The business case for social impact has traditionally leaned on external data and proof points to advance prioritization and resourcing. But in today’s climate, executive leaders need more than generalized ROI studies — they need impact strategies that directly address their most pressing challenges. How can impact leaders shift the conversation from justification to integration, proving shared value in ways that truly move the business forward?
On May 15th, NationSwell convened leaders for a virtual Leader Roundtable on Creating Shared Value and a Better Business Case for Impact. Some of the most salient takeaways from the discussion appear below.
Takeaways:
Leverage your organization’s core assets to create impact. Programs that deliver both business and social returns often draw on unique corporate capabilities—such as expertise, data, technology, or logistics—to create value in the marketplace while also addressing societal needs. These asset-driven approaches tend to be more durable and scalable than philanthropic giving alone.Taking an asset-driven approach creates an important and inherent link between your impact and enterprise goals.
Speak the language of the business In making the case for your impact programs to key stakeholders and executives, it can be helpful to show how they do double duty in addressing the key challenges your business is seeking to address. Pivoting the language you use when addressing these stakeholders to include more of the metrics and terms they use in their day-to-day — (ie. how programs are creating volume growth, etc.) can also be helpful in making the business case for impact.
Don’t underestimate storytelling when seeking buy-in or equipping leaders to convey your impact. One leader shared that using a mix of ROI metrics and storytelling has been most effective in conveying impact to key stakeholders. Stories can help to personalize the work in a way that makes it easier to understand than the raw data, and also helps to provide executives with anecdotes that they can feel proud of and easily convey in forums or at speaking engagements with other leaders.
Hardwire your strategy and goals so they can “outlast the CEO”. In designing with legacy and longevity in mind, ensure that programs have shared ownership and accountability baked in so that no one leader or executive can “take the work with them.” Ensuring that your impact work is well-integrated with larger business goals from the beginning also helps to ensure that it will continue for the long term.
Co-create with the business, not for the business. Successful impact teams work closely with internal business units to design and execute programs. This involves building strong cross-functional relationships, adopting the same performance discipline as the core business, and ensuring shared ownership of outcomes and accountability.
Invest in strategies to engage middle management. Middle managers often control the day-to-day levers that enable or block employee engagement and program execution. Their buy-in is essential, yet frequently overlooked. Unlocking this layer can accelerate adoption and boost program credibility across the organization.
Don’t let perfection stand in the way of progress. Waiting for the ideal set of metrics or a fully formed theory of change can stall good ideas from taking hold. Leaders emphasized the importance of launching early, testing often, and using results to build momentum and iterate.
Anticipate how executives are thinking. Beyond ensuring credibility and demonstrating partnership, regularly engaging with and shadowing business leaders can help you to understand how they’re thinking in ways that allow you to be more intentional about the ways you design and measure your impact programs. Using the same discipline the business is using around operations reviews, setting long-term goals that are business-aligned, and understanding risk tolerance can all help to make the work more resilient.
Embed your programs in your people strategy. Taking a personal approach to design that’s based on your team’s needs can help to drive employee engagement and create a sense of shared value and purpose. Creating more intentional upskilling or engagement opportunities can help to curb attrition rates, cultivate buy-in, and drive community impact.