Every company has an org chart, describing its hierarchy and reporting structure, but, as many people know, that's not always how business really gets done.
Instead, a sales manager may have lunch frequently with an executive assistant, or a CFO could go bowling weekly with account managers. Those social interactions, based on friendship and similar interests, have a ripple effect across an organization, and influence how projects are tackled.
For entrepreneur Vikas Narula, it's these informal social networks that are not only fascinating, but also crucial for understanding how businesses run.
To tap into the power of these relationships, he's created
Keyhubs, a company that uses software and services to uncover social dynamics and delve into the self-organizing nature of groups. Keyhubs consultants first talk with employees at a client site, and then design custom surveys that are tailored to the organization and ask specific questions about how departments are working.
Narula believes that with this information, companies are in a better position to boost collaboration, grow talent, and leverage key influencers to help drive change.
"Many times, an executive's perception of who's critical is different than reality," says Narula. "My own experience in the corporate world was filled with examples of management making personnel decisions that didn't make any sense. They'd promote someone even though someone else was way more qualified. So, when I learned about this concept of informal networks, I wanted to find a way to apply it."
Narula searched for a tool that could help map these networks, but found only academic and complicated programs. He worked with one of his college classmates to launch Keyhubs as a side project, initially, and then as a full-time endeavor in 2009.
Since then, several Fortune 500 companies have chosen Keyhubs to provide insight into their organizations. Narula anticipates robust growth ahead, as more companies recognize the value of internal social networks. He says, "We're in the business of helping companies to manage in a new and better way, and to make better decisions. As long as we keep providing that, growth will follow."
Source: Vikas Narula, Keyhubs
Writer: Elizabeth Millard