Outcomes Measurement Initiative
The Outcome Measurement Initiative (the Initiative) aims to build outcome measurement capacity and grow the Social Impact Investing sector. Up to $6.7 million was committed to help for-purpose organisations define, measure and communicate their non-financial outcomes and social impact.
The Initiative helped organisations to expand their programs, increase their impact in the lives of their participants, and diversify their funding sources. It aimed to show value to investors by:
- improving the standard and consistency of outcome and impact measurement (OIM)
- building the confidence of investors
- encouraging investment in social impact opportunities.
In 2021-22, the department consulted with stakeholders to investigate further activities to help the sector better measure and communicate OIM. This included:
- two advisory groups testing options for new activities
- stakeholder interviews
- international jurisdiction review
- background literature review
Learnings are being consolidated. These will be made available in due course.
Outcome and Impact Measurement Case Studies
Since 2019-20, funding was provided to Global Sisters and Vanguard Laundry to support them to focus on improving their service, scale impact to attract capital investment, and share their OIM journey with others. Urbis worked with them to focus on the measurement approaches used, synthesise their journeys and create a series of case studies capturing their experiences and learnings.
Through the OIM Case Studies they are sharing their journeys:
Global Sisters is a not-for-profit organisation that works with women experiencing barriers to employment and financial wellbeing.
Global Sisters helps bring business ideas to life, so Sisters can achieve financial independence.
Follow this link to Global Sisters’ OIM Case Studies, videos and key findings.
Vanguard Laundry is a work-integrated social enterprise delivering commercial laundry services in Toowoomba, Queensland.
Vanguard’s Social Impact Centre provides employment and career development support. It helps people with a lived experience of social disadvantage to establish themselves in the workforce and transition to other paid jobs in the community.
Follow this link to Vanguard Laundry’s OIM Case Studies, videos and key findings.
OIM Case Studies panel webinar
In November 2022, representatives from Urbis, Global Sisters, Vanguard Laundry and DSS participated in a panel webinar presented by SIMNA (Social Impact Measurement Network Australia).
The panel provided the opportunity to bring to a close the OIM Case Studies project. Global Sisters and Vanguard shared their approach and understanding of the value of OIM to improve services, scale impact and attract investment capital.
The project has proven to be successful in providing insights to other organisations, with key take-outs, including:
- not purchasing an expensive OIM system
- measuring what matters to your people, and include them; and
- measuring as you benefit from shorter feedback loops to make the changes needed.
Vanguard and Global Sisters have also successfully expanded their programs, increased their impact in the lives of their participants and diversified their funding sources.
The OIM Case Studies panel presentation is available on the SIMNA website at Event round up: Outcome measurement initiative panel | SIMNA.