SOCIAL INVESTMENT IMPACT ASSESSMENT OF CSR
IMPLEMENTATION PT CATUR ELANG PERKASA USING SOCIAL
RETURN ON INVESTMENT (SROI) METHOD
Introduction:
A company cannot be separated from the citizens and the surrounding area. company has
various forms of responsibility to its stakeholders as well as to various aspects of the industry
which include economic, social, and environmentalaspects. This is supported by the opinion
(Nasdian 2014) that a good industry does not only take profits, but a good industry also has
concern for the living area.and welfare residents. Activities operations of the company must take
into account the interests of stakeholders or the entire community, and not only consider the
interestscompany or shareholders alone. The operation of an industry does not only create
positive consequences, but also negative consequences such as pollution of the area due to waste
generated from industrial activities. T heref ore , the industry is obliged to build good ties with
the surrounding community. One of the efforts to build good ties with residents and the
surrounding area is the distribution of Corporate Social Responsibility programs (Nawawi 2013).
According to ISO 26000 (2010) Corporate Social Responsibility is an organization's
responsibility for the effects created by its activities on citizens and the area through a
transparent and ethical attitude that is sustainable with sustainable development and the welfare
of citizens by also prioritizing the interests of its stakeholders. ISO 26000 is a certification for
the implementation of Corporate Social Responsibility that must be implemented by industry
which contains 7 important points, namely citizen development, consumers, good corporate
activity practices, the area, labor, human rights, and government agencies. The World Business
Council for Sustainable Development (WBCSD) defines Corporate Social Responsibility as a
form of action that comes from appropriate steps for industries that are useful for economic
improvement and improving the quality of life for employees and their families, as well as
improving the quality of life of the general public (Hadi 2014). In line with this definition, CSR
plays a strategic role for companies in order to contribute positively to various stakeholder
groups, especially in this case the community around the company. Thus, CSR can be expressed
as the industry's efforts to build harmonious communication and interaction with residents
around the industry. Corporate Social Responsibility is not a new concept in the business world.
The concept of CSR has existed since 1953 in a book entitled Social Responsibilities of
Businessman by Howard Bowen, known as the father of CSR. (Elkington 1997) states that if a
company wants to be sustainable in its business, it should pay attention to The Triple Bottom
Line or known as the 3P's Concept, namely Profit, People, and Planet. This means that for all
companies that want to be sustainable, ideally they should pay attention to all aspects of The
Triple Bottom Line, not just profitability.
A widely accepted standard for CSR disclosure in annual reports is the Global Reporting
Initiative (GRI) report. The GRI guidelines are based on key information that industries need to
disclose. The data covers some aspects viz: economy, area, social, human rights, citizens, and
product responsibility. The problem with the disclosure of CSR activities in Indonesia is that it is
still voluntary and has not been regulated in a legal and standardized standard, so that the form of
reporting in reporting CSR activities carried out by companies in Indonesia is still in various
forms whose autonomy of preparation is left to each company. In addition, Indonesia does not
yet have regulations that make it mandatory for every industry to report on CSR activities on an
ongoing basis. The figure below shows the development of companies using the GRI standard in
making sustainability reports in Indonesia (Figure 2).
In Figure 2 it appears that most industries have not published their social and
environmental responsibility reports using the GRI standards, but their use continues to grow
every year. From 2005 to 2015, there has been an increase in industries adopting GRI standards
for social responsibility reporting. This shows that industries and investors nowadays do not only
focus on looking at the state of the industry in terms of financial performance, but also look at
how the industry protects the sustainability of its business with the environment and society
(Gunawan 2011).
An analytical tool that can be applied in the preparation of social reporting is the Social
Return On Investment (SROI) method. This analytical tool developed from social accounting and
cost-benefit analysis can also be used as an analytical tool in social reporting, namely to measure
the financial value of program impacts. Social Return on Investment (SROI) analysis is an
appropriate procedure applied to be able to measure the valuation of the financial achievements
of the program being evaluated, both those that benefit direct and indirect stakeholders. Social
Return On Investment (SROI) analysis is a process of describing, measuring and reporting the
social, area and economic value generated by an organization based on cost-benefit analysis,
social accounting and social auditing (Lawlor et al 2008). The SROI method is a procedure that
links the stakeholders of a program to be evaluated in order to explore the various consequences
experienced after the program occurs. Through this stakeholder involvement, SROI produces
comprehensive analysis results and is easier to apply than other methods such as cost benefit
ratio or incremental ratio (Purwohedi 2016). The essence of a program will be said to be
successful if it can provide a positive change in the company's performance and also for the
beneficiaries. The SROI method has better reliability than other benchmarks because it is based
on actual business outputs and results and also supports the realization of the company's
sustainable development because each program will be measured for effectiveness by referring
to the impact generated after the program runs (Clark et al. 2004).
