3 Reasons Why Social Capital Should Be the Number 1 Competency You are Developing

If you missed us last week, check out our first post on social capital.

For those of you who want to keep moving along with this post, know that social capital

“…refers to the collective value of all “social networks” [who people know] and the inclinations that arise from these networks to do things for each other [“norms of reciprocity”].”

Now, more than ever, you need to be developing social capital to bring your A game to work.  Why?

1. Strong social capital saves you time.As a part of a few HR groups, it is rare for a week to go by where I don’t get an email that says something along the lines of…”we are looking to update our policy on xyz, does anyone have one they could share with us…” or something like, “we are looking at changing our payroll provider, does anyone have feedback on the provider you use and if you would recommend them? Or, “We are thinking about doing an employee engagement survey, what would you recommend?”This doesn’t even begin to capture how much this happens on social networks like groups on LinkedIn that tap you into an even broader range of people with resources and brain power you need, which leads to….
2. Social capital makes you smarter than you really are.You can’t possibly know it all.   Google helps a lot with this.   But, truth be told, there are experts out there on just about anything (all the info out there on Google is from somebody) and when experts are experts, they like to share their expertise.  Don’t you like to share yours?   So to increase your brainpower, find others around you with big brains and learn from them.
3. Social capital can save your marriage (or maybe this is just the combination of #1 & 2 above)….At a conference a few months ago, a woman told a pointed story about working long, hard hours when her husband asked her, “Did your job put a ring on your finger or did I?”  Ouch.  She went on to say that she realized she had to work smarter not harder and did it by harnessing the power and knowledge of the people around her.  She realized with a strong social network, answers were a phone call away instead of hours of endless research away.

How does social capital give you a competitive advantage?