Which are the key factors for measuring social impact?

The Chair in Social Impact at Comillas Pontifical University has just presented the report "Proposals for the measurement and management of social impact. Measure to decide”. It is the second project of this kind, and offers some key factors to develop a good, accurate and efficient measurement of social impact to the ecosystem, through the experience of an ensemble of organisations that make up the think tank of the Chair in Social Impact and its practice community.

This report is a call to action to gradually and systematically incorporate measurements in order to move towards management models or strategies based on their social impact. In the words of Carlos Ballesteros, director of the Chair in Social Impact, “a good impact measurement must put interest groups at the centre. Measurement should be used to make decisions that aim to improve their impact by actively involving the people who experience the effects of their intervention".

In this sense, as the report states, measuring allows “to have the necessary information in strategic decision-making to manage and improve the organisation’s impact over people and the planet”, and “facilitates access to funding, talent attraction, new market opportunities or better risk identification”. But, above all, measuring is an exercise in transparency, essential for the accountability of organisations to their interest groups. For 25% of the organisations in the community of practice, stakeholder involvement aligns the strategy of the project or organisation with the interests of individuals and groups. For the 20%, it represents a learning source, for another 20%, legitimacy, and for a 15%, accuracy.

The report suggests to follow a measurement process feasible for any organisation based on a progressive but effective application of management and measurement principles of social impact agreed upon in the think tank framework. The practice of different types of organisations indicates that, if measurement is approached progressively, as a learning and capacity building pathway, putting in proper resources, impact measurement brings legitimacy and many other benefits.

The report launch ceremony was hosted by Keremy Nicholls, founder of Social Value International and director of the verification programme of the UNDP SDG Impact Standards. Milagros Paniagua, general secretary for Objectives and Policies of Social Inclusion and Forecast at the Ministry of Inclusion, Social Security and Migrations; Mireia Ferré, president of ESIMPACT; Rocío García, regional director of the Fundación Secretariado Gitano in Madrid; Soledad Díaz-Noriega, responsible partner of the Sustainability, Impact and Climate Risk Practice at Management Solutions, and Bárbara Calderón, coordinator of the Knowledge Creation Area of the Chair in Social Impact, took part in the ceremony. Mario Scade and Sonsoles García Sánchez, CEO and manager of the Analysis and Measurement Area, respectively, at MAS Business also participated.