With the employment market off to its best start in over five years, a recent survey conducted by ExecuNet, the executive job search and recruiting network, reveals networking generates nearly twice as many interviews at the executive level than any other activity.
According to the survey of 1,483 professionals with an average salary of $193,000, the top three sources for job interviews include:
1. Networking contacts (46%);
2. Internet job listings (24%); and
3. Unsolicited contact from a recruiter (5%).
Despite the unparalleled opportunity generated by networking contacts, just 19% of executives rate their own network as excellent or very good, while 29% describe it as poor or weak.
ìNetworking isnít the only way to find a new job, but it is by far the most efficient and effective,î says Dave Opton, CEO and Founder of ExecuNet. ìWhile there are significantly more job opportunities for executives today than just one year ago, the hidden market remains the deepest pool at this level and it can only be tapped through networking.î
A separate survey of 181 search firms provides additional insight into the value of a strong network. According to this survey, during the past twelve months, 63% of all executive job openings were filled with a candidate that was sourced through networking. Other top sources recruiters relied on during the past year include internal resume databases, which helped fill 16% of all openings and Internet job postings, which accounted for 11% of executive placements.
To help executives improve the quality of their networks, ExecuNet offers the following advice:
Empower Others
The perception that networking requires contacting strangers and asking for help couldnít be more misguided. The most effective networks are built on a foundation of mutually beneficial interactions. Always be prepared to offer help or information of value to your contacts. If you believe networking is strictly a means for your own personal advancement, very few individuals will provide any useful assistance.
Be Persistent
Devote at least 20 minutes of every day to nurturing the existing relationships in your network. Staying in touch with former co-workers, vendors, suppliers, friends, and relatives will help keep you top of mind when a need or opportunity arises. Itís much easier to maintain a network than it is to start from scratch at an inopportune time.
Be Resourceful
Your neighbors and personal interest organizations like Little League, Habitat For Humanity, or Trout Unlimited all present opportunities to add valuable contacts to your network. Internet forums or special interest groups and face-to-face networking meetings listed on the Business Calendar of your local newspaper are also venues that can be tapped to strengthen your network. Leave no stone unturned - opportunity often arises in the most unlikely places.
Amid Explosive Job Growth, A Tried And True Search Strategy Prevails
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