There are some interesting mega-trends that business leaders must take into account in developing their strategies and in their execution.
Talent is everywhere. As organizations shift to networks, transcending workplaces, success will be driven by how well they can attract the most talented, those who can choose where, how, and why they work. Real-time translation software will enable true multi-cultural teams. Wealth will flow to the talented, wherever they are.
ORGANIZATIONS TO NETWORKS
By the end of this decade close to half the workforce will be working independently, often across national boundaries. Companies will function on social networks and gaming platforms, professionals will work for many clients, and many of today’s companies will be supplanted by networks of experts.
Emerging measures of reputation will shape business and society, providing increasingly accurate views of trustworthiness and credibility. They will enable far more efficient business, make dating easier, help to filter information overload, and allow no space for the dodgy to hide.
The 2002 book Living Networks described how the rise of a hyper-connected world is literally bringing to life the networks that connect us. Soon a profusion of billions of richly connected devices will together manifest behaviors beyond all expectations, evolving themselves and seeking beauty.
WikiLeaks moving into the crosshairs marks the point when society becomes transparent. As individuals, we are already scrutinized by marketers who know us better than we do. Corporations succeed governments in their fear of inner workings being unmasked. Many rail and flail but there is no going back.
For businesses to survive and in this hyper-connected world, you need to create a culture of employees who can interact with customers, and other stakeholders such as partners and suppliers in a “trustable” manner. Don Peppers, Founder of Peppers & Rogers a leading consulting firm coined the term from his new book “Extreme Trust”.
Being Trustable goes beyond just being trustworthy. Many business leaders and businesses feel their business processes keep their promises to the customer, but their interactions lack the Golden Rule principle.
Many businesses seem to make money when the customer does not have the knowledge, skill, or understanding of how to use your service or product. Going forward a business must be proactive in looking out for their customers’ interests.
The technology and socially empowered customers will talk about your products and services. You can operationalize your trustability and earn Relationship Capital (RC) through:
- Customer Experience
- Employee Empowerment
- Employee Recognition
Accounting for your Relationship Capital (RC)
Relationship Capital (RC) is an open standard that measures the quality of a social interaction. There are two ways to earn Relationship Capital (RC)
- Fulfilling a Commitment that you make
- Perception Poll Response
We now have an open standard that people can provide their inputs to as well as a process by which the quality of your social relationships can be captured as either credits or debits into your RC account. It is important in this hyper-connected and competitive business world that we account for our earned Relationship Capital (RC) or Trustability in order to attract clients, employees, and partners.