BIF clients setting Key Performance Indicators for their social impact
Some companies supported by the Business Innovation Facility are creating or adapting their Key Performance Indicators, so as to better track their social impact.
A new post in the Results Network outlines why and how they are doing this, drawing on experience with Afri-Nut, Universal Industries, Jita, and others. In essence, there are at least four drivers behind this:
1. to track delivery of their combined commercial and social mission
2. to ensure operational efficiency and provide early warnings in the supply chain
3. to appeal to Impact Investors, and integrate the 'IRIS indicators' that they use
4. to modify targets that will affect staff performance and incentives, so as to avoid over emphasis on either commercial or social delivery.
They also face challenges, particularly when it comes to gathering data at farmer level.
To read more, and access related presentations plus an extract of IRIS indicators that are relevant to agribusiness, see the new post in the Impacts Network: Why and how companies set key performance indicators for social res...