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Social capital is commonly viewed as a byproduct of an individual’s networks and personal relationships. Leveraging an individual’s social capital can frequently open doors to social connections and educational and career opportunities (entry and advancement through educational pathways, entry and advancement through careers). Social and economic mobility throughout an individual’s lifetime can especially be aided by social capital, since many individuals change jobs more than ten times, often changing entire fields.
Those looking to use and enhance their social capital for job-getting are encouraged in the literature to attend events to make new connections (e.g., by attending industry-specific conventions, job fairs, and business-hosted social events), develop skills that help them connect with others, join professional organizations, use social media, volunteer, ask for referrals, and follow-up for leads after conversations.
There are generally three types of social capital that are tied to how the networks of individuals are developed:
Knowing about different types of social capital may encourage individuals to participate in multiple networking development efforts—one group, multiple groups, and groups that span a variety of socioeconomic and demographic groups. The many resulting networks can increase an individual’s social capital.
Advances in technology have resulted in growing the number and types of networking connections. These become an essential part of an individual’s social capital.
The Harvard Project on Workforce, in partnership with the National Fund for Workforce Solutions has reported five core drivers of career navigation success: (1) information accuracy and access, (2) skills and credentials, (3) social capital, (4) wraparound resources and supports, and (5) social structures and ecosystems.
The report notes several ways networking is important in career navigation (page 19):
Leveraging an individual’s social capital can open doors to educational and career opportunities throughout an individual's lifetime. Social capital is an especially important asset in a rapidly changing education and employment marketplace.
Chetty, Raj, et al. "Social capital I: measurement and associations with economic mobility." Nature, 608, no. 7921, 2022, pp. 108-121.
Harvard Project on Workforce. (November (2023). Unlocking Economic Prosperity: Career Navigation in a Time of Rapid Change
Kenton, W. (November 27, 2022). What Is Social Capital? Definition, Types, and Examples (investopedia.com)
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