Many of us have encountered the acronym ROI, or Return on Investment, at some point in our careers. The idea is a fairly simple one. It is a calculation that quantifies how much value, usually monetary, you will get back after an initial investment. But what happens when some of the returned value isn’t as easily quantifiable?
At Transcend IT, we’re trying to break systemic barriers and create equitable employment for underrepresented communities. Because what we do doesn’t have the same sort of obvious value, we use the methodology of Social Return on Investment, or SROI.
How SROI works
In layman's terms, SROI tries to put a monetary value on such things as environmental impact or social change. Since Transcend IT is working to advocate for whole person practices within training, hiring, and job placement, much of our value comes from a complex-to-quantify outcome seen on a community and societal level.
Understanding an organization's impact has become a huge part of forecasting value because it helps to improve management of projects via planning and evaluation. This is especially true for non-profit organizations which are almost always mission driven.
What it looks like at Transcend IT
Our values of Hope, Innovation, Transformation, Empowerment, Adaptability, and Mentorship guide the work that we do and our goal is to have that work not only benefit the individuals we train, but also the general public. Our free programs provide participants a gateway to sustainable employment and income.
The bottom line is that every $1 invested in Transcend IT sees a $6.58 SROI. This value comes from an increase in future earnings based on placement, an increase in economic activity from additional spending, likelihood of second generation’s income benefits, and an avoidance of the necessity for public assistance programs.
Obviously, the biggest benefactors of our $1 to $6.58 SROI are the program participants themselves. From the program being free to finding work in either network operations, network analysis, or help desk positions, our participants have the potential for a huge financial shift in their daily lives.
Society at large is the next major benefactor from this valuable return. Because the participants are able to make more money after they have been placed into their new roles, they can consume more, which leads to economic growth both locally and nationally.
Next, the rest of us (i.e. taxpayers) benefit from this type of social return. This happens due to increased state sales taxes paid, local and federal income taxes paid, and additional after-tax earnings.
Lastly, the children of our participants benefit from these programs greatly. Simply put, our participants are able to help provide a more financially secure life for their families. This has a ripple effect that can last for many years to come.
How to get involved
If you want to be a part of the incredible social value that we create for our community, consider donating today. It’s hard to believe, but yes, for every $1 you donate to help us change the lives of our most underrepresented neighbors, there is a return of $6.58 in social value.
At Transcend IT the key to success is not in what we do but how we do it. With your help, we know that we can accomplish our goals and make society better.