In the context of people, networking can be defined as the continuous interaction with other people to exchange knowledge, information, and establish reliable contacts. Networking is a very necessary practice especially for professional and career development. It is usually a symbiotic coexistence where the networking individuals give and receive. This is an examination and analysis of the benefits that an individual can derive from networking.
- The most outright benefit derived from networking is information sharing. Naturally, the information held by different people differs at any particular moment. People in a network get the opportunity to ask questions, learn from others and expand or change their perceptions. For instance, learning from others saves an individual the turmoil of struggling to learn on their own. Researchers for instance can use brainstorming within their network to resolve a puzzle in their profession. Such information sharing can also be useful for people in school, and potential investors as they study where to invest their funds. Information sharing among investors will minimize the risks of losing on their investment and increases the chances for profits on their investments.
- Networking can also be a source of credibility for any individual as they interact with others. The people with exceptional talents, unique ideas and resources required by other people in the network may require such support from the other colleagues. Credibility follows exceptional and unique performance in any sphere of life. For example, in a huge accounting department, an individual can be the best in handling complex bank reconciliations. Such an individual will be accredited for such by his colleagues.
- Networking can also be a source of promotion for an individual. This can be exemplified by the case of career development, marketing anew product or even convincing people to join a particular course. For instance an individual can use his network, in the case of marketing, to introduce his new product into the market. The members of the network do not necessarily need to purchase the product but could buy for the sake of promoting their colleague. In such a way, others may learn about the product from people who already have an experience in it and the client base could probably grow as more people come in to buy the product. Promotion at work can also be achieved through networking. The use of referrals can work best in this case. For instance a recruiting manager may ask a fellow manager in their network, â€œAmong our junior accountants, who is the best for the position of a senior accountant?â€ In this case, a mere recommendation could earn someone a job promotion by the mere fact of being in a network.
- Connections are also necessary especially in this world of competing for opportunities and scarce resources. Just like promotions in employment, someone in a network of people with access to opportunities such as job opportunities stands a better chance of securing such vacancies. The existence of reliable networks may be the defining factor of whether an individual grabs an opportunity of misses it out completely. For instance if someone knows of an individual searching for a particular job, say accountant, they will relay such information upon coming across an opening.
- The belief that no man is an island also demands the continuous establishment and maintenance of strong and reliable networks. Such networks can increase the level of such reliable networks can boost the confidence and self esteem of an individual. Such confidence usually raises the abilities to present himself and his ideas with much ease and clarity.
Networking is therefore a very useful tact towards the success and cordial existence and continuous development of the human race. Most developments and discoveries in the world can be credited to the existence of strong networks.