The Value of Networking: Insights from F&G’s COO and EVP Bonnie Wasgatt

As a 2020 Charter Leader of the Novarica Women’s Network, I had the pleasure of speaking with Novarica Vice President Nancy Casbarro at our first Virtual Meeting on the topic of networking. Networking has always been a huge part of my professional life. In the past 25 years, I don’t think I’ve gotten a new job or position in any other way aside from networking, from starting out to my current role at F&G.

My own personal network started out as a group of colleagues that turned into a book club—we’re a small group of 11 female executives that meets once a month. There’s a lot of confidentiality among group members, which is invaluable. To keep the network going, all members try to attend the meetings; we rotate houses on a monthly basis. One of our members has since moved to Florida, but she comes up twice a year! That kind of consistent effort is what keeps a networking group alive.

It’s important to have and nurture a variety of networking groups. I’m part of quite a few; I have inner and outer networking circles, which are pretty diverse. My inner circle consists of trusted colleagues and long-time friends; these are people I can be very direct, open, and even fragile with. My extensive outer network consists of those I’ve worked with throughout my career and kept in regular contact with. I might wish them a happy birthday or congratulate them on a new job to keep the connection going. I also like to send them links to interesting articles, videos, or books I come across—that tends to reopen any previously closed conversations!

Many people overlook the importance of all-women networking groups. Especially in the insurance technology space, an area which still tends to be very male-dominated, it can be a challenge to find enough women to connect with for advice and experience sharing. In my group, we specifically talk about women’s challenges and issues that might not be brought up regularly at our companies. We also share job openings with one another and work hard to promote women into senior roles.

I think many things about our network would change dramatically if men were a part of it, primarily from an honesty and openness perspective; that’s why we keep this group exclusively for women. We all also participate in other diverse networking activities in support of our careers and education.

Ultimately, networking is a job. It’s not easy, and it takes considerable time and effort. However, bear in mind that most people truly want to stay connected. Assume that the people you’re talking to are excited to learn new things and are eager to lend a hand. Asking for help can be a great way to open yourself up to a new relationship.

Do the best that you can to expand and nurture your network every day. Volunteer at a charity event, grab coffee with a coworker, ask an acquaintance out for lunch. Use LinkedIn to reach out to people you haven’t spoken to in a while! Those personal connections you create through networking will benefit you throughout your entire professional career and can create long-lasting personal relationships.

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