5 metrics for social impact measurement

Innovation requires measurement and taking action towards social impact requires impact metrics. These are firm-level indicators used to track social and environmental progress. Developing an impact measurement strategy can set you apart and help achieve clear and unbiased objectives. The strategy should be aligned with the firm’s general mission and adapted to the specific audience to provide actionable insight and feedback. Metrics can help measure the impact and improve accordingly, always keeping social and environmental goals in mind. There are different types of impact metrics like net results metrics, net promoter scores, outreach metrics, inclusion and diversity metrics, and open feedback. Each project will require a different set of metrics to track social and environmental progress.