If you want to build your career and be more involved in business, networking plays an essential role. It can be a way of finding a job that has meaning and achieving your career goals.
If you need some convincing, the following business networking statistics should make things clear.
General Business Networking Statistics 2024
- The top benefit of online networking is that it saves time (92%).
- 70% of scientists said in 2021 that digital conferences were lacking in opportunities for good networking.
- Face-to-face meetings provide better opportunities for building business relationships according to 95% of people.
- Small meetings are more beneficial than meetings with more than 10 people.
- The chance of a man finding a job via networking is 26%, while it’s 25% for women.
- 72% of people who take part in in-person meetings consider body language valuable for making first impressions.
- If an employee is hired via referrals or connections, they are more likely to stay longer and also become a vital cog in the company machine.
- LinkedIn is used by 84% of people for strengthening their network professionally.
- Between 5% and 20% of new customers come from trade shows.
- Business cards create the first impression for 72% of people.
How to Network Stats 2024
- LinkedIn undertook a study in 2017 and it found that 35% of participants had found a new opportunity following a casual conversation on the platform.
- 25% of people taking part in the survey said the platform had helped them develop a new business partnership.
- 61% of people taking part in the survey believed that regular online interactions could result in potential job opportunities.
- Business cards create the first impression for 72% of people. This includes the use of digital business cards. Used by a growing number of people from COOs to sales reps, digital business cards give users the ability to instantly share contact information as well as links to websites, social media accounts, and more.
Challenges of Business Networking Statistics 2024
- While 79% of professionals consider networking to be a valuable career progression tool, only 48% connect with their network consistently.
- The main challenge for business networking is a lack of time.
- 49% of people surveyed said there was not enough time for networking.
- Millennials are worst at maintaining their connections, with 43% of them struggling to keep in touch.
Impact of COVID-19 on Business Networking Statistics
- Since the beginning of the pandemic, only 42% of professionals are reaching out to their connections looking for job opportunities.
- In 2021, there was an increase in conversations of 55% on LinkedIn.
- 70% of small business owners do their networking online.
- $16.5 billion was lost by the events and exhibition industry as of March 2020.
- Investment in virtual events is planned by 93% of organizers.
- According to 80.2% of event professionals, it’s possible to reach a much wider audience using virtual events.
Business Networking Trends 2o23
- The most effective location for networking is restaurants and bars, according to 38% of professionals.
- In 2020, there were more than 26,000 co-working areas in existence around the world.
- 70% of millennials think that going to the office is no longer a necessity.
- Google Translate is used by more than 500 million people daily.
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FAQs
What percentage of jobs are found through networking?
According to research by HubSpot, 85% of job vacancies are filled with the help of networking. According to research from CNBC, 70% of jobs are never publicly published.
What are the top 5 professional networking sites?
The five primary professional networking sites are LinkedIn, Quora, Viadeo, XING, and Plaxo. Which networking site will be most beneficial for you is determined by where you’re physically located.
What is one of the major challenges of networking or performing business in a connected world?
One of the major challenges in relation to networking is security issues. The issues include security breaches and data loss.
Conclusion
Networking plays a critical role in the business world and also in the job market. Many people use networking to find themselves a new job. In addition, many business leads and sales are the results of networking.
Even though the benefits of networking are undeniable, one in four professionals still doesn’t network at all. If you happen to be one of them, hopefully, the stats in the post will make you think a little differently.
Sources:
Apollo Technical.
Tech Jury
Novo Resume
Fits Small Business
Finances Online
Review 42
Zippia
