Networking 101

FEI-NETWORKING 101- FOR FINANICIAL EXECUTIVES

WENDY F. KENT

KENT EMPLOYMENT SOLUTIONS

LET’S GET STARTED!

PROFESSIONAL NETWORKING INCLUDES AN INTERPERSONAL EXCHANGE OF INFORMATION THAT

PROVIDES VALUE FOR BOTH SIDES.

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WHY SHOULD WE TAKE TIME TO NETWORK?

• KEEP YOUR PULSE ON THE MARKET

• GENERATING BUSINESS FOR YOUR ORGANIZATION

• SCOUTING FOR TALENT

• CURRENTLY IN JOB SEARCH/POISED FOR FUTURE JOB SEARCH

• SUBJECT MATTER EXPERTISE

• PEER SUPPORT

• BRANDING YOUR COMPANY

• BRANDING YOURSELF

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TYPES OF NETWORKING

• NETWORKING FORMATS INCLUDE BOTH YOUR ON-LINE PRESENCE & YOUR IN PERSON PERSONA

• SOCIAL MEDIA-MOST OF YOU HAVE A LINKEDIN PROFILE, WHAT OTHER ON-LINE SOURCES DO YOU USE FOR NETWORKING?

• GROUPS-WHAT GROUPS DO YOU PARTICIPATE IN? • TRADE ASSOCIATIONS-WHAT ASSOCIATIONS ARE MOST

LIKELY ALIGNED WITH YOUR PROFESSION OR PROFESSIONAL GOALS?

• RECRUITERS-WHO REPRESENTS THE ROLES I DESIRE? • ACADEMIC AND ALUMNI CONNECTIONS-HOW DO I

LEVERAGE THESE RELATIONSHIPS?

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MARKET INTELLIGENCE

• NETWORKING ALLOWS YOU TO ACQUIRE MARKET INTELLIGENCE-THIS IS IMPORTANT FOR YOU AS THE FINANCIAL LEADER

• GAIN VALUABLE INSIGHT INTO THE CURRENT BUSINESS CLIMATE

• BE AWARE OF CHANGES GOING ON IN THE BUSINESS COMMUNITY AS WELL AS YOUR INDUSTRY AND FUNCTIONAL AREA OF EXPERTISE

• UNDERSTANDING YOUR ORGANIZATION’S COMPETITIVE ADVANTAGES AND DISADVANTAGES

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NETWORKING FOR TALENT

• YOU AS A FINANCIAL LEADER SHOULD ALWAYS BE SCOUTING FOR NEW TALENT

• THE BEST CANDIDATES FOR OPEN POSITIONS COME THROUGH REFERRALS

• RETENTION-KNOW WHAT YOUR EMPLOYEES ARE SEEING AND HEARING

• CONFIRMATION THAT YOU AS AN EMPLOYER ARE STAYING COMPETITIVE AND ATTRACTIVE

• ONGOING MANAGEMENT OF RELATIONSHIPS FOR FUTURE ROLES YOU WILL NEED TO FILL

• MID LEVEL POSITIONS ARE INCREASINGLY HARD TO FILL

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NETWORKING-YOUR FUTURE JOB SEARCH

• ACCORDING TO THE FEDERAL BUREAU OF LABOR STATISTICS AVERAGE TENURE FOR SALARIED EMPLOYEES IS 4.6 YEARS (2012)

• NETWORKING KEEPS YOU IN FRONT OF PEOPLE AND TOP OF MIND

• EVEN WHEN YOU ARE NOT SEEKING A NEW ROLE NETWORKING IS A COMPONENT OF YOUR OVERALL CAREER MANAGEMENT

• NETWORKING ALLOWS YOU TO KEEP ABREAST OF POTENTIAL SITUATIONS & BENCH THEM AGAINST YOUR CURRENT SITUATION

• IF YOU FIND YOURSELF IN TRANSITION YOU ALREADY HAVE AN ESTABLISHED NETWORK

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HOW ARE POSITIONS BEING FILLED?

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SME’S

• GAINING INSIGHT INTO WHERE YOU WILL FIND EXPERTISE

• BUILDING TRUSTED WELL RESPECTED RESOURCES

• GETTING RECOMMENDATIONS FOR RESOURCES RELATED TO FUTURE INITIATIVES YOU WILL DRIVE

• ESTABLISHING WHICH VENDORS TO USE BEFORE YOU NEED THEM

• SHARING BEST PRACTICES AND LEARNING FROM YOUR COLLEAGUES

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PEER TO PEER SUPPORT

• DO YOU HOLD THE TOP POSITION?