One industry that also conducts CSR programs is PT Catur Elang Perkasa. PT Catur
Elang Perkasa, a national private industry established in 1994, is engaged in the implementation
of national development, especially in the fields of EPC services, construction, repair and
maintenance, investment, as well as professionals from various disciplines. PT Catur Elang
Perkasa still strives to take part and contribute to the growth and improvement of the social life
of the surrounding community. PT Catur Elang Perkasa has established several active and
sustainable CSR programs in its immediate environment. One of the CSR programs implemented
by the company is the establishment of a Free Clinic which was established and has been
operating since 2006 and is located at Kantor Margasatwa, South Jakarta. Health is the main
support in the life of every human being. PT Catur Elang Perkasa is dedicated to make an active
contribution in maintaining the health of the surrounding community and also the employees by
establishing the Free Clinic.
Based on the background description of the problem, the researcher is interested in
conducting research on the Social Investment Impact Assessment of PT Catur Elang Perkasa
CSR Implementation Using the Social Return On Investment (SROI) Method.
Problem Formulation
The existence of a company should have a good impact on the community around the
company, especially on the level of welfare of the people's lives. Each company has different
standards and CSR programs. PT Catur Elang Perkasa is a company that has implemented a
good CSR program. As a form of maintaining harmonious relationships and contributing to
improving the quality of life of the community around the company's environment, PT Catur
Elang Perkasa established several active and sustainable CSR programs. One of the CSR
programs implemented by the company is the establishment of a Free Clinic which was
established and has been operating since 2006 located at the Wildlife Office, South Jakarta.
However, the company has not yet conducted social reporting on its CSR programs. Companies
need to have an understanding of the measurement and reporting of the social value of the CSR
program activities carried out so that the program can be assessed for its benefits/impacts. One of
the analytical tools that can be used in assessing the impact of CSR program implementation is
the Social Return On Investment (SROI) method.
Based on this, researchers feel it is important to know and analyze how the impact of
social investment on CSR programs at PT Catur Elang Perkasa with the following research
questions:
1. What are the results of measuring t h e SROI (Social Return On Investment) ratio of the CSR
program implemented by PT Catur Elang Perkasa?
2. What is the financial achievement value of the implementation of the CSR program
implemented by PT Catur Elang Perkasa?
Corporate Social Responsibility (CSR):
The World Business Council for Sustainable Development defines CSR as a form of
industrial cooperation with employees and citizens based on a commitment to contribute to
sustainable economic development (Hadi 2014). This definition shows that industrial social
responsibility or CSR is a form of action that departs from the ethical considerations of the
industry that aims to improve the economy for the sake of economic development (Hadi 2014) to
achieve the welfare of employees and residents around the industry. CSR is a new trend in
improving the company's image through social responsibility. Companies are required not only
to provide benefits to shareholders, but also to provide benefits to stakeholders such as
employees, customers, regulators, communities, and the media.
In Indonesia, the context of CSR is etymologically translated into Social and Environmental
Responsibility (CSR). The interpretation of TJSL derived from Law No. 40 of 2007 Article 1
Paragraph 3 on Limited Liability Companies is the company's commitment to participate in long-
term economic development to improve the quality of life and the environment, both for the
company itself, the local community, and the general public.
Corporate Social Responsibility for ISO 26000 (2010) means the responsibility of an
organization for the consequences of its decisions and activities on citizens and the environment,
which is manifested in a transparent and ethical manner that participates in the long-term
development, health and welfare of citizens, taking into account the expectations of stakeholders
and in line with compliance with applicable constitutional regulations and sustainable
international attitudes and norms that are integrated into all aspects of the organization.
According to Nasdian (2014), Corporate Social Responsibility functions more like industrial
business ethics, which are implemented into policies and programs to have a beneficial impact
on local residents economically, socially, and politically. Therefore, CSR must be treated as a
long-standing commitment from industry to be economically, socially, and ecologically
responsible to citizens, the environment, and stakeholders (Lako 2011).
Sustainable development is the goal of the existence of Social and Environmental
Responsibility activities with regard to economic, social and environmental balance. This is in
accordance with the Triple Bottom Line theory popularized by John Elkington in 1997.
According to (Wibisono 2007) in addition to paying attention to profitability (profit), companies
should also actively participate in realizing the vulnerability of the general public (people) and
participate in paying attention to and protecting the environment (planet).
Implementation of Corporate Social Responsibility (CSR):
ISO 26000 is a certification of the implementation of Corporate Social Responsibility that
must be implemented by industries or corporations. ISO 26000 is also expected to be used as a
bridge and standardization of various elements in CSR matters so as to reduce misconceptions in
the application of CSR (Kartini 2013). ISO 26000 provides voluntary standard guidelines on the
social responsibility of an institution that covers all zones of public and private entities in both
developed and developing countries. With ISO 26000, organizations want to add value to the
current social responsibility activities in the following ways, namely: 1) increasing agreement on
the interpretation of CSR (social and environmental responsibility) and its buzz; 2) providing
guidance on translating the fundamentals into an efficient application of activities; and 3)
selecting the best implementation procedures that have grown and spread for the welfare of
stakeholders and society in general. Social and Environmental Responsibility based on ISO
26000 consists of 7 key points, namely:
1. Improved community welfare
2. Customer
3. Good implementation of institutional activities
4. Region
5. Labor
6. Human rights
7. Government institutions
Furthermore, the provisions of ISO 26000 are as follows:
1. Helps the organization to take into account cultural, social, regional, legal and
developmental circumstances in the implementation of its responsibilities.
