Build back better relationships at work - The McKinsey Podcast Recap

Podcast: The McKinsey Podcast

Published: 2022-10-20

Duration: 1560

Guests: John Parsons, Brooke Weddle, Angela Sinisterra-Woods, Sebastian Sinisterra-Woods

What Happened

Social capital, defined as the presence of networks and connections within organizations, is crucial for creativity, learning, and career mobility. John Parsons, a McKinsey senior partner, and Brooke Weddle, a partner, note that its decline during the pandemic has left many organizations struggling to maintain connections.

Brooke Weddle explains that social capital involves access, motivation, and ability. She emphasizes that organizations need to be intentional about managing interactions to prevent the formation of exclusive cliques and to ensure inclusivity.

John Parsons describes a survey of US-based companies that found a significant drop in access to social capital. Less than 15% of employees reported network growth during the pandemic, with women and frontline workers particularly affected.

To rebuild social capital, Brooke Weddle suggests organizations should integrate it into performance management systems and promote role modeling by leaders. Building connections isn't limited to social activities but includes genuine workplace interactions.

John Parsons recounts a story where a finance analyst with high social capital helped a company improve performance by spreading positive information through informal networks. This highlights the importance of identifying key influencers within organizations.

Angela and Sebastian Sinisterra-Woods, both McKinsey associate partners, share their experiences of building relationships at work and how their personal lives have been influenced by McKinsey's organizational practices. They maintain a whiteboard system to manage personal tasks, applying workplace skills to their home life.

Key Insights

• Social capital is essential for organizational success, facilitating creativity, learning, and career mobility. Its decline during the pandemic has created challenges for maintaining workplace connections.
• Brooke Weddle identifies three elements of social capital: access, motivation, and ability. She warns of the risks of exclusive cliques forming if interactions are not managed inclusively.
• A McKinsey survey revealed that less than 15% of employees experienced network growth during the pandemic. Women and frontline workers reported significantly lower growth compared to senior leaders.
• John Parsons shares an example where a finance analyst with high social capital helped a company achieve performance improvements by leveraging informal networks to spread positive information.