Businesses can have a competitive advantage by tasking Gen Y with building and maintaining company relationships. Generation Y has social capital, the capacity to maintain relationships by staying in touch.
Customers today demand authenticity and transparency in the companies they buy products and services from. Social capital is an important resource that helps businesses meet these new demands. It is essential for creating and maintaining greater trust for longterm relationships and sustainable business in companies and organizations.
What happens if you don't build social capital?
I heard a story recently from a company manager that Facebook was a breach of security and disallowed in his workplace. Although social networking has been available for some time now, many businesses have not integrated it into daily practice. Experts say it is the latest in a line of new technology that changes the business landscape, and that's what social media has done. In the 1970s, the new way of communicating was with computer mainframe, in the 1980s, it was the personal computer and in the 1990s, it was the Internet. Today, it's the social web. If a company disallows social networking it can be stuck at the PC or the Internet stage. That's 20 years ago! Is this where you want your company to be?
How to benefit from Gen Y social capital in your business.
Generation Y has social capital, the capacity to maintain relationships by staying in touch. It is at the top of their list of what is important to them. Websites like Facebook, Twitter, LinkedIn, are environments for building social capital in these times of workplace change and they are where Gen Y meet. Align this Gen Y skill with a meaningful company purpose and you have enthusiasm that gets results.
Here are three 4 steps that will improve social capital in your company.
Step #1. Take a good hard look at your Customer Relationship Management (CRM). You may think that your system is doing fine. It may tend to customer contacts, follow-ups and birthdays via telephone, mailings, and e-mail but no Facebook, Twitter, or LinkedIn. Well, what you really have is a hit and miss, untimely, and expensive system for managing your customer care. You can do better.
Step #2. Explore contemporary ways of improving CRM. Get informed about social networking and why people use it. One third of companies put a ban on Facebook and social networking, requiring Gen Yers work around them with their smart phones. If your management believes that social networking wastes time, then it doesn't know how it saves time. Explore how social networking is faster and cheaper for CRM.
Step #3. Find out what customers and employees are using social media. Go to their personal profiles and learn about them, their business, and the people they are linked to. The more you understand them the more they will trust you. You may find out social networking is changing the way everyone maintains relationships and how important it is for conducting business.
Step #4. Hire Gen Y to manage your social network. A Gen Y employee or leased staff may be all you need to get started. Provide training that will connect social networking to your company purpose and reinforce its importance for staying in business. Set guidelines that fit your company culture and will adjust to change. Gen Yers understand the value of social networking and will probably enjoy making it work for the company.
And, Gen Y love technology more than any of the generations in the workplace.
Bottom Line, the workplace is changing as quickly as technology is changing and Generation Y has a the skills and characteristics that benefit workplace change.
And now, I'd like to invite you to claim your free instant access to my new white paper, "Workplace Frustration: How to Reduce It and Manage Generation Y For An Increase in Company Profits". For a limited time you'll find it free at my slide-up when you visit http://GenerationalDivideCoaching.com.
From Tinker Barnett Generational Gap Coaching
"Connectiong Generations in The Workplace"