A leader’s guide to strengthening workplace connections

Harmony Internal - McKinsey

The ties that bind ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Edited by Rama Ramaswami
  Senior Editor, New York

As remote work takes root in many organizations, the workplace camaraderie and connections that office workers previously took for granted are declining fast—and may be a factor in the discontent that leads to employee attrition. To counter this, business leaders should consider managing social capital with the same intentionality and precision that they bring to handling human, financial, and other forms of corporate capital. Based on their survey of more than 5,500 US workers on the state of their networks and connections, McKinsey senior partners John Parsons and Bill Schaninger, along with coauthors Taylor Lauricella and Brook Weddle, suggest that leaders can evaluate an organization’s social capital by examining whether employees have the motivation, access, and ability to build relationships. Leaders can then offer individual coaching and mentorship, as well as initiate organizational network-building activities.

55%

‘I think social capital can be built in a virtual context as well as an in-person context,’ says McKinsey partner Brooke Weddle in this podcast on how to build a better sense of community in a workplace reshaped by the pandemic. In a large-scale survey of US-based companies, “we found that access to social capital has gone way down,” says Weddle. “Specifically, fewer than 15 percent of employees reported that their network had grown.” One way to address this may be to build social capital into performance management systems; for example, sponsorships that help junior employees advance can motivate people to develop relationships. Leaders can highlight the importance of social capital through actions such as checking in with team members on a personal level before starting a meeting. “I think leaders can play a big role in terms of role modeling what it looks like to place importance on the concept of social capital,” Weddle says.

BFF

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:09 - 7 Nov 2022