The importance impact measurement now plays for many social enterprises and charities in the UK has been highlighted by The Social Impact Survey, from Buzzacott, Matter&Co and The Good Economy Partnership, published its results today (Monday 14th November), at The Good Deals Conference in Birmingham.
81% of respondents believe impact measurement is crucial or important to improve their business and the services they provide to achieve greater impact, with two thirds (67%) of organisations having used impact measurement tools such as Social Return on Investment, NPC’s Four Pillar approach and PQASSO.
The Social Impact Survey, supported by The Esmée Fairbairn Foundation, offers a picture of the types of impact practice and issues that are present within the sector, and the results provide a good basis for reflection and discussion. Whilst half of the charities and social enterprises demonstrated a positive attitude towards their own knowledge of impact measurement, concerns remained over both the proliferation of impact measurement tools available and the need for this data to be given greater precedence by funders when awarding grants. The majority (85%) found impact measurement to be challenging but worthwhile, however 11% of respondents found it too complex and difficult.
Key recommendations from the survey findings are:
· Make impact measurement useful by ensuring the expectations and approaches are proportional to the organisation
· Make language user-friendly: efforts need to be made to simplify the language used so impact management and measurement becomes seen as a normal part of managing a good social enterprise business or charity
· Support capacity-building of frontline organisations: funders should be open to funding the resources needed for impact measurement and management to help build strong and sustainable, high impact organisations
· Focus on information that will guide management such as gathering improved client feedback
· Build peer learning and bottom-up collaboration: collaboration between similar organisations could be a user-friendly way to build standards, indicators and benchmarks based on real-life experience.
Key themes emerged from the survey, including a need for greater consistency, simplicity and less jargon around impact measurement.
Eddie Finch, Charity Partner, Buzzacott said: “The survey results, which will be discussed publicly for the first time at the Good Deals conference today, show progress has been made in impact measurement within the charity and social enterprise sector, compared with trends identified four years ago. However, the results suggest a need to respond to the experiences of frontline organisations. Key themes emerged from the survey, including a need for greater consistency, simplicity and less jargon around impact measurement.”
Sarah Foster, CEO of The Good Economy Partnership: “Impact measurement is just one part of the process of managing an organisation to maximise impact. The survey results demonstrate the need to ensure impact measurement approaches are grounded in operational realities and maintain a focus on the people organisations aim to serve – so there is greater ‘downward accountability’ as well as ‘upward accountability’ to donors and investors.”
Caroline Mason, Chief Executive of Esmée Fairbairn Foundation comments, “As a grant funder and social investor, we want the focus of understanding impact to be improvement: helping organisations to make more of a difference for people in the UK. We supported this survey to increase understanding of the current challenges and rewards of today’s impact measurement practices, in the hope that we can make it better.”
7 Benefits You Should Consider Giving Your Energy Employees
As an energy startup, you’re always looking to offer the most competitive packages to entice top-tier talent. This can be tough, especially when trying to put something together that’s both affordable but also has perks that employees are after.
After all, this is an incredibly competitive field and one that’s constantly doing what it can to stay ahead. However, that’s why I’m bringing you a few helpful benefits that could be what bolsters you ahead of your competition. Check them out below:
One benefit commonly overlooked by companies is offering your employees financial advising services, which could help them tremendously in planning for their long-term goals with your firm. This includes anything from budgeting and savings plans to recommendations for credit repair services and investments. Try to take a look at if your energy company could bring on an extra person or two specifically for this role, as it will pay off tremendously regarding retention and employee happiness.
While often included in a lot of health benefits packages, offering your employees life insurance could be an excellent addition to your current perks. Although seldom used, life insurance is a small sign that shows you care about the life of their family beyond just office hours. Additionally, at such a low cost, this is a pretty simple aspect to add to your packages. Try contacting some brokers or insurance agents to see if you can find a policy that’s right for your firm.
Dedicated Time To Enjoy Their Hobbies
Although something seen more often in startups in Silicon Valley, having dedicated office time for employees to enjoy their passions is something that has shown great results. Whether it be learning the piano or taking on building a video game, having your team spend some time on the things they truly enjoy can translate to increased productivity. Why? Because giving them the ability to better themselves, they’ll in turn bring that to their work as well.
The Ability To Work Remotely
It’s no secret that a lot of employers despise the idea of letting their employees work remotely. However, it’s actually proven to hold some amazing benefits. According to Global Workplace Analytics, 95% of employers that allow their employees to telework reported an increased rate of retention, saving on both turnover and sick days. Depending on the needs of each individual role, this can be a strategy to implement either whenever your team wants or on assigned days. Either way, this is one perk almost everyone will love.
