Socially conscious organizations seek to embrace initiatives that better not only their organization but their employees, stakeholders - almost anyone who shares a material interest in that very entity.
As such, there are numerous indicators organizations can use to measure their social impact, according to the Organisation for Economic Co-operation and Development (OECD). These indicators include:
- Employment — such as hiring, turnover, and promotion.
- Earnings — wages, benefits, executive pay gap, and financial insecurity.
- Learning & skills — skills obtained on the job and the intersection of work and personal development.
- Health —absenteeism, mental health, and health & safety in working conditions.
- Social support — manager effectiveness and trust between workers.
- Work/life balance — annual leave, parental leave, and average working hours per employee.
- Employees’ voices & feedback — trust in management, upward feedback of managers, and mechanisms to give employees a voice.
Moreover, to address the impact on the well-being of local communities and society as a whole, the OECD highlights the following indicators:
- Economic—Taxes paid and revenue generated in each locality.
- Human-strategic community investment, such as when a company brings its banking relationships to assist in small business funding for local entrepreneurs.
- Social—board composition and compensation, political contributions, and fines paid.