Meaning ● Human Impact Metrics (HIMs) in the realm of SMBs quantify the influence of business operations and strategic changes on individuals, encompassing employees, customers, and the broader community. These metrics go beyond traditional financial statements, measuring factors such as job satisfaction, skill development, community engagement, and customer well-being to present a more balanced view of business performance. Considering automation implementation, HIMs may assess the effects of new technologies on workforce displacement or retraining needs, thus helping SMBs adapt and ensure a just transition. For growing SMBs, careful tracking and analysis of these indicators facilitate sustainable growth, strengthening brand reputation, and driving customer loyalty, ensuring long-term competitiveness. Businesses that proactively implement HIMs gain a deeper understanding of their societal impact, leading to better business outcomes. ● Implementing effective Human Impact metrics gives the business a lens into elements not typically included in conventional measures. This inclusion provides important information, thus supporting decisions aligned with broader business objectives. Focusing on HIMs makes the SMB much more competitive, enabling the business to become a key player.
