When we hear the word “capital”, we think about money and what monetary values, but there is a value way deeper and also essential, and that is the value of having a positive relationship with people in your society.
Social Capital, according to the dictionary, is defined as “the networks of relationships among people who live and work in a particular society, enabling that society to function effectively.”
This, in simpler terms, means how you connect positively with other people to achieve similar goals, the bonds you form with them, and how you relate and connect with them within the same society.
It plays a very essential role in building a healthy society and making the world at large a healthy place to live.
There are so many ways you can bond with people and make the society a better place, while serving as a currency built on trust and mutual support, it also comes in different forms.
Forms of Social Capital
- Bonding Social Capital
This is the type of bond you have with family, and other close relatives and friends, and you share mutual support and respect for each other, and help each other grow at the same time. It provides a sense of belonging and emotional support for you. For example, the tuition gathered by the whole family to send you abroad for a quality education, that is a result of bonds in the family.
- Bridging Social Capital
This type of social capital goes beyond your immediate family or village, it spreads across to ransom people you meet and form a healthy relationship with. This helps interaction between different backgrounds and races grow. Example is, a random person you met on social media might have a huge impact on your life, and vice versa, and that is how a healthy relationship works.
- Linking Social Capital
These are relationships you build with people of varying social status or power, example is the bond you build with your boss, your mentor, lecturer so as to make life easier for you. A scholarship or job recommendation is an example of how it benefits you.
Why Social Capital Matters
The great thing about social capital is that it benefits you in almost every area of life.
Personal Well-Being: Relationships built with people makes it easier for you to have someone to rely on when you are feeling lonely, heartbroken, and sad. It definitely means you have support.
Education: Students with great relationships with their teachers and mates often achieve more than those who do everything alone just because they have a backbone, a support system to fall back on.
Career Growth: Jobs are gotten faster through recommendations than actual qualification these days, and that’s the beauty of having a solid relationship with people in the position to recommend you for jobs and elevate your career.
Society Development: In a society where people have mutual relationships, and respect for each other, they tend to stick together and fight any harmful thing coming their way, thereby reducing crime rate and improving growth of the neighborhood.
Challenges of Social Capital
- Some groups of people “gatekeep” information and opportunities while ignoring outsiders that may also need the opportunities.
- People may manipulate relationships purely for personal gain, thereby damaging trust in the long run.
Social capital is a force that influences the jobs we have, the growth of our businesses, the healthy communities we live in, and even the happiness we experience, genuine relationships grow stronger over time.
