Is it more valuable to “know your stuff” or be known by the right people? That is a question that continues to be debated. Evidence has shown that while it is extremely helpful to know the right people to secure a position, keeping one requires that you also know what you are talking about.
A recent academic study published in the journal Intelligence found that the popular business adage, “it’s not what you know, it’s who you know” may not be so right, after all. It isn’t enough to know someone important, you must also be able to produce and be a valued asset to a company in order to be successful and sustain employment.
In a twenty-five year study surveyed 12,868 Americans from 1979 through 2004, tracking respondents’ promotions and earnings. Using the Armed Forces Qualifying Test and socio-economic backgrounds to determine intelligence and affluence, researchers determined how those in the survey advanced, and whether their wealth and status played a role in their income and position.
The conclusion gives hope to all of those who have wondered if those in a more disadvantaged socio-economic status can really compete.
“Your future success is up to you,” says Prof. Ganzach, a Tel Aviv University researcher at the Recanati School of Management, and the study’s author. “Your family can help you launch your career and you do get an advantage, but it doesn’t help you progress. And once you start working, you can go wherever your abilities take you,” he said.
See more here: Nepotism vs. Knowledge: The Age-Old Debate Continues with Encouraging Conclusions
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