Companies are increasingly required to demonstrate the business and social returns on investment of their social investment activities. Flagship programmes will become increasingly prominent as they are one of the most effective vehicles to meet these requirements.
Our latest research paper delves into this interesting development in the social investment space.
As part of our research we undertook in-depth interviews with leading practitioners. We asked our interviewees what their top tips for fellow social investment professionals to design and implement successful programmes are.
Below is a summary of the key themes. These can be used by any social investment professional as they think about their next move to maximise the benefits their programmes bring.
- Pick an issue area that makes sense for the business. Find the unique intersection between your core competencies and society’s needs. This is where your programme should relentlessly focus.
- Internal engagement. Get this right and the programme will be driven forward by the organisation as whole. Get this wrong and it will be an uphill battle from day one.
- Get senior buy-in. Look out for every opportunity to involve senior leadership in key events and programme milestones. Senior management’s support is crucial to driving the programme forwards and embedding it throughout the organisation.
- Dedicate time and resources. This can’t be emphasised enough. Making a flagship programme successful is a big task. Having the requisite time and resources at hand is essential to success. Winning people over internally is crucial to getting the necessary resources.
- External engagement. Who are the experts and other interested parties you can engage to make sure your programme is hitting all the right buttons? Who are the stakeholders that your business relies on for continued success? How are they going to fit into the programme? It’s crucial to answer these questions as your programme develops.
- Develop partnerships. Not all the answers lie within. The right partnerships (be it with NGOs, suppliers, customers, or even competitors) are crucial in the development and delivery of any programme.
- Global themes in a local market. There is no one size fits all solution. Your programme needs to be sufficiently flexible so that it can be interpreted to accommodate local needs and conditions.
- Set ambitious targets. Setting an ambitious target gives a sense of purpose and direction. This public ambition can be used as a rallying call to gain the momentum the programme needs.
- Transparency on progress. Being clear on the progress made and challenges encountered engenders trust. Communicating this through the right channels will help spread awareness of your cause.
These are just some of the considerations to think about in the design and implementation of your flagship social investment programme. For our full findings, as well as practical guidance on how to design and implement a flagship programme that will differentiate your brand, cut through the noise and achieve meaningful impact click here.