Social Impact Assessment and Measurement: A Strategic Imperative for Businesses

As part of its Annual Conference on March 25th 2025, the Academy of Givers hosted a compelling workshop led by Ovidiu Tierean, Senior Advisor at PKF Malta, tackling Social Impact Assessment and Measurement.

In today’s socially conscious marketplace, businesses are increasingly held accountable not only for their financial performance but also for the impact they have on people and communities. Social Impact Assessment (SIA) and measurement have emerged as essential tools for responsible business operations, strategic decision-making, and long-term success.

Social Impact Assessment is the process of analysing, monitoring, and managing the intended and unintended social consequences of business activities. Whether launching a new project or evaluating ongoing initiatives, SIA helps organisations understand how their actions affect individuals and communities.

Dr Tierean emphasised how adopting an effective SIA system can benefit companies by enhancing brand reputation and stakeholder trust, identifying and mitigating potential risks, and, above all, by driving sustainable growth and innovation.

There are different elements businesses should measure when engaging in SIA:

Demographics: Age, gender, local and migrant populations‍
Economic Variables: Employment, income, cost of living
Social & Cultural Aspects: Community cohesion, education, health‍
Infrastructure: Housing, transport, services access
Environmental Quality: Air, water, green spaces‍
Governance: Participation, trust in institutions
Psychosocial Effects: Public perception, stress, behavioral changes

However, measuring in itself is not enough. To truly understand and enhance social impact, businesses must:

Start with the end in mind: Define success early‍
Think long-term: Look beyond short-term outputs‍
Engage the community: Let affected voices shape the process‍
Assess comprehensively: Consider both positive and negative outcomes

Through real-world scenarios and an interactive exercise, Dr Tierean guided participants into building their own SIA strategy, leaving them with a step-by-step guide to measure impact:

Define what success looks like
Identify meaningful metrics (quantitative and qualitative)
Consider short- and long-term goals
Account for contextual influences
Create accountability mechanisms
Gather and analyse data
Encourage stakeholder feedback
Iterate and improve based on findings

Social Impact Assessment and measurement are no longer optional—they are strategic imperatives. Businesses that align their operations with social good not only safeguard their future but also become agents of positive change.

By adopting a systematic, inclusive, and transparent approach to SIA, organisations can transform impact into a powerful driver of innovation, trust, and long-term value.

Download the presentation to learn more about SIA.

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