20 Predictions from The 2020 Workplace:
Prediction 1: Reputation capital will be the top currency in the 2020 workplace. This is the sum total of your personal brand, your expertise, and the breadth, depth, and quality of your social networks.
Companies will increasingly source, recruit and promote new talent based upon their reputation capital. This means looking for employees who not only have wide, deep and high-quality social networks, but also demonstrate a track record of turning these networks into increased business value for the organization and stronger personal brand for themselves.
Already some companies, like Best Buy, are listing reputation capital as a requirement for some positions, such as the senior manager in emerging media marketing. Some of the job requirements – developed via crowdsourcing – included having active accounts and a significant following on sites such as LinkedIn, Facebook, Twitter, MySpace, Plaxo, Ning, delicious, Slideshare, YouTube and PRWeb.
By 2020, hiring companies could very well make specific requirements that prospective employees have experience using these types of sites to further their business agenda.
According to Dr. Robert Cross, professor of management at the University of Virginia, high performers of an organization focus on building quality networks rather than large social networks. They may not know everyone, but the people they know, they know very well, and they invest in these relationships before they’ll actually need them to get their work accomplished.
Companies will increasingly take note of how connected current and prospective employees are in their professional communities, and seek to retain and promote individuals who demonstrate an ability to grow their networks and their reputations and standing in the community. Inside the company, the number of links to your internal company social website, the feedback from hundreds of people rather than the current dozen or so used on 360-degree instruments, and the number of times people link to you, could indicate a leadership score, and set you up for promotion. Look for reputation capital to be a more critical factor in both hiring and promotion decisions.
What’s happened in the last year:
Is reputation capital important to you?
Given the importance of reputation capital through social networking, should employers restrict/monitor social networking by employees?
Does your company rate reputation capital as important? Would they recruit or promote new employees based on their reputation capital?