Social Impact Measurement is an exciting approach that enables you to measure all the good your organisation does. It adds value across the whole organisation: delivering a clearer Vision, continuous Improvement and increasing your Growth prospects.
Vision & Mission
Put simply, Social Impact is what your organisation does. Measuring it helps to articulate your vision and mission to staff, beneficiaries, funders and other stakeholders. If your organisation empowers people with disabilities, then measuring your impact will tell the world just how many people you have empowered and what the impact of that has been – jobs, income, well-being, or whatever else you choose to measure.
Social Impact Measurement improves organisations by highlighting all the things they are doing well, and those where they could do better. Continuous Social Impact Monitoring fits neatly into continuous improvement. Social Impact Measurement helps organisations to:
- Boost their efficiency by highlighting where they make the biggest impact to better focus their efforts;
- Develop better products and services by helping them to understand how they help their beneficiaries and achieve a positive social impact, and where they can develop their impact further;
- Expose new opportunities, by revealing areas they may not have realised they were having a positive social impact; and
- Develop (and motivate) staff by better targeting recruitment and training.
Social Impact Measurement is an important tool for growth. Organisations branching out, growing in size or scope, or exploring new opportunities, can harness Social Impact Measurement to help them achieve even greater impact through a number of channels:
- Marketing – Social Impact Measurement can help generate performance figures and marketing material (e.g. through customer feedback) which can demystify an organisations work for the public and generate greater interest in their mission;
- Funding/commissioning – Social Impact performance figures are helpful when applying for funding or a competitive tender; they provide the essential evidence that you deliver what you say you will. With the Social Value Act now in place, providing evidence of your social impact can give you a competitive advantage;
- Stakeholders/Partners – By measuring things like the impact various activities have on each other, Social Impact Measurement helps an organisation understand their relationships with partners and stakeholders, as well as their market. Social Impact Measurement also generates material that can inform stakeholders about and organisations values and mission.
We hope that this is a helpful way to think about Social Impact Measurement and all of the great work it can do for any organisation hoping to do good.
Just starting out on your Social Impact Measurement journey? Get in touch to find out how we can help you put in place a Social Impact Measurement framework that delivers real benefits. Call us now on 020 7193 4770 to get started.