How do you link your social impact to your company's goals?

1 Define your social impact vision

The first step to link your social impact to your company's goals is to define your social impact vision. This is a clear and compelling statement of what you want to achieve, why it matters, and how it relates to your core purpose and values. Your social impact vision should guide your decisions, actions, and communications, and inspire your team and partners to join your mission. To craft your social impact vision, you can use tools such as the Theory of Change, the Impact Value Chain, or the Impact Management Project.

2 Align your social impact goals with your business goals

The next step is to align your social impact goals with your business goals . This means identifying the areas where you can create the most value for both your beneficiaries and your bottom line, and setting measurable and realistic targets for both. For example, if your company sells solar lamps, your social impact goals could be to reduce carbon emissions, improve access to education, and create local jobs, while your business goals could be to increase sales, market share, and customer loyalty. To align your social impact goals with your business goals, you can use frameworks such as the Sustainable Development Goals, the B Impact Assessment, or the Social Return on Investment.

3 Integrate your social impact into your operations

The third step is to integrate your social impact into your operations. This means embedding your social impact vision and goals into your policies, processes, and practices, and ensuring that they are consistent and coherent across your functions and departments. For example, you can integrate your social impact into your operations by adopting ethical sourcing, implementing green practices, promoting diversity and inclusion, and engaging your employees in volunteerism and philanthropy. To integrate your social impact into your operations, you can use tools such as the ISO 26000, the Global Reporting Initiative, or the B Corporation Certification.

4 Communicate your social impact to your stakeholders

The fourth step is to communicate your social impact to your stakeholders. This means telling your impact story in a clear, credible, and compelling way, and demonstrating how you are delivering on your promises and creating shared value. For example, you can communicate your social impact to your stakeholders by publishing impact reports, creating impact dashboards, hosting impact events, and leveraging social media and storytelling. To communicate your social impact to your stakeholders, you can use methods such as the Logic Model, the Balanced Scorecard, or the Impact Reporting and Investment Standards.

5 Evaluate and improve your social impact performance

The final step is to evaluate and improve your social impact performance. This means measuring and monitoring your progress and impact, and using the data and feedback to learn and improve. For example, you can evaluate and improve your social impact performance by conducting surveys, interviews, focus groups, and experiments, and applying the principles of adaptive management and continuous improvement. To evaluate and improve your social impact performance, you can use approaches such as the Social Impact Assessment, the Randomized Controlled Trials, or the Lean Data.

By following these steps, you can link your social impact to your company's goals, and create a culture of impact within your organization. This will not only help you achieve your social and environmental objectives, but also enhance your reputation, competitiveness, and sustainability in the long run.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?