True Impact and ACCP Unveil Comprehensive Guide to Empower CSR Practitioners in Measuring Social Impact

June 26, 2024 /3BL/ - True Impact, the sector's leading social impact measurement platform, and the Association of Corporate Citizenship Professionals (ACCP), the leading membership association working to improve the effectiveness of corporate social impact, have joined forces to launch a new guide designed to aid Corporate Social Responsibility (CSR) practitioners in effectively measuring their corporations' social impact. This resource, titled "Measuring Corporate Social Impact: Recommendations for Better Partnerships and Reporting," offers a structured four-step process that simplifies impact measurement and promotes meaningful results without burdening nonprofit partners. The guide can be found on both True Impact and ACCP’s websites.

ACCP and True Impact’s recommendations come from decades of collective experience working with companies and their CSR programs, as well as the results of a survey of corporate social impact practitioners from global and national companies.

Meeting the Demand for Accountability in Corporate Social Responsibility

As climate change, socio-economic disparity, and other societal challenges intensify, purpose-driven employees and socially minded consumers continue to demand greater accountability from corporations regarding their social impact. According to the survey, the need for impact measurement data is pressing, with significant interest from the C-suite (76%), the Sustainability/ESG Committee (66%), marketing and communications (64%), and the general employee population (34%).

Recognizing this demand, True Impact and ACCP have crafted this guide to help CSR practitioners initiate or refine their impact measurement strategies.

A Four-Step Process for Measuring Impact

The guide introduces the following four-step process that demystifies impact measurement, enabling practitioners to proceed with confidence:

1. Determine and Track Philanthropic Priorities: Identify and monitor key areas of philanthropic focus.

2. Set Effective Reporting Requirements: Establish clear reporting expectations for nonprofit partners.

3. Claim Your Impact (No More, No Less): Accurately measure and report the impact of your CSR initiatives.

4. Maximize Investments: Use insights from your results to enhance future social and business returns on investment.

Defining “Impact Measurement”

The toolkit addresses common misconceptions about impact measurement by clarifying the distinctions between inputs, outputs, and outcomes. Impact is defined as the way a CSR program improves lives or contributes to a better society. For example, a grant supporting workforce development can be broken down as follows:

• Input: $10,000 donated to job placement programs for underprivileged communities.
• Output: Training provided to 50 underemployed individuals.
• Outcomes: 43 individuals secured new, better-paying jobs.

Focusing on outcomes is the only way CSR practitioners can ensure their efforts lead to tangible improvements in the communities they serve.

Why Measuring Impact Matters

ACCP and True Impact gleaned from the results of the survey a strong case for how measuring impact can help CSR programs:

• Enhance the stature of their work within the corporation.
• Demonstrate a genuine commitment to social impact to employees.
• Provide proof of impact to executives and external stakeholders.
• Enable continuous evaluation and improvement of their initiatives.

Finding the Right Balance

The toolkit emphasizes the importance of striking a balance between not tracking impact and overburdening nonprofit partners. It encourages practical outcomes measurement as a reasonable middle ground, ensuring CSR initiatives are both impactful and manageable.

Overcoming Obstacles to Impact Measurement

The toolkit also addresses common challenges faced by CSR practitioners, such as limited resources, lack of support, and scattered data. By providing a clear, actionable framework, the toolkit empowers practitioners to overcome these obstacles and achieve meaningful impact measurement.

To download the report visit True Impact or ACCP’s dedicated resource pages.

About True Impact

True Impact is a certified B-corporation that helps Fortune 1000 companies and their nonprofit partners measure and maximize the social impact of their philanthropic efforts. Their CSR services combine social impact experts with a best-in-class impact measurement platform to empower nonprofits while providing critical insights for CSR and foundation teams. They’ve helped thousands of funders and nonprofits measure their impacts.

About ACCP

The Association of Corporate Citizenship Professionals (ACCP) is the preeminent membership organization advancing the practice of corporate social impact. ACCP increases the effectiveness of CSR & ESG professionals and their companies by sharing knowledge, fostering solutions, and cultivating inclusive and supportive peer communities. ACCP amplifies the voices of its practitioner network to elevate strategies that work, provide innovative solutions, and expand impact.