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What is social capital? (And how top teams use it)

Network Leader
October 25, 2024
6
minute read

What’s the real engine behind high-performing teams? 

One of the key ingredients is social capital — the web of relationships, trust, and collaboration that drives organizations forward. 

During an insightful webinar, Kelly Simmons and Phil Willburn unpacked how the most effective teams harness social capital to work smarter, faster, and more collaboratively, all while overcoming the barriers that commonly hold them back. 

Throughout the session, they explored actionable strategies for leaders to identify and eliminate hidden biases, dissolve silos, and create more resilient and well-connected teams. 

By leveraging data and network insights, organizations can move from disconnected groups to teams that communicate, solve problems, and increase organizational efficiency. 

For teams that are struggling to get aligned or are falling short on collaboration, this webinar provides tools to help unlock their potential. The discussion demonstrated how social capital is not a “nice-to-have” — it’s a strategic advantage that top teams use to deliver better results, faster. 

Curious to learn more? Read on for key takeaways or watch the full webinar here

Building networks for the future

One of the key points Kelly highlighted during the webinar is the tendency for individuals to build networks suited for the past, rather than preparing for the future. 

Many professionals focus on current needs without considering where they, or their teams and projects, need to be in the coming years. Even the most experienced networkers often overlook this forward-thinking approach. 

See the full clip below:

Kelly admitted that even she, a “networking aficionado”, had to reorient her network to support her future endeavors. This insight emphasized the importance of intentionally cultivating relationships that will help not just today but in the long run — whether that’s six months or six years down the road. 

Unlocking opportunities with social capital

As Kelly reflected on her career, she emphasized the powerful role networks have played in unlocking opportunities. From career advancements to personal growth, networks provide more than just job connections.

But, not all networks are created equal. As Phil explained, “Your network is who you know, who knows you, and how these people know each other”. It’s the fabric of relationships that often determines how quickly and effectively you can achieve your goals. 

Kelly expanded on this by discussing how teams can leverage their social capital more effectively. Too often, senior leaders boast about their strong networks, only to discover that their connections are insufficient when it comes to driving real results.

“Your strengths can be your blind spots”, Kelly explained, reminding leaders that networks need to evolve constantly and consistently to meet future challenges. 

Overcoming networking hurdles

One of the most compelling stories Kelly shared was about a leader in a chemical engineering company who struggled to make progress on a critical project because of a disconnect between his team in Spain and key stakeholders in Amsterdam. 

The solution was surprisingly simple: taking time to have casual, face-to-face conversations with people in the office hallways. This small but deliberate networking effort broke down barriers and opened doors for his team. 

“Sometimes it’s not that complicated”, Kelly noted. “It’s about creating bridges, even if it’s uncomfortable”. 

Watch the full clip below:

The example highlights a simple truth: networking isn’t just about expanding your connections. It’s about taking intentional action that enhances collaboration and builds trust across teams. 

Bridging vs bonding: Finding the right balance

Another important theme of the webinar was the balance between bonding ties (internal networks) and bridging ties (external networks). 

Research shows that while bonding within a team enhances collaboration and decision-making, bridging to external contacts brings in fresh ideas and resources. However, teams often fall into the trap of focusing too much on one type of connection. 

As Phil explained, “Teams that are too internally focused often hit roadblocks because they’re not incorporating external perspectives”. 

On the other hand, teams that prioritize external connections without nurturing internal bonds risk losing cohesion and direction. 

The solution? Leaders need to be intentional about balancing both types of ties, ensuring their teams are well-connected both internally and externally to maximize the value of their networks. 

Pro tips for effective networking

In the closing moments of the webinar, Kelly shared a couple of pro tips based on her years of experience working with top teams and execs: 

1. Be genuinely curious about others

Kelly emphasized that the best networkers are those who are truly interested in people. “Curiosity pays dividends”, she said, noting that it’s not just about gathering information but about building meaningful relationships. 

2. Start building relationships early

Networks take time to mature. Even if a connection doesn’t seem immediately useful, nurturing it over time can bring significant benefits in the future. 

3. Tap into your dormant network

One of Kelly’s favorite strategies is reconnecting with people from their past. “I have an 85% success rate when I reach out to dormant contacts”, she revealed, explaining that a thoughtful, well-crafted message can reignite valuable connections. 

Watch all the insights from our recent webinar here

Want to learn how Network Leader can help your teams make the most of their social capital? Reach out today and discover why Google, Accenture, and Walmart rely on our tools, such as Leader Network Diagnostic.

Start a conversation and learn why leading organizations trust us to deliver real results.