23 Powerful Networking Statistics for 2024

Networking is an essential part of building a successful career and growing a business in today‘s interconnected world. With the rise of social media and remote work over the past decade, networking has evolved from simply exchanging business cards at events to forming meaningful connections online and offline.

To understand the current state of networking, here are 23 powerful statistics for 2024:

Key Networking Statistics

• 85% of jobs are filled through networking (HubSpot)
• 46% of freelancers find work through connections (HubSpot)
• 77% of recruiters use LinkedIn to find candidates (LinkedIn)
• 28% of business could be lost if executives stop networking (Apollo Technical)
• 35% of people got a new opportunity from a LinkedIn message (LinkedIn)
• 40% of people prefer online networking over in-person (Novo Resume)
• 49% of people say they lack time to network more (Novo Resume)

1. 85% of jobs are filled through networking

Networking is the most effective way to find a new job. According to HubSpot, 85% of all jobs are filled through networking. Only 15% of jobs are filled through formal job applications and online postings.

Networking works because many open positions are never publicly advertised. Recruiters often look within their own network first to fill roles. Tapping into the "hidden job market" via networking makes you much more likely to hear about opportunities, get your resume noticed, and receive a referral.

2. 77% of recruiters use LinkedIn to find candidates

LinkedIn has become the go-to platform for networking and recruitment. According to LinkedIn‘s own statistics, 77% of recruiters use LinkedIn to find potential candidates for job openings.

With over 810 million members as of 2022, LinkedIn is the largest professional networking site. It offers features tailored to finding jobs, showcasing your skills, connecting with colleagues, researching companies, and more.

Maintaining a polished, up-to-date LinkedIn profile is essential for networking in the digital age. You can use LinkedIn to directly communicate with connections, join relevant groups, follow companies, and apply for jobs.

3. 46% of freelancers get work through connections

Networking is particularly vital for freelancers and independent contractors who need to continually market themselves and find new opportunities.

According to HubSpot, 46% of freelancers surveyed found work through referrals from personal connections like friends, family members, or previous colleagues and clients.

Strong networking gives freelancers access to "warm leads" and inside information about potential projects. A direct referral also builds immediate trust and credibility with a new client.

4. 28% of business could be lost if executives stop networking

Networking should be a priority not just early in your career but at every stage, all the way to the C-suite. According to Apollo Technical, senior executives surveyed said they could lose up to 28% of business if they stopped networking activities.

Maintaining connections, attending industry events, meeting new contacts, and gathering insights through peers are just as vital for experienced leaders as for recent graduates. Never assume you no longer need to network.

5. 35% got an opportunity from a LinkedIn message

LinkedIn estimates that for every 10 job applications submitted through their platform, at least 3 result in an interview.

Furthermore, around 35% of survey respondents said they had received a new business opportunity after having a casual conversation initiated by an InMail message on LinkedIn.

Reaching out thoughtfully via LinkedIn messaging and comments can spark fruitful professional conversations and sometimes lead directly to jobs, projects, partnerships, investments, and more.

6. 40% prefer online networking over in-person

While in-person networking at events, conferences, and trade shows remains popular, digital networking enables broader connections. According to Novo Resume, 40% of professionals actually prefer online networking activities over in-person networking.

Platforms like LinkedIn, Twitter, Facebook Groups, and Slack communities allow forming connections with peers worldwide. Online networking is more convenient and can fit any schedule.

7. 49% say they lack time to network more

The top networking challenge is simply finding time. In Novo Resume‘s survey, 49% of respondents said they do not have enough time to network as much as they would like.

With busy schedules, networking can slip down the priority list. But carving out a small amount of time each week to nurture your network is critical. Look for small ways to incorporate networking into your routine.

8. Millennials struggle most with staying connected

Building a network is one thing, but maintaining it is just as crucial. While 93% of millennials own smartphones helpful for networking, Novo Resume found 43% of millennials have trouble staying in touch with connections – more than any other generation.

Experts recommend checking in with your network consistently. Set reminders to reach out to connections periodically. Stay up to date on their career developments and offer support. The more you give to your network, the more you‘ll gain.

9. 70% of jobs are not advertised online

While job sites like LinkedIn and Indeed are popular, Novo Resume reports 70% of available jobs are actually never advertised online. The hidden job market is real.

Again, this highlights the value of networking to uncover unposted roles. Tapping into your connections who work at target companies, meeting recruiters in person, and getting insider referrals can expose many more opportunities.

10. 60% of the global population uses social media

Social networks have created new networking avenues. According to Novo Resume, about 60% of the total global population now uses social media platforms actively.

Platforms like Twitter and Reddit enable networking based on shared interests or ideas rather than existing connections. Facebook Groups are another popular networking resource.