• PEERS HELP YOU ACHIEVE BETTER OUTCOMES

• IT’S JUST GOOD TO TALK TO SOMEONE WHO IS NOT DIRECTLY INVOLVED

• NEUTRAL AND UNBIASED OBSERVATIONS

• GETTING HONEST FEEDBACK FROM TRUSTED SOURCES

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COMPANY BRANDING

• YOU REPRESENT YOUR COMPANY • EVERYONE IN THE COMPANY IS A RECRUITER • WHEN YOU NETWORK YOU ARE AN EXTENSION OF

YOUR COMPANIES MARKETING EFFORTS • THE IMPRESSION YOU LEAVE IS ADOPTED AND OFTEN

ACCEPTED AS A COMPANY WIDE REPRESENTATION OF THE CULTURE

• YOU CAN LEARN WHAT OTHER COMPANIES ARE DOING TO INCREASE AND IMPROVE BRAND AWARENESS

• CREATE BUZZ AND A DESIRE FOR PEOPLE TO WANT TO WORK FOR YOU AND YOUR ORGANIZATION

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INDIVIDUAL BRANDING

• THINK ABOUT YOUR PROFESSIONAL VALUE PROPOSITION

• CREATE BUZZ FOR YOURSELF • ASK YOURSELF-HOW DO I WANT TO BE PERCEIVED? • GET INQUIRES • BE CONSIDERED A SME OR GREAT REFERRAL

SOURCE • BE RESPECTED IN THE COMMUNITY • GIVE BACK IT WILL GO A LONG WAY WHEN YOU

NEED ASSISTANCE

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QUESTIONS TO ASK YOURSELF ABOUT YOUR

NETWORK: • DO YOU TRUST YOUR NETWORK TO GIVE YOU THE

TRUTH ABOUT THE REAL YOU?

• DOES YOUR NETWORK CHALLENGE YOU AS MUCH AS IT SUPPORTS YOU?

• DOES YOUR NETWORK FEEL VIBRANT AND DYNAMIC?

• DOES YOUR NETWORK REPRESENT YOUR FUTURE GOALS AS MUCH AS YOUR PAST?

• ARE THE NETWORKS CONNECTED TO YOUR NETWORK STRONG?

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THE NETWORKING PYRAMID

TIER THREE-FRIENDS, PEERS IN TRANSITION, MEMBERS OF

YOUR CHURCH OR OTHER GROUPS THAT COMPLIMENT YOUR OUTSIDE INTERESTS

TIER TWO-RECRUITERS (CONTINGENT), OTHER TRADE ASSOCIATIONS,

VENDORS I.E. BENEFIT BROKERS, 401K ADMINISTRATORS, HR CONSULTANTS

TIER ONE-TRUSTED ADVISORS INCLUDING BANKERS, CPA’S, ATTORNEYS, CONSULTANTS, OTHERS IN YOUR INDUSTRY

INSIDE YOUR VERTICAL, VENTURE CAPITAL FIRMS, RETAINED SEARCH FIRMS, PEERS, SME’S, INDUSTRY/ROLE SPECIFIC

ASSOCIATIONS

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STRATEGY FOR ORGANIZING NETWORKING ACTIVITIES

• SEGMENT YOUR CONTACTS AND REFERRAL SOURCES

• ORGANIZE YOUR TIME AND ENERGY ON THOSE SOURCES THAT HAVE THE HIGHEST RATE OF RETURN

• TIER ONE COULD INCLUDE: CPA FIRMS, BANKERS, ATTORNEYS, OTHER TRUSTED ADVISORS AND DIRECT DECISION MAKERS, SEARCH FIRMS (RETAINED), COLLEAGUES AT YOUR LEVEL, OWNER AND CEO’S

• TIER TWO-CONTINGENCY RECRUITERS, TRADE ASSOCIATION MEMBERS, BENEFIT BROKERS

• TIER THREE-RELATIVES, CHURCH MEMBERS, FRIENDS, CLUBS, PEERS IN TRANSITION

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NETWORKING EVENTS

• EVENTS ALLOW YOU TO MEET A LOT OF PEOPLE ALL AT ONCE-DON’T STOP HERE!

• IF YOU KNOW WHO WILL BE ATTENDING DETERMINE WHO YOU WOULD LIKE TO MEET AT AN EVENT AHEAD OF TIME

• VISIBILITY HELPS OTHERS BECOME COMFORTABLE AND FAMILIAR WITH YOU

• THIS IS AN OPPORTUNITY TO ESTABLISH INITIAL RAPPORT • DON’T SPEND YOUR TIME WITH PEOPLE YOU ALREADY

KNOW-YOU CAN ALWAYS SEE THEM SOCIALLY-SEEK OUT ONE NEW PERSON YOU DON’T ALREADY KNOW

• FOLLOW UP WITH ONE ON ONE MEETINGS WITH INDIVIDUALS YOU WANT TO GET TO KNOW BETTER

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WHAT DO I SAY WHEN I MEET SOMEONE AT A NETWORKING EVENT?

