It has long been understood that networking makes a marked difference in professional success. In fact, many female leaders today have role models to thank for providing coaching, guidance, and an overall positive and empowering influence. As leaders redefine how women support each other through networking and mentorship, many leading insurers recognize the importance of those programs for junior and senior women alike. We recently celebrated the launch of our Novarica Women’s Network—a group designed to support emerging and established leaders by helping them build and strengthen professional networks, learn from industry experts, and connect with experienced women to expand their professional and personal development.
Our program launch included the publication of our first quarterly report, The Value of Networking, and our first all-member Virtual Meeting, held on GoToWebinar. Bonnie Wasgatt, EVP and COO for F&G, was our guest speaker for the virtual session; she provided powerful insights and real-life experiences to help our networking group create and expand their professional networks.
We’ve shared some highlights from our first quarterly report and monthly Virtual Meeting below:
While networking enables information exchange and drives careers, it’s ultimately about creating and nurturing lasting relationships. Professional relationships, when maintained over time, tend to yield impactful conversations, fresh insights, and endless opportunities to learn.
Networking can boost career development. Networking within your own organization can lead to increased job satisfaction, deeper understanding of company initiatives and operations, and enduring mentor and mentee relationships which may help you enhance your career. Networking outside your organization can lead to broader industry knowledge, access to fresh perspectives from those at peer organizations, and knowledge sharing that can help you tackle any challenges you face today.
Deana Lauria, one of our 2020 NWN Charter Leaders, shares, “I feel like I do have a group of people I can reach out to. If I am trying to figure something out or want outside opinions, that’s beneficial. At times, I’m able to provide that help in return. A lot of times, we’re all struggling with the same challenges specific to our industry…that to me has been the real benefit of having that informal network I’ve formed over the years.”
Networking can drive personal growth. If you’re open-minded and eager to learn new things, you can broaden your worldview through the process of networking. Exposure to diverse thought, experiences, and observations can boost your own creative thinking. Networking can also boost your confidence; breaking the ice with different people gets easier with practice, and greater self-confidence may even spill over naturally into your personal life.
Effective networking requires a certain amount of preparation, finesse, and follow-up. Doing some research on attendees before a conference (virtual or otherwise) never goes amiss. Practicing active listening and projecting confidence can go a long way toward making a strong positive impression on new acquaintances. After a networking opportunity, solidify new relationships by following up soon after the initial meeting. This is also a great opportunity to continue the conversation.
NWN Charter Leader Larissa Tosch advises, “If you’re in a situation where you feel like you don’t know anyone, connect with someone who looks like they know a lot of people. Leverage their network to build up your own.”
COVID-19 has forced us to rethink how we develop professional relationships. Fortunately, you can keep building your network while working from home. Check in regularly with your coworkers; being away from a social office environment can be hard on all of us. Schedule virtual coffees, lunches, and cocktails with your team to catch up. Maintain existing professional connections; just as you’d keep up with old friends, reach out to old acquaintances. Finding out how others are doing during this time of self-isolation can be a useful conversation opener. Join online discussions; participating in LinkedIn group discussions can be a great way to hear from others and grow your digital presence. Contributing to a lively thread is a great way to share your thoughts and brainstorm with others. It can even yield new relationships!
Effective networking and relationship building are less about information exchange and more about how both parties feel during the interaction. Like much else, networking is a lifelong learning process. However, it does get easier with time and practice, and it will ultimately pay professional and personal dividends.
The next Novarica Women’s Network Virtual Meeting will take place on May 15, 2020 at 1PM ET on the topic of “Maintaining a Healthy Work-Life Balance.” Speakers include Kimberly Koury, CIO and VP of Information Systems for GE Electric Insurance Company, and Deb Culliton, Vice President of Research and Consulting at Novarica. More information at https://novarica.com/womensnetwork.
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