Money.co.uk business credit card experts surveyed 2,000 people in order to gain insight into the state of business networking in the UK in 2024. The results showed differing attitudes between generations and genders.

Benefits of business networking – HALF of Gen Z have secured a job opportunity through networking

With 39% of respondents reporting that they secured a job opportunity through business networking, it’s clear that it has its benefits.

The latest data collected by LinkedIn shows that 70% of professionals hired had a connection at their company, and 80% of professionals consider networking vital to their career success.

Table showing respondents’ overall attitudes towards business networking:

All
Effective (Net)
49.51%
Very effective
13.69%
Effective
35.82%
Neutral
41.01%
Ineffective
4.69%
Very ineffective
4.79%
Ineffective (Net)
9.49%
Interestingly, Gen Z benefit the most from going to networking events, with half of them having secured a job this way. Males also benefit more than females, with 44% of males securing a job opportunity through networking compared to 33% of females.

In terms of the preferred method of networking, 37% of respondents said in-person events were their favourite, whilst 29% of people said they primarily used online platforms such as LinkedIn.

Figures from an additional 2023 study correlate with this, as LinkedIn was the most widely used social network among internet users in the UK, with over 30% of internet users reporting use of the service.

Business networking challenges – A quarter of people say lack of confidence inhibits their ability to network

In terms of self-belief and experience, the over-55 age group come out on top when it comes to networking, with 55% of them stating they face no challenges at all.

When comparing females and males, our survey found that males were significantly more confident in their networking skills, with only 19% stating a lack of confidence and experience as a networking challenge, compared to 29% of females.

Time constraints were cited as the largest concern of all, with 29% of respondents marking it as a networking challenge.

How can networking be improved – More than a quarter of people would like to see more diverse networking events

Over a quarter (27%) of workers surveyed said they would like to see the current state of business networking in the UK have improved accessibility and inclusivity, as well as better digital tools and platforms.

When you break these figures down by age group, almost 2 in 5 workers surveyed aged 16-24 (38%) and 25-34 (37%) would like to see the current state of business networking in the UK have improved accessibility and inclusivity, compared to 1 in 7 (14%) workers surveyed aged 55+ who said the same.

We can infer from this that the future of networking will be more diverse and inclusive, as the younger generations advance in their careers.