How do you measure social impact? That was the question posed to Steve Allman by NatWest bank, which recently wrote about measuring social impact on Content Live, an initiative which shares expert insights which enable people to make better informed business decisions.
It’s a hot topic for a number of our social enterprise and charity clients, so we’re delighted to contribute – and we’re doubly delighted to see social impact being addressed by a large mainstream bank such as NatWest. We’ve pasted a snippet from the full article below, but if you’re looking for some tips to measure social impact for your charity or social enterprise, you can read the full article here.
“It’s also important to make sure the chosen approach is the best fit for the organisation’s needs. “The key to successful social-impact measurement is keeping it simple,” says Steve Allman, a consultant focusing on charities and social enterprises. Allman says he has worked with small social enterprises that have developed their own framework for social-impact measurement with a limited budget.
“In most cases, this approach has worked well for three reasons: it’s designed with their specific social-impact ambitions in mind, the people who built it are the ones that have to measure it and, finally, they’ve involved clients and other key stakeholders in its design so they can feel confident it will do the job.”