Corporate social responsibility (CSR) programs continue to grow at a rapid pace. Most businesses of all sizes have implemented one or more giving initiatives in order to reap the many benefits of being a socially responsible company. Although CSR has been a popular practice for years, there is one question that still seems to plague many organizations: How do we effectively track the impact of our corporate social responsibility programs?
As the role of social impact continues to become intertwined with today's corporate culture, it's vital to be able to accurately measure the effectiveness of an organization's giving in order to share their successes with their employees, investors, and customers. The truth is, tracking methods will vary from company to company and will depend on the specific goals of each program. However, if you're not sure where to start, we have outlined 3 basic ways to track the impact of your CSR programs.
1.) Be strategic in your partnerships.
If possible, choose to partner with organizations who are already tracking the results of their efforts and can provide the data needed for you to assess the impact of your contributions. The data you'll need will vary for each corporate giving program, but in almost every case you will want to try to collect both quantitative and qualitative data from the organizations you are working with. Not all nonprofits have a system set up to track impact for each of their donors, so it is sometimes difficult to gather data specific to your charitable efforts. It is best to work with the organization ahead of time to determine what impact data will be needed during the program and once it is completed.
2.) Survey your employees.
Gaining feedback from your employees will enable you to evaluate the effectiveness of your CSR programs in terms of employee satisfaction and engagement. Creating an annual survey on employee giving programs is a good place to start; however, asking for feedback on a more regular basis, while experiences are still fresh in employees' minds, will yield better results.
3.) Choose your technology wisely.
Online solutions that can facilitate the tracking process are key to compiling data for impact reports. Ideally, you'd want to use an innovative platform like DonationXchange that manages all of your giving initiatives in once place, so you can track, compare, and administer programs more easily.
Added On July 24, 2018