Social capital is comprised of mutual benefits (economic, relational, emotional, political, spiritual, etc.) derived by a group of like-minded people pursuing a common cause. The key driver is relationships with the vision to promote the common good.
Social capital demands mutual trust, common beliefs, and shared rules. In one sense, it’s all the things economic capital can’t buy. Social capital manifests itself in the form of safe communities, good race relations, happy employees, an unpolluted environment, fine art, great music, patriotism, unified families, bipartisan politics, and a genuine love for our fellow human beings.
Social capital is created when we obey the second part of the Great Commandment, “Love your neighbor as yourself.” This then begs the next great capital allocation question. How do we love our team members as we love ourselves? Or in other words, how do we promote the common good in our businesses?
How do we help our employees become all God wants them to become?
Do we truly offer the best benefits and pay?
Are we a place where relationships reign supreme?
Are we the best place to work?
Will our employees wholeheartedly agree that we live up to the values and virtues we espouse?
Are we willing to spend the economic capital necessary to create social capital?
Social capital creation is essential if we are to live out the Great Commandment and love our neighbors (team members) as we love ourselves.