8 reasons why socializing is important in the world of finance


8 reasons why socializing is important in the world of finance


Socializing in today’s world is important, be it any field! In this article, we take a closer look at why it is so important to socialize in the world of finance!


#1. Maintain old contacts and create new ones!

Socializing, means, winning people around, with etiquettes and mannerism. Right blend of courtesy and professionalism tells a lot about seriousness and dedication to the job. This implies, making better connect, and bonding with people, that matter most to your new venture, or, this can mean continuation of good ties, with your client. Apart from the routine chit-chat, such socializing provides a unique opportunity to update your client and colleagues at an informal level. The light joyous party mood ensures right note is struck between two contacting parties at an informal level. This might later on lead to more useful dialogue at business level.

jankuss / Pixabay

#2. Develop confidence

Practice makes a man perfect and this is surest way to gain confidence. Confidence reflects, both in mood and tone of your actions. You need to overcome and outshine your fears and doubts, learn more about yourself, to gain control over different emotions, which pull you away from confidence. Socializing provides you an opportunity to discuss, and share your views, fears as well as gain perspective to counterviews. You might listen to view outside work on areas such as politics, sports, drinks, new technologies etc which will develop your overall confidence as you will be well versed with wide ranging topics!

Further, you get opportunity to listen to conflicting or contradictory opinion as well as views from someone who might have an authority on a subject which you are not well versed with. This helps you realize your mistakes, and evaluate yourself in different shades of knowledge, to reach to a balanced conclusion. The maturity of thought and behaviour, thus gained, leads to motivation and an improvement, in confidence.


#3. Improve your management level skills

While socializing, you might meet senior colleagues from your office. They might talk about, at high level, what are they looking forward and what key challenges they are facing. While listening, you will develop a high level understanding of business, not just the detailed level understanding that you might be used to while working in your team. Thus, by socializing you will get the overall BIG picture!


#4. Transform your travel experience

If you have to travel to socialize, you hit 2 eyes with one arrow! You will get to meet new people on one hadn.. On the other hand, you can improve your travel related understanding, organize better travelling plans and meet new people.


#5. Improve your employability

Networking is more important in the field of finance just like it is in any other field. The detail of accruals requires vast experience for right interpretation in book of accounts. Similarly, corporate accounting, taxation, forensic accounting and business accounting are vast subjects requiring fair understanding to ensure effective implementation. A network of friends and colleagues who have experience in these areas, working for few yrs in corporate sector is always good to have. Networking ensures diversification in skill for young managers and ensures better employability!


#6. Become more open-minded

With right socializing, receptivity to new global ideas in local perspective happens to you i.e. you realize the impact, that glocalization can have on your routine life. Think Big and think big in your local environment to become more open minded. With socializing you will become more open minded.


#7. Discover a new culture

Discovering new culture is a valuable source of knowledge and ideas. As a finance manager, these small culture ideas and values provide insights into saving and spending habits of a new group of people. This provides an opportunity to establish better  business relationship with other person.


#8. Develop life-long friendships

Socializing is a great opportunity to meet new people, and develop life-long friendships. The rewards of such association is beneficial for everyone. When you keep meeting the same people multiple times in various social events, you become good friends with them. So, the next time they see you, they remember you instantly!


We hope you enjoyed this article. For regular updates from the world of financial markets, subscribe us via email and we will deliver our next article, right in your mailbox!