We all know people in organisations who just seem to be really well plugged in and good at making things happen. So what is it about them?
Working at an asset management firm some years ago, I met Fiona, an investment director on a fund desk.
It wasn’t her job to connect with people or help them out but she enjoyed it and was good at it. She became known as a person who could help you to move things along.
What is a network node?
Fiona was a network node. An unglamorous term for someone so brilliant and so generous with her time. A network node is, in this case (because there may be other definitions in the world of computer science), an individual who holds many relationships and through whom informal influence and communication can flow.
All organisations have people like this and sadly, particularly in financial services, the value that they bring is not always fully appreciated. Often it is not until they leave an organisation that people notice that it is harder to get things done.
When you lose network nodes from an organisation, you’re not only losing the technical competence they bring, you’re also losing all that connectivity.
Companies which fail to recognise the value and keep hold of their network nodes become less effective. In times when so many of us are hybrid working, these people are more important than ever. Informal engagement becomes critical to building the kinds of relationships that make this mode of working viable for organisations, productive for teams and personally satisfying for individuals.
Match what you know with who you know
All companies benefit from informal human networks. When times are good and growth is fast the networks stretch beyond the formal organisational design until it catches up.
When times are tough and an organisation is contracting, efficient adjustment for lost network nodes is vital to retain internal connectivity and corporate knowledge and invaluable to reach outside of the organisation to find new perspectives to help solve the problems.
On a personal level a network has many benefits to offer. More than half of people still get jobs through network connections. A good network enables you to access expertise and information that you likely otherwise would not have. It can give you a degree of influence, perhaps a profile or reputation in your industry that could benefit your future career.
At Goldcrest Partners we do not believe it is necessarily about attending networking events, which can (let’s be honest) feel a little self-conscious and superficial. Rather maintaining a healthy network is an evergreen social activity for the mutual benefit of all parties. Because, after all, a productive and long-lasting network connection is always a two-way street.
