Person-to-person networking continues to be job seekers’ most successful tool, according to a study by Right Management. The firm analyzed job data on the nearly 60,000 individuals throughout North America to whom it provided career transition services over the past three years.
Traditional networking was the source of new career opportunities for 41% of job candidates last year, while Internet job boards accounted for 25% of new positions landed.
Source of New Job (59,133 job seekers)
|
2010 |
2009 |
2008 |
Networking |
41% |
45% |
41% |
Internet Job Board |
25% |
19% |
19% |
Agency/Search firm |
11% |
9% |
11% |
Direct Approach |
8% |
8% |
8% |
Online Network (2010) |
4% |
na |
na |
Advertisement |
2% |
7% |
7% |
Other |
10% |
12% |
14% |
“The job search is changing and some approaches are losing ground to others, but classic, systematic networking continues to be most effective way to find suitable employment,” said Carly McVey, Right Management’s Vice President of Career Management.
“Certainly technology plays a growing role. But online social networking may not always be separate from traditional networking since one so often leads to the other. A job seeker uses the Internet to track down former associates or acquaintances and then reaches out to them in person. And, just like a cold call, the Internet is a way to make an initial contact with a prospective employer.”
Over the years, I have discovered success is powered by three things: know-how, reputation and a network of contacts. That's it. That's the secret.
The formula for success = your human capital (what you know and can do) times your social capital (who you know and who knows you) times your reputation (who trusts you).
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