Internal Network

To Make More Money, Create an Internal Network

Recent research has found that building internal networks and staying in touch with former colleagues pays career dividends.

Thus, if you want to make more money, you will benefit from getting to know your colleagues. But, how do you do that?

The Research – Internal Networks Pay

First off, it’s important to know that 2009 peer-reviewed research found you benefit from connecting with colleagues while you are employed.

In fact, the researchers learned that internal networking improves your:

  1. Current salary.
  2. Salary growth over time.
  3. Career satisfaction.

They studied networking approaches, including:

  1. Using company events to make new contacts.
  2. Talking with colleagues from other departments about their work.
  3. Asking colleagues for advice.
  4. Accepting invitations to company-related functions and festivities.
  5. Asking colleagues to give regards to others.
  6. Exchanging professional hints and tips with others.

As you can see, regardless of your company’s culture, you can use their list for ideas to build your network.

Try These Internal Networking Activities

Drawing on the research, try some of these activities:

  1. Attend company events.
  2. Chat with your colleagues.
  3. Ask co-workers for advice.
  4. Play ping pong with your aspirational next boss.
  5. Pass along a “hello” to a colleague at a different location.
  6. Be willing to give and receive mutually beneficial information.
  7. Connect with colleagues on LinkedIn.

Stay in Touch with Former Colleagues

Additionally, newer research published in 2017 reported that former colleagues are the best source of new jobs.

60% of 380 job seekers in a Bay Area job hunting group found jobs through former colleagues (click for more on how to stay in touch with former colleagues).

BTW, the research is also interesting because it means that employee turnover is good for your career. Every time a former colleague joins a new company, you gain a potential ambassador in that organization!

What’s the ROI on Creating an Internal Network?

In summary, networking delivers these meaningful returns:

  1. First, you will like your job better.
  2. Second, you will make more money.
  3. Third, you will find your next job more easily.

What’s not to love?

Image: .Shock
Updated July 2019

© 2016 – 2019, Donna Svei. All rights reserved.

Comments 2

  1. Donna, thanks for including my LinkedIn tip on internal networking! This is a fantastic list and I will share it with our clients. Professionals and leaders often neglect their internal network and they are loosing out on a valuable resource to increase their success at their current company and uncover jobs for the future.

  2. Hi Donna,

    The stats on finding your next job via former colleagues are compelling. People do like to do business with people they know!

    Thank you,

    Donna

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