October 9, 2024
October 9, 2024
How large is your organization?
If you are part of the CxO team, you might view the company as a whole — perhaps 500, 5,000 or even 50,000 employees.
However, for the average employee, the perceived size of the organization is often much smaller. It’s largely determined by the scope of their network within the company. For employees in organizations with 500 or more people, this network typically includes fewer than 10% of the workforce. The larger the organization and the more junior the employee, the smaller this percentage tends to be.
Helping employees expand their internal networks can significantly boost both performance and retention.
An employee’s network is vital in helping them secure their target role, increase the chances of a promotion, and receive career guidance.
According to LinkedIn’s Global Talent Trends Report (2020), 85% of jobs are filled through networking, making it one of the most effective methods for job seekers. Additionally, a survey by The Muse (2021) revealed that 80% of people who successfully secured promotions did so thanks to networking and recommendations from their professional circles.
Employees with strong internal networks are more likely to achieve their career aspirations, leading to increased engagement and retention. Conversely, those with weak internal networks are more likely to focus on growth outside the company, using their external connections to explore new opportunities.
Unfortunately, it’s likely that most employees have a weak internal network.
Several factors contribute to this:
- Work relationships: Employees generally build connections through their daily tasks and project collaborations.
- Special initiatives: Participation in non-core initiatives like volunteering or company events offers additional, but limited, networking opportunities.
- Informal connections: Traditional water-cooler chats or casual office interactions often facilitate internal networking.
However, in a remote or hybrid work environment, the effectiveness of informal connections has diminished, as employees have fewer in-person interactions. This makes building strong networks more challenging.
Here are strategies to boost internal networking within your organization:
1. Promote cross-functional collaboration
: Encourage employees to work across departments and geographies. You can achieve this by increasing participation in stretch assignments or internal gigs. Set clear objectives for department heads to prioritize cross-functional projects, promoting collaboration beyond the employee’s immediate team.
For global organizations, consider creating a central pool of talent for specific roles, allowing global sourcing of resources from this pool. This approach can broaden employees’ networks by exposing them to colleagues from different regions and departments.
2. Foster connections through shared interests
: Employees often form strong bonds when working together on common interests or causes. Encourage the creation of employee resource groups or interest-based communities. If these groups are already in place, assess how active they are and offer additional support to boost participation.
3. Increase informal connections
: For employees working on-site, consider initiatives like weekly drink carts, quarterly team events with allocated budgets, or communal spaces for casual gatherings. Additionally, build vibrant online communities where remote or hybrid employees can interact. This might be especially relevant for younger, digitally native employees who seek more informal virtual interactions.
Increasing the internal network of your employees will lead to greater engagement, higher performance, and longer tenure.
By creating opportunities for employees to connect across departments, regions, and shared interests, you're not only helping them build relationships but also fostering a culture of collaboration and support. A strong internal network provides employees with the guidance, mentorship, and visibility they need to thrive within your organization. It also encourages them to invest more in their growth and development within your company, rather than looking elsewhere for new opportunities.
Ultimately, a well-connected workforce is more agile, innovative, and committed, making your organization stronger and more resilient in today’s competitive landscape.
Let’s reimagine what your organization can achieve when people thrive. Discover how Virkware can elevate your employee experience and unlock the full potential of your workforce.
