The Power of Personal Connections in Today's Job Market
Business professor and entrepreneur Scott Galloway recently shared crucial career advice on Shane Smith’s Vice News podcast, emphasizing that networking and personal connections remain the key to landing jobs and building a successful career.
The Stark Reality of Modern Job Searches
Galloway highlighted the overwhelming competition in today's job market. "Google puts out a job opening, they get 200 CVs within like eight minutes. They limit it down to the 20 most qualified. Seventy percent of the time, the person they pick is someone who has an internal advocate," he explained.
This aligns with research showing that while employee referrals represent only 6% to 7% of job applications, they account for 37% to 45% of successful hires across various industries.
The Social Imperative: Building Your Network
Galloway's advice is surprisingly straightforward: "The way you [achieve professional success] as a young person is you go out, you make friends, you drink, and at every possible opportunity, you help that person out." He also recommends speaking well of others behind their backs and positioning yourself to be remembered when opportunities arise.
"You want to be placed in rooms of opportunities when you're not physically there," Galloway emphasized, pointing out that effective networking creates advocates who will recommend you even when you're not actively job searching.
Why Referrals Matter More Than Ever
Research supports Galloway's claims:
- Referred candidates are 40% more likely to be hired than those sourced through other means
- People hired through internal referrals tend to perform 25% better and stay 70% longer than employees hired through traditional job boards
The Remote Work Dilemma
This advice has significant implications for the ongoing debate about remote work versus office returns. According to a 2021 study from the U.K.'s Office of National Statistics, young professionals working remotely are 38% less likely to receive promotions compared to their office-based counterparts, largely due to reduced social interaction and networking opportunities.
Watch the Full Interview
Fortune used generative AI to help with an initial draft of the original story. An editor verified the accuracy of the information before publishing.
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