WHY THIS WORK MATTERS
Social Outcomes was established in 2014 in response to a global move to focusing on outcomes and social innovation, as well as rapid changes in the impact investing market in Australia and our region. We also wanted to work with people we love and respect, as well as address issues that are important to us all.
As things change so rapidly, we are all learning to adapt. Government funding is decreasing and the social sector is looking for ways to respond. CSR budgets in the business sector are shrinking yet the desire of companies to create meaningful shared value impact through their work is growing. Philanthropic grantmaking is becoming more focused and requiring greater clarity on the impacts created. We are seeing an overall shift towards creative partnerships that combine the core capabilities of the private, government and not-for-profit sectors, to build stronger, more resilient communities.
Impact investment capital pools are building and social innovation models are being created. All sectors are looking to understand how to use these new approaches, and make them work in practice. Questions such as “Should we think about a Social Impact Bond or a Payment by Outcome contract for this?“, “Should we establish a social enterprise?“, “How will we measure the outcomes?“, “How can we fund our initiative?” and “Who should we be partnering with to create shared value?” are constantly being asked.
Social Outcomes helps answer these key strategic questions and partners with organisations to test and design solutions that will work. This video, kindly created by Jessie Williams, the CEO of The Groundswell Project is an example of what this work can achieve in an organisation.
WHAT WE DO
Social Outcomes is a for-purpose business that specialises in the research, design, measurement and financing of evidence-based social impact models. We particularly focus on new social and financial innovations such as social impact bonds and payment by outcomes contracting, impact investing, shared value, social enterprise, and social procurement. Each client engagement is a carefully tailored process that may include:
- An impact report that explores the scale, scope and costs of a particular social issue
- An in-depth analysis of the costs, potential cost savings and benefits of social and/or environmental programs
- Providing capacity building around using social and financial innovation tools
- Identifying and brokering relationships with the right partners (providers, corporations, investors, philanthropy, universities, government agencies)
- Designing an evidence based approach based on research of successful models in Australia and around the world
- Providing specialist expertise to develop funding options
- Undertaking contract or investment readiness assessments and developing the capacity required
- Designing and developing impact measurement frameworks
- Assisting with the program implementation where required
TOOLS WE USE
Our team are all experienced practitioners who have worked for many years successfully delivering ground-breaking social innovations, using a range of social and financial innovation approaches. Our ‘social impact toolbox’ includes: