What does Impact Sourcing Mean?
Impact sourcing is a business practice by which companies hire and provide career development opportunities to individuals from marginalized communities. It's poised to grow in popularity as more companies embrace social responsibility.
Through impact sourcing, brands provide employment opportunities to individuals who may not have access to traditional employment opportunities.
Target populations include people who are: impoverished, an ethnic or religious minority, LGBTQ+, disabled, veterans, elderly, refugees, single parents, and others.
Employers can benefit from the unique talents of these employees while still maintaining high-quality service standards.
There are multiple benefits to embracing this practice. It empowers companies to make a social impact, creating jobs for historically underserved populations. It also promotes skills development and career development opportunities that benefit individuals and communities over the long term.
When done well, it also results in long-term costs saving and improved brand loyalty.