Even though it’s mandated for companies with over 50 employees, offering health insurance regardless is arguably a benefit well received across the board. In fact, as noted in research compiled by KFF, 28.6% of employers with less than 50 people still offered health care. Why is that the case? Because it shows you care about their well-being, and know that a healthy employee is one that doesn’t have to worry about astronomical medical bills.
Unlimited Time Off
This is a perk that almost no employer offers but should be regarded as something to consider. According to The Washington Post, only 1-2% of companies offer unlimited vacation, which it’s easy to see why. A true “unlimited vacation” program could be a firm’s worse nightmare, with employees skipping out every other week to enjoy themselves. However, with the right model in place that rewards hard work with days off, your employees will absolutely adore this policy.
A Full Pantry
Finally, having a pantry full of food can be one perk that’s not only relatively inexpensive but also adds to the value of the workplace. As noted by USA Today, when surveying employees who had snacks versus those who didn’t, 67% of those who did reported they were “very happy” with their work life. You’d be surprised at how much of a difference this could make, especially when considering the price point. Consider adding a kitchen to your office if you haven’t already, and always keep the snacks and drinks everyone wants fully stocked. Doing so will increase morale tremendously.
Compiling a great package for your energy company is going to take some time in looking at what you can afford versus what’s the most you can offer. While it might mean cutting back in other areas, having a workforce that feels like you genuinely want to take care of them can take you far. And with so many different benefits to include in your energy company’s package, which one is your favorite? Comment with your answers below!
Top 5 Renewable Energy Stocks to Watch
Do you feel morally obligated to put your money where your mouth is? I totally get it. We all want to make the world a better place, and I want to help you put your investments to work for you and the planet we call home – we only get one.
Questor Technology – CVE:QST
Questor Technology is one of the most promising penny stocks to follow under $5. It turns out that investing in renewable energy stocks doesn’t have to be expensive. In fact, you can get in on the ground floor by investing in penny stocks. These are companies that are just starting to make an impact. If they are successful in the long-run, you win BIG. If they fail, you’re only out a couple pennies. Small risk and big potential reward.
Questor Technology is exciting because they are solving one of the biggest barriers to a greener planet – huge waste and pollution from the oil and gas industry. When they first launched they enjoyed a couple of record years. But as the economy took a hit, so did the oil and gas sector.
I love these guys because they didn’t call it quits. Instead of hanging up the towel, they retooled and relaunched. Now, instead of selling clean energy tech to large oil and gas firms, they rent the tech out. This provides a stable, ongoing revenue. And, if the economy takes another dip, they can quickly scale operations back.
I’m expecting a major upswing. If you have a couple of extra pennies in your portfolio, chuck ‘em at these guys.
NRG Yield – NYSE:NYLD
If you’re willing to dance with the devil, NRG Yield is an exciting company to watch. They invest and offer all forms of energy – from renewable to traditional. I’m really encouraged by their massive investment in renewable energy.
In recent years, making energy more environmentally sustainable has become a focus for a company that used to be one of the bad guys. I think we should encourage companies to stop killing our planet. These guys are on a warpath on behalf of green energy – and so what if they showed up a little late to the party. Don’t we want to reward reform?
Oh, and speaking of green, they’ve had a phenomenal year for investors. I definitely recommend adding them to your portfolio.
Brookfield Asset Management – NYSE:BAM
This is an asset management firm that has gone big on renewable energy. Part of their genius is that they stayed on the sidelines while renewable firms launched and fought over access to technology and resources. While they watched the good guys duke it out, they swooped in and picked up green energy firms that stumbled.
This means that their investors are able to invest in green energy at a HUGE discount. Brookfield Asset Management has more than 100 years of experience making strong investment plays. I love that they allow investors to access green technology without paying the hype premium.
Pattern Energy Group – NASDAQ:PEGI
Based in San Francisco, Pattern Energy Group is a pure green energy play. They’ve spent that past few decades building, expanding and innovating with more than 20 renewable energy facilities. If you’re a bleeding heart with a passion for green energy, this is as good as it gets!
You can purchase stock in their company on two different exchanges – the NASDAQ and Toronto Stock Exchange. This allows investors both north and south of the border to avoid international transaction fees. Savvy investors can compare both markets to find the best bang for the green dollar.
Carnegie Clean Energy – ASX:CCE
I saved the best for last with this stock. Carnegie Clean Energy harnesses the kinetic motion of ocean waves to generate energy. Their tech has been proven by the Australian defense sector – helping to power a naval base at Garden Island.
They also have dipped into other forms of renewable energy, so they have a bright future in a variety of markets. I wouldn’t be surprised to see a buyout shortly based on the proprietary, proven technology that this firm owns the rights to.
In conclusion, it is totally possible to be green-conscious while making some green for your investment portfolio. Some companies are more committed than others, but I’m not afraid of rewarding traditional energy companies if they’re making a solid effort to diversify and make the world a greener place.