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Supercharging Your Social Capital by Dr. Derek Ambrose, Australian Reinsurance Pool Corporation
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Presented byDoctor Derek Ambrose
FCPA, FGIA, FTIA, FCIS, FIPA, MAHRI
WE ARE GETTING CLOSE TO THE ANSWER!!!
There are a lot of theories around on Social Capital.
The Social Capital concept is not a new idea, and over the past century or so has been used to explain why democracy works better superior financial returns
firm growth
increased value
enhanced outcomes....
We need to maximise social capital and employee participation to sustain competitive advantage
The low hanging fruit has all been harvested, and there is only one place to visit for increased productivity, improved quality, additional innovation, and improved competitive advantage.
Now we are compelled to address social capital through necessity!
The reality is that economics is no longer divorced from culture, to the contrary they rely on each other.
The supercharging of Social Capital requires personal investment at all levels
A greater emphasis on information sharing
Greater access to information for everyone
Effective social capital guards against opportunistic behaviour, internally/externally
The cohesiveness of social capital creates trust, changes identity and enhances economic prospects
Collective decision making, combined with other types of capital becomes a quality circle
It is the vital component that attracts prospective employees and retains existing employees
UNDERSTAND that everyone’s PARTICIPATION is required
BECOME THE CHIEF ENERGY OFFICER!
UNDERSTAND that everyone is the FUEL!!!!!!
LISTENING is everyone’s RESPONSIBILITY!!
THE BIG ONE!CONVERT PASSIVE EMPLOYEES TO
ACTIVE EMPLOYEES
Comparisons APS DVA ACMA ACMA Br APS 1 APS 2 APS 3 APS 4
(1796) (246) (122) (34) (38) (61) (133) (187)
Motivation 4.5 4.6 5.3 6.2 4.7 3.7 5.0 5.1
Achievement 4.8 5.0 5.5 6.1 4.7 3.7 4.9 5.2
Stress 4.9 5.1 5.6 6.3 4.5 4.3 4.3 4.6
Satisfaction with leaders 5.1 5.2 5.8 6.2 4.4 3.4 4.6 5.3
Commitment 4.3 4.3 4.5 6.4 5.0 4.6 5.3 5.6
Self Confidence/Self Esteem - - - - 4.7 4.2 4.7 5.1
0
1
2
3
4
5
6
7
APS DVA ACMA ACMABr APS1 APS 2 APS3 APS4
Motivation
Achievement
Stress
Satisfaction with Leaders
Commitment
Self Confidence/Esteem
1= Strongly disagree, 2= Disagree, 3= Slightly disagree, 4= Neither disagree nor
agree, 5= Slightly Agree, 6= Agree, 7= Strongly Agree
The development and improvement of Social Capital requires personal investment at all levels
Conscious oversight of the “Social Investment”
Converted passive employees to active participative employees!
Understood that there is a cost to social capital, which needs to be reduced and capitalised on!!
It’s not about ME, and it never was!
Changed the language
Changed the behaviour and increased the integrity of everyone
Measured the social behavioural inputs and outcomes
Attracts
Prospective
Employees
Retains
Existing
Employees
Converts
passive
employees to
active
Must be practiced daily
What you do (or don’t do) in practice you will do in performance
It’s your responsibility to initiate and make it happen
Just do it!!!
Supercharged
Team
Approachable
& Accessible
Sincerity
Honest and
Consistent
Integrity and
behavioural
Integrity
Trust and
Absolute Trust
Show Genuine
Concern
365 365
Everyone is actively involved and participating
Skills/capacity are reorganised and developed
Investment is assigned to everyone
Leaders understand what it is that limits employees
Leaders know to stand in the middle and watch the unison
Knowing how to find the value in the workplace for each individual
Successful employees can smell the difference and crave it!!
Employees go beyond the requirements on a regular basis
Both leaders and employees actively co create solutions
Your place is a place where people want to work and stay!!
EVERYONE HAS PASSION!!
And fence sitters are a distant Memory!!!
Do you want to be the first to supercharge your workforce?
Or do you want to be the last?
YOUR CHOICE