Purpose of networking: to find possible position, or to find a referral?

Question

In the past, when there is steady opening / structured hiring programs, it makes sense to connect with people working in the firm you want to join, to find potential referrals.

But now, many firms are freezing headcounts, and delaying hires. I've sent out a lot of application without hearing back, and I think I should try to network. There's 2 possible approach:

1. Reach out to selective firms and see whether they have openings at this moment: the challenging part of this is about the reason of requesting to connect (to learn their experience?). Also, spending time to network with firms that you don't know whether there's a job opening may be a waste of time. However, there might be “luck” - many positions are not posted publicly.

2. Look through positions that are hiring and match my interest, and then reach out to people at that firm to seek referral. The downside of this approach is that, many firms seem to have already filled positions before they post the position on Linkedin.

Could you advise on how to network in an efficient / effective manner, under such tight labor market? Thanks!

Answer 1

Hi there,

Q: Could you advise on how to network in an efficient / effective manner, under such tight labor market?

I would recommend to look for a referral for every company interesting to you, regardless of whether they have an open position or not. Ideally you want to apply before the open position is out as then competition will be higher. With a tough market, a referral is even more important.

You can find more on referrals below:

▶ How to Get an MBB Invitation

▶ The Exact Steps to Get a Referral

Good luck!

Francesco

Answer 2

Hi there!

All of these are great questions.

Basically, I'd do it differently:

Take a step back and identify your target. What are the firms you'd want to work in? Create a list of at least 10.
Then for each identify the preferred role and research whether there is a deadline.
If you don't have clarity over the role or deadline, reach out to HR to clarify. This will already get going the relationship with them
In parallel, start connecting (leveraging your network) on LinkedIn with people at those target firms who are in your role or one role higher. Don't say why you're connecting in the intro message (that actually decreases conversion). Instead, send them a short polite message afterwards. Draft below:

"Hi [Connection's Name],

I hope this message finds you well. I recently came across your profile on LinkedIn and was impressed by your experience and insights in the [industry/field]. As someone who is passionate about [industry/field], I would greatly appreciate the opportunity to connect with you for a brief 10-15 minute call.

I'm particularly interested in learning more about your journey and experiences in [industry/field], as well as gaining insights into [specific topic/question]. I believe your perspective would be invaluable in helping me navigate my own career path.

Please let me know if you would be available for a short call sometime in the next week or two. I'm flexible and can work around your schedule. I'm looking forward to the possibility of connecting with you and learning from your expertise.

Thank you for your time and consideration.

Best regards, [Your Name]"

5. Then work on your application documents (CV, cover letter, etc.) Make sure that these are stellar. Work with a coach / expert to get them to absolute perfection.

6. Apply.

You can also leverage this guide to develop an application strategy:

Maximising your chances of getting a consulting job during an economic downturn

Best,
Cristian

Answer 3

Hi,

yes, you could do both things and you should if you haven't already started. But there is also merit in continuously networking - even if you are not immediately looking for a position. You never know what opportunities might present themselves in the future based on the connections you make.

Whatever you do though, try to not make it seem transactional. If people from consulting firms grant you their time, show them that you are actually interested in them. A referral will be a by-product if things go well. But you'll hardly get one if the person you talk to senses that this is the only reason why you are talking to them.

Best of luck

Answer 4

BOTH

You network for both reasons!