Big Society Capital advancing EIIP recommendation to revise its outcomes matrix

A key recommendation of EIIP’s foundational research is that impact management and measurement (IMM) frameworks used within the impact investment sector need to be better aligned with equality and human rights considerations.

Big Society Capital’s Outcomes Matrix, created in 2014, is used widely across the social sector as a tool to articulate and measure impact. It consists of outcome areas with specific indicators and articulates a number of beneficiary groups that organisations may want to target. We are delighted that BSC has responded to the recommendation to begin a process to review and revise its matrix.

At EIIP’s most recent UK Taskforce meeting, Mwansa Phiri, BSC Social Impact Manager, presented BSC’s work-to-date on this initiative, which aims to 1) As far as possible, align the matrix with other equality and human rights frameworks - namely the Equality and Human Rights Commission’s Equality Measurement Framework, the LSE Multi-dimensional Inequality Framework and the SDGs; 2) ensure the useability and usefulness of the matrix as a strategic planning and measurement tool in the UK social investment market; 3) adapt and redesign the matrix to fulfil the above two goals.

She outlined the phases of the process, which has included consultations with frontline organisations and intermediaries to understand how they were using matrix and how the inequality lens is reflected in the tool. BSC also carried out a gap analysis to map the matrix against the other equality frameworks. The final phase involves implementing the recommendations and relaunching the tool after a period of user-testing.

Some of the key recommendations arising from this process include updating the language of existing outcomes, adding additional outcomes to existing outcomes areas, adapting the list of beneficiary groups and providing upfront guidance to users on how to apply an equality lens with the framework, including signposting to additional resources. The new matrix is expected to be launched in July 2021.

EIIP’s also has a dedicated strand of work in this area and is working with Dr Jess Daggers and other impact measurement experts from both the equality and human rights and investing sectors to assess, and identify how to develop, IMM frameworks from an EII perspective. Please do get in touch if you would like to get involved.

Source: EIIP’s foundational report Equality Impact Investing: From Principals to Practice