© 1985 - 2020 BioSpace.com. In many of my blog posts I discuss the tools to use while networking. Networking is great for sharing ideas and knowledge. Published: Apr 16, 2020 The study elaborated on earlier work that found a correlation between networking and job turnover, the authors of the new research said. It costs a company a significant amount of money to get the right candidate and train them. Organizations that optimize internal networking have better employee relations, employee motivation and productivity. Business networking benefits are the … 65% of US employees say that communications by their employer impacts job satisfaction. And, if you stay in the same field or industry long enough, your community of colleagues starts to feel smaller and smaller as the years go by and you get to know more people. That percentage was even higher if opportunities for internal networking were reduced. … Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Employee retention is important to keeping morale high and costs... How to Rekindle Your Relationship With Work. The use of internal social networks within your organization has the potential to make a huge difference within your organization. Forging meaningful, valuable connections with your colleagues can be a great way to feel engaged and like an integral part of your organization, which may lead you to a heightened sense of overall satisfaction at work and push you to work that much harder or better. 4 Internal Networking Do's. Having an internal social network provides a relaxed and communicative environment for employees, even while at work. Plan your networking … For an ITAM practitioner, the two biggest benefits of internal networking is to build up a stock of good-will so that when you ask someone to do something they are more likely to actually do it, … This provides you with an opportunity to learn and avoid some of the common pitfalls they experienced. High employee turnover results in huge expenses for an organization. Companies with a more robust internal … It's no surprise that networking is the number one unwritten rule of success. Whether you’re asking a colleague for an endorsement on LinkedIn, a personal recommendation or you’re soliciting your boss for a formal letter of recommendation for a new position or opportunity, if you’ve laid the groundwork and formed solid relationships through good internal networking, chances are you’ll get glowing recommendations for whatever you need. Eighty-five percent of jobs are now found through networking, however the benefits of going to that mingle or meet-up outside of … The study was co-authored by Sang Eun Woo, an associate professor at Purdue University, and Michael Campion, a professor at Purdue University. Our site is focused exclusively on giving small business advice, tutorials and insider insights. An organization that has been using network structure is H&M (Hennes & Mauritz), a very popular brand that has followers world over. Internal networking improves channels communications between employees by encouraging best practices. Company training is usually a great idea for the learning benefits… "Employee networking, in general, functions as a double-edged sword by simultaneously exerting opposing influences upon one's desire and ability to leave the organization.". You really get a sense of someone’s energy. Social networking gives you a chance to connect with people around the world.One of the most obvious advantages of using social networking is the opportunity these websites provide you to reach people from anywhere in the world. There are many fraught discussions of networking in the modern age (technology has increased the confusion), and I think one topic that needs a little bit of attention is internal networking vs. external networking.. Internal networking would be networking … It allows you to help others. The self-confidence that … Overall, the research revealed that getting co-workers to network with each other reduces the likelihood of turnover by 140%. Some studies have shown that employees who network internally often experience higher levels of success, performance or motivation in the workplace. Improved employee relations result in an enjoyable working atmosphere. 7 Ways to Boost Your Internal Networking Skills Training and Development Programs. Any organization can form its global integrated network using WAN. Learn more. Training and certification garnered from networking builds self-confidence and promotes self-esteem. One of the primary goals of any social networking site, networking is a primary feature any social media platform has to offers to consider the platform as a social networking site. Successful internal networking isn’t limited to chatting it up with your closest co-workers. Internal networking among employees from different department help employees understand the business better and increase their job satisfaction. These are some examples of team-building activities you could hold for your company: Internal networking builds a culture of improved internal communications in an organization. For those connecting... Be Strategic. 10 Important Benefits of Networking 1. ", In general, the researchers said that networking is defined as a set of behaviors performed with professional contacts, including the mutually beneficial exchange of resources, such as news about job openings and advice on how to better perform a job. [Read related article: 5 Common Networking Mistakes and How to Avoid Them]. You meet like-minded people with the same struggles and ambitions, and gain insight into how nursing is changing.” The most important advantage of building a p… Business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients or customers. A lack of authenticity and/or integrity has a habit of becoming transparent, and is very unattractive to most people. Your current organization is a treasure trove of valuable professional connections just waiting to be discovered and nurtured, and by taking care to form meaningful relationships with your colleagues, bosses or even your employees, you can build one of the strongest, most beneficial networks of your professional life. Creating a Diversity and Inclusion Training Program. Running an Organization - For smooth operations of the organization, internal communication should be well implemented.To make it, the organization can utilize professional and powerful internal communication software like ezTalks Meetings. 