Social Capital for Better Performance

In my last blog, I mentioned that we shall discuss how to measure social capital and tips and tricks for improving the social capital of an organization. Let me start by mentioning that when it comes to dealing with humans, nothing can be written in stone. Every organization and its members are unique and, therefore, all that we discuss needs to be changed in alignment with the context.?

Coming back to monitoring social capital, we may want to break it down into different aspects. I am also trying to cite a few instances for a better explanation of the concepts.?

1) Teamwork: Outcomes must be judged collectively with less importance given to individual charisma. At an organizational level, this may be monitored by including different members in project teams, rather than repeating the same combination. While there might be performance dips initially, in long term, this may be more beneficial typically in countering attrition and bringing in innovations.

2) Mutual Trust: The environment should nurture cohesion and the priorities of the organization should be put above individual aspirations. Abrupt changes in leadership in high-visibility projects may be the best way to nurture mutual trust. How easily the leader hands over the responsibility showcases the level of trust, while the reciprocating acknowledgment of the contributions of the former leader builds the foundation for the future.

3) Collaboration: Teams need to collaborate and remain creative. Team members need to support each other by sharing workloads and giving advice to others, even if it is not directly beneficial to the advisor. This happens when the members have a social connection with each other. During the pandemic, we have learned that when times are hard, colleagues stand for each other even in personal lives. After all, we spend a substantial part of our day interacting at the workplace.

4) Diversity: A positive work environment is an office where employees make each other laugh and enjoy working, rather than thinking of it as a task. Employees are more likely to stay in a company where they have friends at work. Gone are the days when sudden bursts of fun and frolic were taken as signs of insubordination. These breaks are rejuvenating and increase productivity.

5) Communication: None of the above will be possible without an environment of open and transparent communication. An organization must create opportunities for team members to engage in casual conversations, about work or personal/social life. But we also need to be respectful of the fact that not everyone wants to share their secrets with all. I have seen many managers engaging in coercive tactics, taking open communication as a task rather than in spirit. Shy and socially introverted members can also be great performers.

To monitor the above points, we need to implement a system that captures activities at a granular level, while creating an environment where employees do not hesitate to capture breaks or water cooler talks. It is easier said than done, as we have always lived in a culture of serious monitoring activities and a casual approach toward work has always been looked down upon. If we reprimand those who want to smile, even when executing serious projects, it will take a long time to build the social capital we have been discussing.

The ultimate loss is of the organization.