Unlock the Power of Social Metrics with Envizi

By Janani J posted 22 days ago

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In a world where transparency is key, many organizations falter in capturing vital social metrics, risking stakeholder trust and ESG compliance. As companies increasingly seek to quantify their social impact alongside environmental metrics, Envizi supports this requirement with it’s Social Metrics feature, designed to align with your organization’s goals.

Social metrics include data related to employee measures, labor practices, workers in value chain, diversity & inclusion, community impact, and other social factors. Reporting on social metrics has been largely voluntary for enterprises thus-far, but is gradually becoming mandatory for companies as part of Environmental, Social, and Governance (ESG) disclosure requirements, for example CSRD/ESRS. Let’s explore what social metrics are, why these matter, and how Envizi can help you manage them.

What Are Social Metrics?

Social metrics quantify the social impact and engagement of an organization. Examples include:

Employee Satisfaction Scores: Metrics that measure the morale and engagement of employees.
Diversity Ratios: Data reflecting the diversity of a company’s workforce.
Community Investment: Metrics that track investments in local communities or charitable activities.

Why Are Companies Measuring and Tracking Social Metrics?

Organizations are focusing on social metrics for several compelling reasons:

ESG Disclosure: Stakeholders, including investors and customers, demand transparency in ESG practices. With regulated disclosure requirements like the CSRD, companies that effectively measure and report social metrics can comply with regulation and showcase their commitment to social responsibility.
Reputation Management: Positive social metrics enhance a company’s internal and external reputation, attracting and retaining talent and investors who prioritize ethical practices.
Improved Decision-Making: Tracking social metrics helps organizations identify areas for improvement and drive initiatives.

The Essence of Social Metrics in Envizi

Envizi's Social Metrics account styles allow for the capture of various non-environmental data points, accommodating up to 40 fields in a single account style. These fields can be classified as either instantaneous or accumulative. Unlike environmental data, which often requires conversion to dimensions like emissions in kgCO2e, social metrics typically utilize native units, which provide a foundation for reporting.

Image: Social metrics in Envizi

Key Feature

Monthly Normalization: Our platform normalizes all quantitative metrics monthly, offering a clear view of both instantaneous and accumulative trends vital for ongoing ESG reporting.
Dedicated Monthly Data Grid: Easily access your social metrics data in a dedicated grid, simplifying analysis and reporting.
Record Preservation: Social metrics maintain individual records for transparency.
Configurable Data Entry: Customize fields as picklists or text values, allowing for flexible data capture.
Custom Aggregation Methods: Tailor how you sum or average data to align with your organization’s social goals
Preconfigured Reporting Dashboards: Streamline the process for reporting

Image: Social metrics data in account styles

Social Metrics vs. Environmental Metrics

While both social and environmental metrics serve to quantify critical aspects of organizational performance, they do so in fundamentally different ways, which means these data types must be handled differently. Here’s a brief comparison:

Features	Social Metrics	Environmental Metrics
Data Structure	Classified as instantaneous or accumulative	Defined by data type with emission factors
Data Aggregation	Preserves records in monthly datasets and aggregates based on an instantaneous or accumulative classification	Combines overlapping data into a single monthly value, reports as accumulative by default
Normalization	Monthly normalization for both types of data	Applies emission factors for calculations
Cross-account Calculations	Limited to calculations within the same account style	More versatile with cross-account calculations
Access and Reporting	Available in the Social Metrics Monthly Data grid	Available in the Environmental Monthly Data grid

Smart Aggregation Methods

Envizi offers various aggregation methods to unlock insights:

Accumulative: Total monthly values over a specified period (e.g., total community contributions last year).
Instantaneous – Sum: Total for the most recent month (e.g., headcount at year-end).
Instantaneous – Average: Average values across defined periods for trend analysis.

As corporate responsibility takes center stage, measuring social metrics is crucial for building stakeholder trust and ensuring ESG compliance. Envizi’s Social Metrics feature equips organizations to effectively capture and report vital social data, transforming compliance into a powerful tool for reputation enhancement and informed decision-making. By embracing these metrics, companies can showcase their commitment to social responsibility, paving the way for a more equitable future. With Envizi, organizations are empowered to turn their social impact into meaningful outcomes that resonate with all stakeholders.

Get Started Today!

Are you ready to unlock the potential of social metrics? View the product demo to see how Envizi supports CSRD reporting here.

For more information or to enable specific features, reach out to our team. Let’s work together to tell the full story of your organization’s impact!

Have you started tracking and reporting on social metrics yet? Share your thoughts in the comments below!

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