Where Relationship Capital is the value of all of you relationships, Relationship Security is a measure of how secure that capital is. Just like financial capital, having it is one thing, keeping it is another!
Secure your relationships like you do your cash
With financial capital (cash) you’re keen to preserve and grow it so your investment strategy will involve balancing reward and risk. It’s the same with Relationship Capital, you need strong relationships with the right people (growth/reward) and multiple touch points so you are less vulnerable to staff turnover in either organization (risk mitigation). And just as you don’t want to invest cash in the wrong place, you want to avoid investing time in the wrong people.
Relationship Security takes account of a number of factors including the number of people you know in an organization, their individual power and influence, the number of people in your organization that have a relationship with them and the strength of those relationships. Relationship Security is indicated by a number between 0 and 100. A good score is typically 70 or above, however that is a function of parameters that you define. In any event, absolute measures are not that critical as the objective of measurement is not accuracy but improvement.
Early warning of threats and opportunities
Relationship Security acts as an early warning system. For example, in sales it becomes harder to do business if relationships deteriorate, whatever the reasons e.g. trust has diminished and/or a new buyer on the scene and/or a problem with a previously healthy relationship. Traditionally, we rely upon lag indicators (lost sales) to become aware of these issues. Relationship Security is a lead indicator; by warning you that relationships are at risk, you can intervene early and in the right way to address issues before you lose sales.
Apart from identifying threats, Relationship Security is a lead indicator of new opportunities. You can readily see when the planets align; for example, as a result of people you do have a relationship with moving to organizations you don’t have a relationship with.