We all agree that businesses cannot thrive in a world of poverty inequality and environmental
stress. Are you a purpose-driven for-profit company wanting to contribute towards sustainable
development goals and unlock the business opportunities that come with them? In light
of the current crisis sustainable business growth will demand increased stakeholder engagement and
innovative solutions to reduce any negative impact on the communities in which they work.
How can you best incorporate these actionable insights into your decision-making? Impact
Clouds innovative technology solutions allow you to measure your reputation risk by combining a
comprehensive impact strategy builder, complete data management solutions from collection to
aggregation to analysis and stakeholder reporting into one single platform. How? Step one: Build a
business strategy that combines financial returns with the environmental and social impact goals
based on built-in global standards like GRI, CDP, SDG and guided by the five dimensions of impact
management project. Step 2: Collect feedback from your stakeholders for continuous learning
to make informed strategic decisions about your business's growth. A frozen meal business can
develop new products and increase sales upon learning that consumer interest is shifting
towards healthier plant-based food options. A tech firm can make appropriate workplace
changes and improve productivity opponent gauging with employees with concerns over gender and race
equality. Impact Cloud enables you to learn from your stakeholders and capitalize on every business
opportunity. Step 3: Share your impact with the world and improve your bottom line people,
planet and profit. Impact Cloud provides a high value solution at a low cost with a short learning
curve. It is powerful and flexible enough to manage all of your organization's projects,
partners, investments and stakeholder data in one place so you can grow with shared
value. Here's an example you're tasked with incorporating shared value into the future
growth of an organization working on impact employment for disadvantaged and vulnerable
groups. Here's how we would approach it. First, define a comprehensive corporate strategy that
is intentional about your goals and all the potential effects of your activities. There
are many broad guidelines available to get you started like the future fit business framework or
be labs SDG action analytics. These tools allow you to align corporate goals with sustainable
development goals and easily assess the current stage of your desired impact. You can also use
the impact management project to generate an impact score that takes into account both
positive and negative effects of your company's activities. Second, based on your assessment work
with corporate governance to put a strategy in place to define key performance indicators
around employee engagement, Community Development and environmental sustainability. In our example,
your strategy and metrics may focus on these five areas, targeted groups and hiring practices,
employment practices, renumeration and benefits, training and development and family and community
development. While impact employment metrics can be a great tool for communicating the
organization's positive impact on its employees and the local community the outside stakeholders,
its importance as an internal management tool should not be overlooked. Tracking key metrics
like employee turnover, job satisfaction rates and associated wages can provide valuable information
for decision making around hiring and workforce composition. This greatly supports the case for
impact employment as a practice that benefits both the local community and the company itself.
Once we've identified our key metrics we have to define the key stakeholder groups and data
sources associated with each of them. Oftentimes the company may already have pertinent data in
different IT systems. However, certain goals like family and community development may require
you to identify external stakeholders such as charitable organizations and volunteers that will
require a supplementary surveys and additional data collection. The purpose of measuring these
practices is to ensure that corporates have a clear benchmark on each of their core business
practices. If certain negative risks or impacts are found businesses need to put together a
systematic plan from measure impact and improving outcomes over time. Third, define a baseline and
targets to achieve within your desired outcomes on a yearly or periodical basis. We highly recommend
this additional step as it gives companies a scorecard from which they can quickly review
progress and make efficient adjustments to strategy based on visible gaps between
their baselines and their realised outcomes. In conclusion, SoPact's Impact Cloud streamlines the
entire process of building an impact strategy to measure impact evidence and risk you can define
your sources of data and collection channels for real-time accurate and actionable results.
Systematic data can be collected through online or offline surveys from any of your selected target
groups so you can maximize the value of your information and most importantly Impact Cloud
enables you to efficiently communicate results through infinitely customisable impact scorecards
and dashboards whether you decide to define targets and baselines or not. So join us in
a new way of doing business and start learning more about your organisation's impact today.