The leap from formal education to the real world can be challenging in more ways than you think. You might have come across social studies, even economic sociology, and you might have some big ideas about how you can contribute to human development. Then you arrive at your first job and you begin to wonder how you can incorporate ideas of social responsibility into a role that already has several challenges. However, first things first, congratulations on deciding to be an agent of positive social change.

‘Social capitalism’ is cited as a new type of capitalism that focuses on more than financial and monetary outcomes. It emphasises the importance of looking beyond profits to examine how a company is contributing to positive social outcomes. While the idea itself is noble, no practical examples of how this can be implemented are provided. Truth be told, the renowned sociologist Max Weber’s 1904 publication, The Protestant Ethic and the Spirit of Capitalism talked about the correlation between modern economic growth and putting individual interest aside for the collective good. You might have come across this book during your studies and you might wonder how to ensure the integration of cultural and social institutions for long-term growth. More recently, the narrative has changed to include corporate social responsibility (CSR), ethical business practices and sustainable development. Businesses were encouraged to look at ways to mitigate adverse social and environmental impacts and proactively look for positive impact creation. We now have mainstreamed ways to reconcile social and financial returns and work in a way that supports the double bottom line.

But how can you incorporate social capitalism into your daily operations at work? Here are some practical tips:

Promote diversity, equity and inclusion

Most workplaces have a policy covering non-discrimination, equal opportunity, diversity, equity and inclusion. It’s important, therefore, not to be afraid to speak up when you see any unfair treatment of people, direct or indirect discrimination or lack of diversity. I remember the days when it was rare for fresh graduates to speak up about such issues, but workplace culture has changed a lot since then. Nowadays, it is much more accepted to point out shortcomings on diversity and to promote ways of making the workplace a more inclusive place.

Be a champion of employee wellbeing

Employee wellbeing is a hot topic, especially since the pandemic highlighted how adversity disproportionately affects people on short-term contracts, agency workers (mainly administrative staff) who are employed by agencies and other contractors. While employee status provides the benefits of medical coverage and paid time off, for example, these might not be available for non-employee workers. I always recommend that companies update their HR policies to extend certain benefits to short-term and agency workers, review procurement practices and improve due diligence on contractors, as well as their employment terms and conditions. This ensures that no one works under employment conditions that don’t meet a company’s corporate labour standards. Fair wages, transparency on grades and promotions, meanwhile, are just a couple of ideas that can lead to better office morale. Flexibility for part-time work, working from home and additional flexibility for those returning from parental leave will also go a long way.

Ethical leadership and good governance

Step away from the workplace and look at how you conduct yourself. While you might not enter a leadership role immediately, you are on the path to be a future leader. Early-career habits, mentors and role models have a significant impact on how you define your values and principles in terms of social impact and ethics. Good governance, fairness, transparency and ethical business conduct are all very important because such factors help define how much a company invests in its employees and communities. Governance covers issues under the previous point to a certain extent, especially when you think about CEO salaries compared to those of other employees. What you can do, even as a junior professional, is advocate for improved governance practices, more transparency in disclosures and an improvement in a company’s codes of ethics and conduct.

Embrace CSR

After improving your own conduct and corporate policies, you can proceed to looking at external stakeholders. You will most likely end up in a company that has a CSR programme and/or one that supports charities or philanthropic organisations. It should be possible to get involved with the team that is managing these programmes and contribute towards maximising their impact. You might also suggest new opportunities to expand or recalibrate existing efforts and cover topics that seem more relevant to your stakeholders. You will most likely have paid days off to volunteer and give back to your community. As a future leader, it is imperative that you engage with stakeholders and understand their concerns, issues and feedback. Volunteering for a local charity to support a cause close to your heart will also give you a fresh perspective and bring benefits to the community.