Recruitment – Networking – don’t be shy

Networking. We have mixed feelings about it. Some people enjoy it, while others shy away. Some say they are not good at doing the "small talk" thing, or are just too busy. Others feel uncomfortable about networking because they see it as being shallow and for self-interest. Yet there are those who are very comfortable with it, who see it as a means to add satisfaction and value to their work and personal lives.

So what is networking really all about? Why, now more than ever before, is it important for executives in financial services not to "shy" away from networking?

Networking is an important skill for leaders. It helps us to keep up with happenings both inside and outside our organisation and to be able to get fresh perspectives and new ideas. It is important for relationship building, which is key to facilitating better communication.

Networking is not about "small talk" and insincerity. It is about being generous and genuine, by spending time with people, listening to them, and talking about what is really happening for us, sharing about ourselves.

Approach it with no expectations and see what you learn. It may be as simple as discovering someone found a great nanny by advertising in the local newspaper, having not found anyone suitable through an agency. You may learn how one organisation is staffing up to adapt to e-commerce. Or it may be that you just gave yourself space and time away from your normal tasks, so that you could return to it later with more clarity.

The Inside Story

Networking is particularly relevant within an organisation. In his book, "The Good Listener", Hugh Mackay proposes that people who feel insecure in a relationship are unlikely to be good listeners. Networking is about building relationships, "about making the channel of communication more open, more comfortable and more secure", Mackay says.

An executive is more likely to be heard if he or she has built relationships though internal networking. This doesn't necessarily mean having to go to the after-work drinks function. But it does mean face to face communication, having a cup a coffee together, making the phone call rather than sending an email, or stopping to chat for a few minutes in the corridor, or at the end of a more formal meeting.

In building these internal relationships, your particular work needs or concerns are more likely to be considered by your peers, staff and superiors, resulting in more internal information becoming available to you, in a more timely fashion.

The impact of company decisions on your area are more likely to have been identified and possibly run past you, prior to being made, if people have a good relationship with you.

Currently as the financial services industry continues to reshape itself, quality staff are very mobile and in high demand. So you never know where one of your current colleagues may turn up in their next career incarnation. They may be your boss, your client or your competitor. They could be instrumental in you getting a job in their new organisation down the track, or to your success in your current role. So developing a relationship with them now is an investment in an unknown future.

Career Management

Most executives are aware that an estimated 60 per cent of job placements are not advertised, and do not go through traditional recruitment companies. Also, the source of many recruitment company's potential candidates is through word-of-mouth. Networking not only provides benefits for you and the organisation while in your current role, but it is also an important element for career management.

Networking can assist you achieve your career goals with your current employer.

By having good relationships, and open communication, an executive will feel more comfortable letting key people within the organisation know of their career aspirations or of their dissatisfaction in their current positions. The result could be a modification of the existing job or a new position within the company.

In the high pressure of the current corporate environment, we are all forced to be task-focussed, seemingly just to survive. So it is a good idea to plan your networking activities, because when it gets busy, this important, although not urgent, activity is always the first to go. Identify the people within your company you need to spend more time with. Very often it is your peers, rather than your boss or subordinates.

Continuously sacrifice networking when the going gets tough at your own and the organisation's peril. As Ralph Waldo Emerson said: "can anyone remember when times were not hard, and money not scarce?". Today, he may have added, "when you weren't busy", for today, time seems our most scarce resource. But if you have invested the time in building relationships, both inside and outside of your organisation, the impact can be to actually save time, as many issues can be identified early, and handled before they become major problems.

Elizabeth Foley is principal of Elizabeth Foley & Associates, which specialises in executive coaching; [email protected]