12 Secrets to Keeping Employees Happy Without a Raise, 6 Tips for Writing an Effective Performance Review, How to Calculate and Improve Employee Turnover, Loosen Up! Your coworkers and bosses are an excellent source for references. A core co… Insider Insights One of the greatest benefits from successful internal networking is the kind of “insider” access it can give you to new jobs or departments that may be opening up. “It lets nurses get involved and become engaged. Internal networking results in lower levels of employee turnover. "That gives people less reason to stay," Porter said in a statement. Internal networking encourages employees to be innovative, as they have less fear of criticism. Also, internal social media usage is associated with the level of self-reported competencies of entrepreneurship, communication, and readiness for change. Being connected with coworkers helps employees make strong connections. In fact, the more you branch out and connect with colleagues in other departments, teams or locations, the more you learn about the organization as a whole and are able to have a more holistic view of your employer’s mission or position in the industry. It is crucial to keep your employees informed of major developments in the organization. … KEYWORDS . Networking is the key tool to growth in a resourceful career. CLICK TO TWEET. Behind the Research: Why Strong Community Ties Lower Turnover. People talk. Not so. You don’t have to make a special effort or attend a fancy event to build a strong professional network -- just look around your office and start reaching out! In external networking, professionals get together with people from outside their organizations, often facilitated by professional groups or trade associations. Managed network … FOCUS ON BUILDING RELATIONSHIPS AND HELPING OTHERS ACROSS YOUR ORGANIZATION. Being an internal networker means you are looking outside your immediate, day-to-day activities and thinking about how you can connect with and create value for others in your company. Significant changes in profitability and upcoming new projects are some of the details that are relevant to the employees and that will make them feel like they part of the organization. This will give you a much broader, yet deeper and richer sense of how the organization functions as a whole and will give you some valuable perspective on your own career path, field and industry. Getting your employees to network more with their co-workers, instead of with professionals from outside the workplace, could be the key to keeping them around, new research found. All rights reserved. Be honest with your employees. "People need to interact with each other.". Motivation - When internal communication is well implemented, it motivates the employees of an organization. The researchers discovered that while internal networking dramatically lowers the likelihood of turnover, external networking significantly increases the chances of an employee leaving. Participate in any training programs that the company offers. H&M has outsourced the production and processing of their goods to different countries majorly Asian and South East Asian countries.The figure above explains the fundamentals of a network organizational structure. Poor internal communication often results in employee frustrations, disengagement and lack of employee collaboration. Benefits of internal networking Better internal communication. Internal networking, by contrast, can be a little more casual. Employees are more willing to express their ideas in an environment where they feel appreciated. … While it is clear that the government expects companies to have an internal reporting system, there are benefits far beyond putting you in the government’s good graces. Business News Daily is owned by Business.com. Although I refer most of the times … Human resources, internal social media, internal social networking, enterprise social networking, employee engagement, collaboration, internal … Internal networking boosts job satisfaction and job embeddedness, according to a study published in the journal Personnel Psychology. By Editorial Staff. Moreover, internal networking means creating value, caring and giving authentic attention to others. Having int… Here are the most compelling reasons why you should make internal networking an immediate priority: One of the greatest benefits from successful internal networking is the kind of “insider” access it can give you to new jobs or departments that may be opening up. They provide a way for employees to interact and develop as … As this happens, your professional reputation (what others think of you or how they perceive you as a professional) becomes increasingly important, and it is a highly valuable asset -- often just as much as your experience or technical skills -- that can play a large part in whether or not you’re considered for career advancement opportunities. Networking is about sharing, not taking. This has been shown to boost overall cohesiveness, which in turn … It’s a great way to find out about career internal moves or opportunities for advancement before they are advertised publicly so that you can have ample time to prepare and express your interest in the role. Internal networking builds a culture of improved internal communications in an... Higher job satisfaction. If you’re looking to expand your skill set -- either to become more marketable or well-rounded in your field or to ready yourself (and diversify your resume) for a career shift, internal networking can give you an avenue to reach out to colleagues in other departments or roles and ask them for ways that you can either contribute to their area, strengthen your skills or learn more about their workload. Honest builds trust, and when employees trust you, they are likely to follow your counsel even if they do not understand the direction you are taking. Fifty-six percent of men and 65% of women report that managerial trust directly impacts their level of job satisfaction. "internal networking means creating value, caring and giving authentic attention to others." 