While the term networking can refer to any set of interconnected entities, in the business environment it refers to the creation of relationships between individuals for the purposes of attaining personal or business objectives.
Social networking can help an individual gain an introduction to potential future managers, thereby increasing the likelihood of being offered an opportunity to work in that manager's operating area.
"Skills networking" is a second type of network, where the individual builds a relationship with others that have specialized skills or knowledge. Employees that are adept at building such networks are valuable not only for what they personally know, but also who they know in an organization. Their personal network is of value to others too.
Networking can be very effective when seeking a job or looking to switch jobs. Research conducted by the U.S. Bureau of Labor Statistics indicated that 70% of jobs are found using personal networks. Conversely, the lack of networking may cause the professional to ultimately fall short of their career goals.