e-book (R)evolution of Work: Social capital in organizations

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It has been claimed that traditional, collectivistic, God-centered Christianity is being replaced by individualistic spirituality. Because spirituality is individualistic is has no collective component and hence there should be no relationship between being spiritual and involvement in voluntary organizations. In that case the religious change sweeping across Denmark could mean a decline in social capital.

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There is no spiritual revolution but rather a religious evolution. Even if spirituality does not have a collective component it is nonetheless a good predictor of involvement in voluntary organizations. Hence the religious change seen in Denmark does not impact the production of social capital. This longevity dividend enables companies to both address a pressing societal issue and tap into a proven, committed, and diverse set of workers.

However, doing this requires innovative practices and policies to support extended careers, as well as collaboration between business leaders and workers, to tackle shared challenges such as age bias and pension shortfalls. Engagement with other stakeholders on topics such as diversity, gender pay equity, income inequality, immigration, and climate change can lift financial performance and brand value, while failure to engage can destroy reputation and alienate key audiences.

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Many organizations are still catching up: As the line between work and life blurs further, employees are demanding that organizations expand their benefits offerings to include a wide range of programs for physical, mental, financial, and spiritual health. In response, employers are investing in well-being programs as both a societal responsibility and a talent strategy.

Organizations are looking to capitalize on the benefits of a surge of new AI-based software, robotics, workplace connectivity tools, and people data applications, while also mitigating potential downsides and unforeseen effects. These tools and investments can help to redesign work architecture, lift productivity, and enhance people efforts, but organizations must also pay attention to and respect their impacts on the workforce as a whole. The influx of AI, robotics, and automation into the workplace has dramatically accelerated in the last year, transforming in-demand roles and skills inside and outside organizations.

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Survey respondents predict tremendous future demand for skills such as complex problem-solving 63 percent , cognitive abilities 55 percent , and social skills 52 percent. To be able to maximize the potential value of these technologies today and minimize the potential adverse impacts on the workforce tomorrow, organizations must put humans in the loop—reconstructing work, retraining people, and rearranging the organization. New communications tools are rapidly entering the workplace. But as these tools migrate from personal life to the workplace, organizations must apply their expertise in team management, goal-setting, and employee development to ensure that they actually improve organizational, team, and individual performance and promote the necessary collaboration to truly become a social enterprise.

Like the outside world, organizations are becoming hyper-connected; can they also become hyper-productive? The rapid increase in data availability and the advent of powerful people analytics tools have generated rich opportunities for HR and organizations—but they are now also generating a variety of potential risks. While more than half of our survey respondents are actively managing the risk of employee perceptions of personal data use, and a similar proportion is managing the risk of legal liability, only a quarter are managing the impact on their consumer brand.

Organizations face a tipping point: Develop a set of well-defined policies, security safeguards, transparency measures, and ongoing communication around the use of people data, or risk employee, customer, and societal backlash. The Global Human Capital Trends report sounds a wake-up call for organizations. The rise of the social enterprise requires a determined focus on building social capital by engaging with diverse stakeholders, accounting for external trends, creating a sense of mission and purpose throughout the organization, and devising strategies that manage new societal expectations.

Introduction: The rise of the social enterprise

In this new era, human capital is inextricably tied to social capital. This reality demands a fundamental pivot in how organizations do business today—and how they prepare for the human capital challenges of the future. She is based in London.

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She is based in New York City. Deloitte , The business case for inclusive growth: Arriving now , Deloitte University Press, February 28, Deloitte, The Deloitte Millennial Survey: David Brown et al. The naked organization , Deloitte Insights, February 27, Edelman, Edelman Trust Barometer: Global Report , , p. Deloitte, The Fourth Industrial Revolution is here—are you ready?

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[Special Report] Fourth Industrial Revolution to Boost Human Capital

An article titled Introduction: The rise of the social enterprise already exists in the bookmark library. Log in to add and see bookmarks. Still not a member? Article 11 minute read March 28, Dimple Agarwal United Kingdom. Josh Bersin United States. Jeff Schwartz United States. Erica Volini United States. The growing importance of social capital The last decade: Importance and respondent readiness Respondents generally agree that, while each of the following trends is important, most organizations are not yet ready to meet expectations.

Acknowledgements Cover image by: Endnotes Deloitte , The business case for inclusive growth: View in article Ibid. View in article David Brown et al.

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Book chapter: The spiritual revolution and social capital in Denmark – Københavns Universitet

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