• CREATE A SUCCINCT MESSAGE THAT REFLECTS YOUR EXPERTISE

• SHOW GENUINE INTEREST IN THE PERSON YOU ARE TALKING WITH-BE INQUISITIVE ABOUT THEIR EXPERIENCE

• DETERMINE WHAT YOU HAVE TO OFFER • ASK YOURSELF WHAT IS MY VALUE PROPOSITION? • GET COMFORTABLE WITH YOUR MESSAGE AND

PROFESSIONAL BRAND • DON’T RECITE YOUR ENTIRE RESUME/JOB HISTORY IF YOU

ARE SEEKING EMPLOYMENT • BE THE AUTHENTIC YOU-DON’T SOUND LIKE YOU ARE

READING FROM A SCRIPT

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WE ARE ALL IN THE SAME BOAT!

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CONDUCTING A NETWORKING MEETING ONE ON ONE

• DO YOUR RESEARCH • ESTABLISH YOUR OBJECTIVES UP FRONT-KNOW WHY YOU

ARE HAVING THE MEETING BEFORE YOU AGREE TO MEET • ESTABLISH CONNECTIONS IN COMMON • ASK OPEN ENDED QUESTIONS TO LEARN ABOUT THE

INDIVIDUAL • ASK HOW YOU CAN HELP THEM • BE SPECIFIC ABOUT HOW THEY CAN HELP YOU • SHOW GENUINE INTEREST • RESPECT THE ARRANGED TIMEFRAME-IF YOU REQUESTED

THE MEETING MAKE IS CONVENIENT FOR THE OTHER PARTICIPANT

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NETWORKING IS NOT

• A ONE TIME EVENT • SPEED DATING • ROLODEX DERBY • A VENUE TO BE USED TO ASK FOR A JOB • A ONE SIDED RELATIONSHIP WHEN YOU NEED HELP • A NUMBERS GAME

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Networking Is

• AN OPPORTUNITY TO BUILD YOUR CONTACT BASE

• TO ESTABLISH NEW AND DEEPER RELATIONSHIPS AND ENHANCE YOURSELF PROFESSIONALLY

• TO LEARN FROM OTHERS

• TO SHARE IDEAS

• TO MAKE NEW FRIENDS

• TO GIVE BACK TO YOUR BUSINESS ASSOCIATES AND THE COMMUNITY

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NETWORKING SHOULD BE TARGETED

• EACH MEETING SHOULD PROVIDE YOU/YOUR AUDIENCE VALUE

• EACH MEETING SHOULD HAVE A PRE-DETERMINED OBJECTIVE

• MEETINGS WITH KEY REFERRAL SOURCES SHOULD PRODUCE NEW INTRODUCTIONS AND SUGGESTIONS FOR OTHER MEETINGS WITH ADDITIONAL CONTACTS

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NETWORKING SHOULD BE ONGOING NOT JUST PART OF A JOB SEARCH

• RELATIONSHIPS ARE VITAL IN BUSINESS, STAY ACTIVE AND ALWAYS NETWORK

• BUILD A LARGE AND DIVERSE NETWORK-MAKE SURE YOU ARE ALLOWING TIME TO WORK ON THIS EVEN WHEN YOU ARE EMPLOYED

• REMEMBER, MOST QUALITY POSITIONS ARE NOT ADVERTISED

• EXPLORE USING E-NETWORKING TO SUPPLEMENT FACE TO FACE EFFORTS

• DEVELOP A TRACKING SYSTEM THAT WILL WORK FOR YOU

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IN CLOSING

• MAKE NETWORKING A PART OF YOUR EVERYDAY PROFESSIONAL LIFE

• STAY ACTIVE AND HELP OTHERS WHO ARE IN TRANSITION OR NEED YOUR ASSISTANCE

• REMEMBER TO RECOGNIZE THOSE WHO HAVE HELPED YOU IN THE PAST

• SEE NETWORKING AS PART OF AN OVERALL BUSINESS AND CAREER MANAGEMENT STRATEGY

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Questions?

THANK YOU!

Wendy Kent, Principal

Phone: 503-293-JOBS (5627)

5200 SW Meadows Road, Suite 150

Lake Oswego, OR 97035

wendy@kentemploymentsolutions.com

kentemploymentsolutions.com

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