Aligning Grantmakers and Corporations for Greater Impact

The term 'cross-sector collaboration' emerges in almost every conversation around social impact. This concept is great news due to the potential power of collaboration to drive large-scale change. It's also a painful suggestion for organizations working at the local level or feeling a sense of urgency! It's undoubtedly true that if we're going to address society's biggest challenges, we must make sure that all of our key players are aligned and involved. 

So how can grant-makers and corporations partner for impact without getting bogged down in collaborative minutia? 

Here are four ways to align your efforts to make collaboration easier:

1) Ground Your WHY in Social Impact

The Sustainable Development Goals are a wonderful way to align grantmakers and corporate goals. Which SDG are you collectively trying to address- and what existing resources will you each bring to the table to move the needle?

2) Cut to the Punch with ESG Metrics

Too often, collaborators come up with a great idea without considering measurable outcomes- causing confusion and frustration at the end of the day. Be Clear Up Front about the outcomes you need to see to consider your collaboration fruitful. If you're unsure where to start, the Sustainability Accounting Standards Board lists relevant ESG metrics for each industry. Here's that list. 

3) Understand the Math

A business must be able to make a case for how community engagement will support its bottom line. Don't be afraid to discuss how a partnership will benefit all stakeholders: employees, customers, partners and communities. The more benefits you can co-create, the greater the likelihood of a long-term partnership.  

4) Tell the Story

People can't support your collaboration if they don't understand why it matters, whether it's working, or how to get involved. As you think about the benefits to each stakeholder group, consider how they can participate in your efforts.

At some point along the way, many of us learned that we could either choose to 'make a difference through nonprofit work or 'make a buck' in the business world. But expectations are changing: 86% of consumers now expect businesses to address social issues. 

And grantmakers have a unique opportunity to lead businesses effectively through meaningful, well-aligned partnerships.