Why measuring social impact is essential for organisations
In meeting our current social, economic, and environmental challenges, measuring social impact has become essential for organisations pursuing positive change in their communities. As such, in this article, I will explore why measuring social impact is essential and how working with GtD can you advance your organisation’s mission for a better future for all.
What is Social Impact?
Social impact refers to the impact that an organisation like yours has on your community’s social, economic, and environmental well-being. GtD’s approach to measuring these impacts is to monitor the changes that occur because of your work and evaluate whether they are achieving their intended goals.
Why is Measuring Social Impact Important?
Accountability and Transparency
Firstly, measuring social impact helps to ensure accountability and transparency. Therefore, by measuring your impact, trustees, board members, and management can assess whether resources are being used effectively and efficiently. Additionally, this information can then be shared with donors, investors, and the public to demonstrate the work’s value and impact.
Continuous Improvement
Secondly, measuring social impact provides valuable insights into “what works” – and what doesn’t. Likewise, evaluation helps identify areas of improvement and can suggest changes to a program to make it more effective. This can be part of a feedback loop that helps organisations learn from their experiences and adapt to changing circumstances.
Evidence-Based Decision Making
Thirdly, measuring social impact provides evidence that can inform decision-making processes. Therefore, by using data to assess the effectiveness of different approaches, organisations can make informed decisions about where to invest resources and how to prioritise their efforts. This evidence-based approach can help to ensure that resources are being used in the most effective way possible.
Empowerment and Engagement
Finally, measuring social impact can empower individuals and communities. Our evaluations often consider the “lived experience” of those who receive services. By involving them in the evaluation of a program, our clients can ensure that their client’s perspectives and needs are being heard and addressed. This engagement can help build trust and support for your organisation’s work.
Conclusion
My GtD colleagues and I believe that measuring social impact is essential for our non-profit clients to realise positive change in their communities. By evaluating the impact of their work, they can ensure accountability and transparency, facilitate continuous improvement, inform evidence-based decision-making, and empower and engage individuals and communities.
Please get in touch with me if you want to learn more about how GtD’s social impact analytics can help your organisation demonstrate its value in society.
