Networking can feel a bit scary for many people. For human social relations, small is often beautiful. After all, for a lot longer than modern civilisation has existed, humans lived in small, close-knit hunter-gatherer groups of about 150 individuals. In these groups, we felt safer. We had the capacity to know those around us reasonably well, and to be aware of how they knew each other (which helped us navigate socially). This explains why venturing beyond the familiar can be fraught with some anxiety.

In the modern world, however, networking is essential. Research tells us that extending our network helps us find new jobs, be more creative and do well as a leader (through the performance of our subordinates). The late entertainment industry legend Clarence Avant constructed a network in his lifetime that bridged many talents such as Bill Withers and Grammy Award-winning producers Jimmy Jam and Terry Lewis. If he didn’t navigate the unfamiliar, many of these bridges would never have been formed, and many talented artists perhaps never discovered. Martin Scorsese’s impressive body of work included connections with several gifted actors who could be called upon for multiple productions over the years (Robert De Niro, Leonardo DiCaprio and Harvey Keitel, among others). While leveraging this familiarity, he further discovered and worked with a multitude of different actors across his career. 

Unfortunately, many of us prefer the familiar. So powerful is this tendency to seek people who are “similar” to ourselves that it has a name – homophily – and forms a substantial research subfield. Indeed, despite all of the popular attention on networking, the reality is that many of us find it shallow and overly transactional. This shuts us off from discovering meaningful, inspiring and productive connections.

Our dependence on others

No matter how capable and independent we may be, much of our ability to do anything in this world depends upon others. It’s remarkable how incredibly dependent we ultimately are on other “experts” (for food, clothing, shelter, technology, information, etc.). Product-market ideas of all sorts depend upon the recombination of ideas from so many fields and experiences that it becomes less probable that it can be accumulated in the mind of solitary individuals. Robinson Crusoe-like development is unlikely to cut it in this day and age. 

How can we reach out and make new connections given our human nature? At the risk of over-simplifying things, let’s consider three do’s and three don’ts:

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Despite women comprising nearly half of the global workforce, only around 32 percent occupy senior leadership roles (director, vice-president or C-suite), according to the Global Gender Gap Report 2023 from the World Economic Forum. Leveraging LinkedIn data from 163 countries, the report reveals that in C-suite positions, women’s representation drops to just 25 percent. 

Meanwhile, in corporate America and Canada, representation of women in the C-suite has reached the highest level recorded so far – 28 percent – as per the recent Women in the Workplace study by Lean In and McKinsey. Although these gains are cause for modest celebration, the road to workplace equality remains considerably long.

As outlined in the study, women, especially women of colour, face their biggest hurdle at the first step up to managerial roles. Due to the gender imbalance in initial promotions, men end up occupying 60 percent of manager-level positions in a typical company. With fewer women promoted to senior managerial roles, the number of women further diminishes at higher levels within the organisation.

While there is considerable focus on the “glass ceiling”, it appears that women encounter significant career barriers long before reaching top leadership positions. So, what is impeding the progress of women, and how can we remove some of these roadblocks? (more…)

A stable job offers more than just a pay cheque; it provides a sense of belonging, self-worth and purpose. However, job stability is increasingly at risk. Technological advancements and economic shifts are challenging established roles, compelling workers to acquire new skills, change occupations or even re-evaluate their career paths to stay relevant.

By 2030, a significant portion of the global workforce – ranging from 3 to 14 percent, equivalent to 75 to 375 million workers – will need to switch occupations and learn new skills, according to aMcKinsey report. In advanced economies like the United States and Japan, this figure rises significantly to 32 percent and 46 percent, respectively.

Navigating career disruption can be particularly difficult for individuals who strongly identify with their profession and consider it a fundamental part of who they are. In contrast, research suggests that those who hold “multiple identities” are more resilient in the face of job loss, as they can use other identities as a protective buffer. In other words, when their work identity is threatened after being laid off, they can draw on other identities, like being a parent or community member, to derive a sense of self-worth and successfully change careers.

However, my recent research with Amy Wrzesniewski from The Wharton School reveals a different pattern. We focused on the field of journalism, which has experienced widespread job cuts and closures. Although all former journalists in our study considered their profession as central to their identity, there was a notable difference in their responses to losing their job. Some found it challenging to recover, while others quickly rebounded and reinvented their careers.

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The marketing landscape is undergoing a remarkable transformation, driven by the rapid expansion of the Internet of Things (IoT). In 2019, the estimated number of IoT-connected devices stood at 8.6 billion, but by 2030, this figure is projected to soar to 29.4 billion. This exponential growth is blurring the boundaries between products, services, data and software, heralding a significant shift in how marketing is perceived and executed.

On September 21st, INSEAD’s Marketing and Sales Excellence Initiative (MSEI) hosted a members-only event in Fontainebleau, France, titled “Next-Generation Marketing Skills”. Speakers at this seminar delved into two pivotal inquiries: What are the competencies required for next-generation marketing? And how can Marketing & Sales professionals best collaborate with Human Resources and Learning & Development teams so their firms acquire, grow, and retain the essential talent and skills? 

What’s happening in the marketing landscape?

The burgeoning array of IoT devices offers both blessings and curses for marketers. On the bright side, it presents a golden opportunity to enhance value propositions and build trust with customers. However, the complexity of managing and leveraging this ecosystem will inevitably pose challenges, making it somewhat of a curse. Moreover, as customers become increasingly aware of the growing number of sensors in everyday devices, their expectations of value from marketers are set to reach new heights.

Internally, the pressure on marketing teams will also mount. As investments in IoT marketing strategies increase, business leaders, including CEOs, will demand a clear demonstration of the return on investment (ROI). The famous line, “Show me the money,” will echo through boardrooms, underscoring the need for marketers to prove the value of their initiatives. 

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