Meaning ● Social impact, within the SMB sphere, represents the measurable effect a company’s actions have on society and the environment. Specifically, concerning growth, automation, and implementation, this encompasses strategies like leveraging technology to reduce waste, creating more inclusive hiring practices with scalable HR automation, or developing products/services that address specific social needs, driving business value and community improvement concurrently. Automation investments may need to be aligned to support this business objective, such as implementing ethical AI governance within the automation roadmap to measure the impact, to show to investors. These actions can improve brand reputation, attract and retain top talent, and enhance customer loyalty, all business growth levers. ● Consider it also the effect on the broader community, for example, offering flexible work arrangement by implementation of tech, affecting employee life and morale positively, ultimately promoting their overall wellbeing which affects the local families directly, boosting the SMB’s overall profile and retention rates. In other words, SMBs now see social impact less as corporate philanthropy and more as a crucial element of sustainable, scalable business models driving positive, direct return on their investment.