9 benefits of an internal social network. For the study, researchers examined data collected from a group of industrial organizational psychologists who were followed for two years. Still not convinced? Business News Daily was founded in 2010 as a resource for small business owners at all stages of their entrepreneurial journey. Improved employee relations … Here are the top 9 benefits for business owners of getting involved in networking: 1. Too often we think that to be a successful networker we have to attend happy hours, luncheons, or conferences, handing out business cards at every turn and rattling off our elevator pitch to stranger after stranger. Also called a 30-second elevator pitch – it is compelling, concise, and conveys your unique value. Whether it’s asking for feedback or discussing your point of view, it will help you expand your knowledge and allow you to see things from another perspective.It is also likely that within a group there will be those who have already been where you are today. Most of us try to stay up to date with changes in our fields either through continuing our... 3. Sometimes it’s simply easier to engage in internal networking when you’re already at work because, well, you’re already there! If your time at work has gone from exciting to drab, focus on... 5 Common Networking Mistakes and How to Avoid Them, external networking increased the likelihood of turnover, Fifty-six percent of men and 65% of women. Employees are able to build strong connections resulting in improved job satisfaction.Â. Porter said both types of networking provide the opportunity to ask for advice, offer support and talk about common issues. Caitlin Porter, one of the study's authors and an assistant professor at the University of Houston, said that while work used to be a major source of friendships, that's no longer the case. Specifically, external networking increased the likelihood of turnover by 114%. What Is Industrial-Organizational Psychology? One of the … The opportunities that can present themselves through networking are limitless, says Angie Charlet, MHA, BSN, RN, director of quality and educational services for the Illinois Critical Access Hospital Network. Generation of referrals/Increased business This is probably the most obvious benefit and the reason most business … The previous study reached its conclusions by distinguishing between internal and external networking to determine why and how each factor contributes to employee decisions to leave a job. "This study reveals that internal networking behaviors are associated with a reduced likelihood of voluntary turnover, and external networking behaviors are associated with an increased likelihood of voluntary turnover," the study's authors wrote. An enterprise social network can improve your business, help you ferret out knowledge among your staff, and gauge your organization’s internal … Having Fun at Work Is Good for Culture, How to Successfully Manage Your Remote Workforce. Porter said that while employers can't forbid employees from networking outside of the office, bosses can increase the opportunities for internal networking. Internal networking can help you when you’re trying to make a career shift. A... 2) Effective … Regularly engaging with your contacts and finding opportunities to assist them helps to strengthen the … By networking with your current team members and colleagues, you’re adding to the ‘equity’ of your professional reputation. It is about forming trust and helping one another toward goals. An internal network sparks positive change in three key areas: 1) Improved Job Performance: When employees network with successful peers, the work ethic and approach can rub off. In many of my blog posts, I discuss the tools to use while networking.. … Likewise, they should also be able to rely on you as a key supporter in their own times of need, strengthening the professional bond and sense of trust that you share. If you’ve taken the time and energy to build meaningful relationships with your colleagues that are authentic and mutually beneficial, it’s pretty likely that those same colleagues will be there to support you or prop you up when challenges arise and problems need to be solved. When employees are connected, the work atmosphere get more enjoyable. Internal networking – whether written or spoken – is a cornerstone of employee performance. How employers can connect with employees. "So giving people the opportunity to build their relationships could help with retention. “Internal networking” is much the same as regular professional networking, except that the connections or ‘network’ you’re building come from your current employer. Internal communication generally provides a good relationship among senior staff and subordinates. Internal networking could give you a leg up on job openings Networking with others in your organization can provide exclusive knowledge on job opportunities before they are public knowledge. Powered by Madgex Job Board Software. One of the most important benefits of networking that people tend to overlook is that... 2. Here are the benefits/ pros of using WAN: WAN helps you to cover a larger geographical area. When you’re trying to make a career shift, often one of the hardest parts is catering your resume to your new field of … Getting started with networking can make you uneasy if you are not used to it. The study's authors said that internal networking can be as simple as gathering for coffee and doughnuts before a meeting. 1. 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