11. But only 48% consistently stay in touch with connections

However, as mentioned above, maintaining regular contact with connections is difficult. Per TechJury, 79% of professionals agree networking is important for career progression but only 48% consistently stay in touch with their network.

Make the effort to check in with connections periodically. Share interesting articles, introduce people over email, or schedule phone catch-ups. Nurturing your network should not feel like a chore. Find creative, meaningful ways to add value.

12. 85% of jobs are filled via referrals

Referrals are the top source of hires, according to Novo Resume – accounting for a whopping 85% of all filled positions.

When someone in your network refers you as a candidate for an open role, it immediately gets you noticed. Referred candidates are more likely to be interviewed and hired since they come pre-vetted.

13. Referral hiring is faster and cheaper

Why do companies love hiring by referral? Referral programs tap into employees‘ trusted networks, surfaces strong candidates, and reduces costs.

Per Novo Resume, 67% of companies report referral hiring is faster and less expensive than other hiring methods. Rather than sifting through hundreds of applications, hiring managers can focus on just a few referred candidates.

14. Most find in-person networking valuable

Despite the rise of digital networking, the value of in-person connections endures. According to HubSpot, 93% of polled consumers and business owners find in-person networking at least somewhat valuable.

In-person networking allows for nuanced conversations, immediate follow-ups, and stronger personal bonds. Video calls facilitate some face-to-face benefits when meeting in-person isn‘t possible.

15. Nonverbal cues impact impressions

Why do people continue to value in-person networking? Human interaction is about more than words.

According to Novo Resume, 77% of professionals say nonverbal components like eye contact, handshakes, and body language shape their first impressions when networking. Facial expressions also communicate additional layers.

16. Casual settings facilitate networking

While conferences and trade shows offer networking, many connections spark more casually. Per Novo Resume, 38% of professionals report successfully networking in settings like bars, restaurants, and coffee shops.

Informal networking settings tend to foster deeper conversations and relationship building between new contacts. There‘s less pressure and more opportunity for organic interactions.

17. Business cards still matter

In the digital age, business cards may seem antiquated. But they continue playing a role in in-person networking. According to Novo Resume, 72% of people still base first impressions of a company on their business cards.

Bring quality business cards to events and follow up within 24 hours with a LinkedIn connection request. Well-designed cards with contact details at least make exchanging info easier.

18. Networking boosts career opportunities

What do people hope to gain from networking? According to FinancesOnline, 80% of professionals consider networking essential for their career success. Networking opens doors.

Forging connections leads to inside information about potential jobs, advanced notice of openings, referrals, influence with decision-makers, advice on career moves, and more.

19. Most professionals network to build relationships

What motivates networking? Developing strong relationships, not just landing the next job. In a ThriveMyWay survey, 96% said they network to build relationships, while only 4% network purely to create business opportunities.

Focus first on forming genuine connections without any agenda. If you help others, they will keep you in mind when opportunities arise.

20. But some are discouraged from networking

The COVID-19 pandemic changed workplace dynamics. Per Review42, 51% of laid-off professionals reported feeling embarrassed or discouraged from networking in 2020 due to job loss.

Networking is a long-term investment. Don‘t let setbacks or perceived shame stop you from nurturing your relationships. Be proactive in supporting your network, not just asking for favors.

21. Post-pandemic, fewer have expanded networks

Has networking declined due to the pandemic? Per LinkedIn‘s research, just 42% of professionals since early 2020 have proactively reached out to connections about job openings. And only 35% have introduced themselves to new connections.

Virtual fatigue and career instability have impacted networking for many. But relationship-building remains critical. Look for pandemic-safe ways to connect, even if just via thoughtful online outreach.

22. Networking evolves but remains essential

LinkedIn summarizes the current state of networking: while the nature of networking has changed post-pandemic, relationship-building is as important as ever for career success.

Focus on nourishing your network by providing value to each connection. Do favors, share advice, make introductions, and celebrate wins. Your network will reward your efforts.

23. Networking drives business growth

Beyond individual careers, networking is crucial for business growth. According to Zippia, entrepreneurs depend heavily on networking activities:

• 56% use LinkedIn
• 32% use Facebook
• 26% network at conferences
• 20% network at trade shows

Strong professional networks give companies access to business opportunities, potential partners, investors, qualified employees, and influencers. Make networking a priority.

Networking remains one of the most effective strategies for career development and business expansion in 2024 and beyond. While techniques evolve – embracing more online connections – human relationships are still at the core.

Nurture your personal brand and expand your network consistently. Add value by supporting others‘ success. When done right, networking can enrich your career, reveal "hidden" opportunities, and establish you as an industry leader.