The New Wave In HRTech
How much energy do you have at the office? Do you feel enlivened and engaged or downhearted and disengaged? One way or the other, the explanation could be your coworkers. They are impacting you with their energy, positive or negative. Today, more and more people are working virtually and much of this energy has translated to these team relationships. We gain energy through our interactions with people. Something we call “relationship capital energy” — and it affects our performance at work.
We have gone from a connected to interconnected to a morally interdependent world of business. We are rising and falling together more than ever before. Together we can have it all because everyone matters. But we need to capture and build this relationship capital energy more than ever.
- Because seven out of ten employees believe the company they work for does not care about them.
- Because people should not be considered just human capital to a company’s financial outcome.
- Because people want to be led, not managed.
- Because everybody should have the opportunity to utilize his or her gifts and capabilities toward a collective vision.
- Because everyone deserves the chance to feel like he or she are fulfilling their purpose and making a difference at work every day.
Moving Towards A Do The Right Thing Culture
Small businesses with high levels of Relationship Capital “RC)” trust tend to produce high-quality products and services at less cost because they can attract and retain highly motivated employees. These employees are more likely to enjoy their work, take the time to do their jobs more effectively. They are decision-makers; risk-takers; innovators; embrace the organization’s vision, mission, and values; and they display the cultural behavior of the organization such as supporting and committing to a business requesting assistance, as a result, leaders are free to perform other duties.
- Distributed Integrity: the perceived objectivity of outcomes within the organization.
- Technical Integrity: the perceived objectivity in the process of reaching decisions about distributed outcomes.
- Social Integrity: the perceived objectivity of interpersonal interactions and its handling in the organization.
Business leaders have already started implementing high trust strategies and transforming their organizational cultures through sustainable principles/values, social technologies, and transparent business processes of to earn open standards of Relationship Capital “RC”. The behavior wars have started. Are you going to lead this transformation or react to the competitive pressures of firms that practice proactive trustworthiness? An opportunity to Do-the-Right-Things has never been so compelling or profitable in this transparent world.
The Low Cost of High Relationship Capital “RC” Energy
Building a proactively trustworthy business will increase a company’s profitability and organizational sustainability. There is a significant amount proof showing a direct link between trustworthiness and superior financial performance. Over the last ten years, a series of qualitative and quantitative studies have created a strong case for business leaders to put building trustworthiness as one of their strategic priorities.
In a Harvard Business School working paper from July 2013 called The Impact of Corporate Sustainability on Organizational Processes and Performance, Robert G. Eccles, Ioannis Ioannou, and George Serafeim provide verification that high sustainability companies (those integrating both environmental and social issues) significantly outperform their counterparts over the long-term, both in terms of stock market as well as accounting performance.
According to Fortune’s article “100 Best Companies to Work For”, based on Great Place to Work Employee Surveys, best companies experience as much as 50% less turnover and Great Workplaces perform more than 2X better than the general market (Source Russell Investment Group)
Forbes and GMI Ratings have produced the “Most Trustworthy Companies” list for the past six years. They examine over 8,000 firms traded on U.S. stock exchanges using forensic accounting measures. The conclusions they draw are:
- “… The cost of capital of the most trustworthy companies is lower …”
- “… Outperform their peers over the long run …”
- “…Their risk of negative events is minimized
Does Your Boss Give Off Good Energy? Answer These 5 Questions
If you have an energizing boss, it is likely that you are feeling engaged at work. Focusing on relationship capital energy between individuals both small business owners and solopreneurs, we found that the relationship capital of a leader grows one’s motivation at work, attention to tasks, and commitment to work responsibilities. This enables higher work performance.
PE-ER is an on-demand platform for requesting and making commitments. It leverages gamification techniques to recognize, reward, and appreciate peers. Building trust and credibility by earning Relationship Capital or “RC” is critical to achieving the benefits and reducing the difficulties with in-person teams or virtual teams. Whether you are a large enterprise, small business, or solopreneur, building a track-record of verifiable performance with your teammates, customers, and partners is the source of distinction and competitive advantage.
The best way to articulate the power of combining RC measurement and HRTech is the following statement, “How we connect, collaborate, engender trust, deepen loyalty, keep promises, and earn relationship capital is now the source of long-term distinction”. Relationship Capital is the energy force for significance that makes a difference to individual motivation and business performance. The PeerSaaS platform is the new wave in HRTech that will help you build, manage, and utilize this asset for distinction.
What do you think? Share your thoughts.
- Originally Published on September 22nd, 2016 on Pulse