further showed that the impact of personal networks was magnified when networks consisted of professionals from various industries who, under normal circumstances, would be unlikely to meet. Here, we’ll detail some ways that HR can help employees develop personal and professional networks.
The Role of Corporate Leaders in Networking
Individuals in leadership roles are sometimes so far removed from others in the same company that it may seem that they don’t care about networking and professional development. It is imperative that HR encourages C-level executives and those in upper management to make the effort to engage in networking. Doing so not only helps employees on a personal level, it benefits the company long-term.
Professional development through networking should be a collaborative effort between HR, the executive suite, and employees in non-management roles. By linking employees at various levels, insight is gained as to how each employee specifically contributes to the success of the organization.
Ideally, leaders should be accessible and open to suggestions for new networking initiatives as well as be willing to share information in a way that instills confidence and encourages people to want to learn more. Communication is a key component in successful networking and those in leadership positions should be prepared to mentor others.
Company-Sponsored Networking Events
One way to encourage networking outside of the office is to host company-sponsored networking events. Research has continually demonstrated that attendance at networking events is essential to attracting new business and contributing to the professional development of staff. Networking events are an effective way to initiate contact with other businesses. If your company sells a product or services, networking events are also a way to attract promising leads.
Organizing a networking event takes a lot of planning. All of the details should reflect your company’s core values while showing off what you do in an exciting way. According to a 2016 survey administered by the Event Marketing Institute, nearly 75 percent of consumers are more likely to buy products after being introduced to them at a marketing or networking event.
This is why it’s so important to create a positive and engaging experience at your company-sponsored events. Networking events also serve businesses by attracting new talent. Prospective employees will get a feel for your company culture and these events can be just what they need to apply to your company.
On-site Networking
Networking events do not have to be held in a fancy convention center or another outside venue. They can be hosted right in your company’s building. On-site networking events are ideal for bringing current employees together and giving employees of varying roles the chance to network with management and colleagues.
According to research from a University of Houston professor, companies that offer networking opportunities for employees reduced the likelihood of turnover by 140 percent. In addition, studies show that internal networking positively impacted job satisfaction. Workers were also more likely to stay at their jobs, in part because of the bonds created with coworkers through networking.
The best way to implement on-site networking is to hold events during the normal workday. Scheduling events during work hours allows more employees the opportunity to participate, since they won’t have to worry about staying late or returning to the office after hours. Lunchtime or midday breaks can be approved by C-level executives in order to generate more substantial conversations between coworkers and management.
The benefits of networking cannot be overstated. Whether your company prefers to hold on-site events or enjoys the perks of hosting larger external events, networking benefits everyone. HR can work hand-in-hand with company executives to determine the best ways to implement networking initiatives and cultivate professionals.