As we reach the latter stages of our careers, there’s a natural change in focus. More emphasis, for example, on mentoring, retirement planning and finding fulfillment; less effort toward climbing the corporate ladder.
One of the most striking shifts is letting your professional network languish. It usually happens gradually (and often unintentionally). You may step back from volunteering with industry associations. You touch base only infrequently with executive recruiters. You engage less on LinkedIn and other online platforms.
Instead of dialing back, however, your 50s and 60s are the ideal time to amp up your connections. Not only will a robust network help you uncover more opportunities to use your talents in your encore chapter, studies show you’ll also set yourself up for a happier, healthier life by surrounding yourself with meaningful relationships.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Professional networking takes on new importance in your 50s and 60s
You can leverage a strong professional network at all stages of your career. However, the benefits are most wide-ranging once you’ve established your corporate credentials and are considering “what’s next?” That’s because for many, the transition from full-time work to your next chapter can be challenging and stressful.
A Harvard University study of adult development demonstrates what’s at stake. It shows that “having good relationships — whether with partners, friends, family or others — is the ‘strongest predictor’ of living a long, healthy and happy life into old age, more so than health factors such as high blood pressure and cholesterol.”
Keeping your professional network alive and well in your 50s and 60s is one easy way to “pay it forward” when it comes to your future. Relationships play a key role in alleviating stress and preventing loneliness — issues that can trigger physical and psychological symptoms and hurt your health. Good relationships also keep you cognitively engaged and mentally fit.
With an active network, you can:
- Demonstrate your expertise and thought leadership
- Stay connected to peers and those in your field
- Give back by supporting professionals of all ages
- Discover new opportunities that fit your skills, experience and passions
- Create fulfilling relationships for positive well-being
Build and engage your professional network with these steps
Beyond supporting your health, an active professional network will help you achieve your goals. For instance, is corporate board service in your future? Are you interested in making a pivot to non-profit work or volunteering? Is consulting, speaking or a fractional role a good way to use your talents in your next act? Exploring these options with others is a great place to start.
In fact, more than 80% of the executives we work with find their next opportunity through professional networking. Senior leadership positions and board of director seats, in particular, are rarely advertised.
Follow these steps to strengthen your network:
1. Develop a strategy. Consider what’s next for your career. Then make a list of ideal connections (role, industry, company) who will have a perspective on the topic. See who’s already in your network and meet with them first. Ask both for their insights and for introductions to one or two additional contacts.
2. Create a strong LinkedIn presence. A good profile is essential because an online search will be one of the first places others go to learn about you. Use a professional photograph and keep your content current. Don’t forget to include your board service and volunteer work.
3. Join groups and attend events. Next, get out there! Find gatherings with others who share your passions and interests. Conferences and events are great ways to keep up on trends and meet new people. Even charitable galas and sports tournaments put you next to interesting new acquaintances.
4. Set up one-on-one meetings. Individual conversations form the core of successful networking. Reach out every week and schedule a coffee or a Zoom call with someone. Follow expert Marcia Ballinger’s rules for networking and keep these discussions focused and short — just 20 minutes is all you need.
5. Set up a personal contact list. Remember to keep track of names, phone numbers and emails in a personal list, rather than your company’s system. That way, you can leverage your network even when you leave your current role.
6. Stay engaged with your connections. Lastly, keep in touch. Block out time (even 10 minutes a day) to read, like, comment and share posts on LinkedIn. Circle back periodically via email or a call with those who are especially relevant to your goals.
Put aside your anxieties and embrace the benefits of networking
Even with all these benefits, many people still feel anxious about the prospect of networking. It helps to approach your meetings as a two-way street: You’re showing curiosity, interest and attention to a fellow professional’s expertise. Most executives are flattered to share their experience and help others.
In exchange, remember the value you can offer others (even when you’re retired or in career transition). Always ask how you can help, and be gracious about making introductions, recommending resources and staying in touch.
Before you know it, you’ll be enjoying fulfilling new opportunities, surrounded by a community of like-minded individuals. That’s the true power of professional networking.
Related Content
-
Stock Market Today: Stocks Rally Despite Rising Geopolitical TensionThe main indexes were mixed on Tuesday but closed well off their lows after an early flight to safety.
-
What's at Stake for Alphabet as DOJ Eyes Google's ChromeAlphabet is higher Tuesday even as antitrust officials at the DOJ support forcing Google to sell its popular web browser. Here's what you need to know.
-
Six Ways to Optimize Your Charitable Giving Before Year-EndAs 2024 winds down, right now is the time to look at how you plan to handle your charitable giving. The sooner you start, the more tax-efficient you can be.
-
How Preferred Stocks Can Boost Your Retirement PortfolioHigher yields, priority on dividend payments and the potential for capital appreciation are just three reasons to consider investing in preferred stocks.
-
Structured Settlement Annuity vs Lump-Sum Payout: Which Is Better?As the use of structured settlement annuities grows, it can be tough to decide whether to take the lump sum to invest or opt instead for guaranteed payments.
-
What to Do as Soon as Your Divorce Is FinalDon't delay — getting these tasks accomplished as soon as possible can help you avoid costly consequences.
-
Many Older Adults Lack Financial Security: What Can We Do?Poor financial literacy and a lack of foresight have led to this troubling reality. It's going to take tax policy changes, education and more to address it.
-
Winning Investment Strategy: Be the Tortoise AND the HareConsider treating investing like it's both a marathon and a sprint by taking advantage of the powers of time (the tortoise) and compounding (the hare).
-
How to Fight Inflation's Hidden Threat to Your SavingsIf higher prices are putting your savings goals on hold, you're in danger of financial erosion. Fortunately, several strategies can help stop the spread.
-
10 Inefficiencies I Look for on Rich Retirees' Tax ReturnsYour tax return could hold clues to several missed opportunities and important gaps in your retirement planning.
