SROI and Stakeholder Engagement Programs
As organizations need to increase their level of engagement with their stakeholders, they have to implement innovative sustainability programs that provide added value, while at the same time support the corporate sustainability strategy. An organization’s Social Return on Investment (SROI) is the social value created by its stakeholders As organizations need to increase their level of engagement with their stakeholders, they have to implement innovative sustainability programs that provide added value, while at the same time supporting the corporate sustainability strategy activities, where “social value” refers to social, environmental and economic costs and benefits. SROI is an approach that is based on cost-benefit analysis, and places particular emphasis on stakeholder engagement.
An SROI assessment can be carried out about specific activities which it undertakes.
Undertaking an SROI assessment can help organizations to make statements such as “for every € or $ 1 spent, we achieve outcomes worth € or $ X”. This is known as the SROI ratio, and captures the effectiveness of the organization in turning its resources into positive outcomes.
The results of the assessment can be used internally to guide decision-making about how the company`s activities can be refined, developed or extended. The assessment also provides an evidence base describing the value that is created by an organization, which may be of interest to stakeholders.
CSE services include:
- Assesment of the selected CSR program based on SROI methodology
- Reporting of social value generated from the CSR program investment (Short term and long term)
- Reporting outcomes and areas for improvement for maximizing value