A recent report that came out from LinkedIn has indicated that networking is especially important in some particular industries over others. A trend that the report noticed was that high specialisation industries, venture capitalist companies and management consultancies amongst others, tend to hire from their networks often compared to usual.
This is just one example of the power and pull that networking can bring to you or your business. Communication isn’t something that should be underestimated within any industry. Making sure your networking skills are of the best quality should be considered a top priority for any business.
Some of the industries where networking is most pivotal are –
During the early years of when Gaming industry had just begun, there were very few people who knew anything about it and hiring often happened on a word to mouth basis. A trend that has
continued despite the boom which has lifted the gaming industry into the current $100 billion worth.
Computer and Network security
This industry requires a highly specialised skill set. The kind of skill set which is niche and the people with such skills know each other. Hirers also prefer accepting referrals from their own employees from within their social circles.
Venture Capital and Private Equity
Networking is a very powerful tool for getting a job in the venture capital/ private equity industry. Many openings are filled internally and do not even see being advertised.
This may seem like a bit of a stand out in relation to the other industries mentioned through this article, but business networking is just as important in Healthcare as it is in Film or Media. The ability to communicate to peers within this industry is pivotal for not only cosmetic surgeons and general practitioners, but also those who work in health equipment sales or more specifically injury prevention. Both of these areas need clients just as much as any other and networking with other companies or within your local area will help you sell the right safety equipment to the right hospital, clinic or workplace.
Many hires in this industry is via word of mouth. The social circle is especially important in this particular sector. More than 26% hires in this industry is through networking.
The consultancy industry works largely on contacts. Repeat contracts and new clients are received on referral basis. Networking should have a strong and stable base in this particular industry.
Defence and Space
Defence and space are two of the most extremely niche, specialised fields. With lower number of people actually working the field, hiring largely relies on referral basis.
Computer Hardware and Software
More than 20% of hiring is from first degree connections of employees already in the industry. Technical companies often have an HR policy that gives first preference to internal referrals. A
healthy referral bonus for referrals at different levels of recruitment encourages internal employees to give reference of good people.
Almost everyone owns a smartphone today. The wireless industry is a $200 billion strong market.
With the advent of new technologies like VR and IoT, the wireless communication industry has a lot of potential left.
The importance of networking in the media industry is particularly high. In a creative industry, the ones who shake hands and talk to as many people as possible, in as many events as possible are the ones who gain the most spotlight. In the best of times or the worse of times, the stronger
network you have, the better jobs you will find in this industry.
In all of the above mentioned industries, at least 20% and above is the internal hiring rate using
referrals and networking. With the advent of professional networking websites like LinkedIn,
BranchOut, Zerply and many more, networking is no longer a simple matter of talking to some
people in a party and exchanging mobile numbers. Most professionals are increasingly preferring to update their information in such websites and staking out jobs available using their contacts and network branches even more than specific job-seeking websites. This has brought tremendous spotlight on the issue of good networking. Even at the lowest level of networking spectrum, at least 7% of hires are through networking. It is quiet obvious just how much further importance, networking is going to gain in the coming years.