2. Provision of instant guidance related to social responsibility operations, identification of
stakeholders and commitments to their stakeholders and enhancement of the credibility of
reports related to the implementation of social responsibility.
3. Increased credibility and satisfaction, both within the organization, for customers and other
stakeholders.
4. Respect and not conflict with applicable regulations, international conventions and
agreements and ISO standards
5. Not used to change the position or authority of the government in the context of an
organization's social responsibility.
6. Formation of harmonized views on the interpretation of social responsibility
7. Raise awareness about social responsibility
8. Tax deductible expenses such as promotional expenses, scholarship, internship, and training
expenses, food and beverage coupon expenses for employees of certain criteria and regions,
waste treatment liabilities, reclamation cost reimbursement for the mining industry,
replanting cost reimbursement for the forestry industry, and closure and maintenance cost
reimbursement for the company's waste disposal containers for the company's waste
treatment industry.
Corporate Social Responsibility (CSR) programs implemented by companies or corporations
are basically a form of social, economic, and environmental responsibility around the production
area. The scope of the area that gets the implementation of the Corporate Social Responsibility
(CSR) program is generally to the area most affected by the establishment of the company or
corporation so that the determination of the area in implementing the Corporate Social
Responsibility (CSR) program must be right on target and according to the needs of the
community. According to Prayogo and Hilarius (2012), the scope of corporate responsibilities
and obligations, namely participating in the scope of the Ring 1, Ring 2, and Ring 3 work areas.
1. Ring 1 is defined as the local community in the nearest village area, and is considered as the
corporation's primary stakeholder. Not only that, the communities in Ring 1 are residents
whose interests are very much interrupted by the arrival and activities of the corporation and
are in direct contact with corporate activities.
2. Ring 2 are local residents who do not directly interact with industrial activities, but are
affected by the arrival and activities of the corporation both physically and socially. Usually,
local residents define Ring 2 as a community in another village located in the same sub-
district as Ring 1.
3. Ring 3, the arrival and activities of the corporation are actually no longer in direct contact
with the community in this area, but in order to form justice and equalization of citizens
together the corporation feels the need to include this area in CSR activities in a small
amount. Ring 3 can be referred to as residents who live in another sub-district near the
industrial sub-district, and therefore the CSR program received is the smallest in volume.
Corporate Social Responsibility Disclosure (CSR Disclosure):
CSR disclosure by Gray (2011) is defined as a process of providing data designed to raise
issues around social accountability in a distinctive way and this action can be accounted for in
media such as annual reports or in the form of socially oriented advertisements. O'Rourke states
that there are several measurement standards such as the Domini Social Index 400, ISO 14001,
AA 1000, Dow Jones Sustainability Index, OHSAS 18001, and Global Reporting Initiative
(GRI) guidelines. O'Rourke states that the GRI is the most reliable and most clearly described
measurement procedure overall and can be recognized and accepted by the global community
(O'Rourke 2004).
GRI guidelines are based on important information that should be shared by institutions. The
information covers several aspects, namely: economic, environmental, social, human rights,
community, and product responsibility. The latest GRI guideline is currently GRI G4 which
consists of economic, environmental, community, social, human rights and product
responsibility indicators. Each indicator has several aspect descriptions.
The industry's obligation to CSR does not necessarily end after CSR is implemented, but is
accompanied by disclosure of CSR implementation. It is very important for an industry to make
CSR disclosures because CSR disclosures also provide benefits in the form of an increase in the
industry's image, which will affect the stock price and sales level of the industry. In addition, the
disclosure of the implementation of corporate social responsibility in the form of a report can
also be used as a communication tool with shareholders and other stakeholders and as an
assessment material for the implementation of more prospective social responsibility programs in
the future.
The reporting of CSR programs in Indonesia is based on the standardization created by the
Global Reporting Intiatives (GRI). In 2000, GRI published sustainability reporting guidelines
that share guidelines on how to prepare a CSR report by looking at several important aspects in
it, namely economic, social, and area aspects. The GRI guidelines are broken down into 4
important points, namely:
1. Implementation of guidelines
Contains data that is a guideline, includes a description of who is required to use it and how
to prepare the report.
2. Reporting implementation basics
Contains the principles of implementing reporting activities and how to organize them.
3. Reporting core material
Contains outlook, tactics, form, structure, management approach and performance markers
(economy, social, environment).
4. Glossary and appendices
Social Return On Investment (SROI):
Social Return On Investment (SROI) is a method that can be used to measure business
returns from social activities carried out by companies. According to (Lingane A 2004) SROI
can be used to facilitate strategic conversations and help understand and optimize the social
valuation created by the program, help prioritize the right resources for managing unexpected
results, both positive and negative, show the importance of working with organizations and
people who participate in causing change, help to optimize social valuation by examining the
agreement between what the organization wants to achieve and what stakeholders want to
achieve, create a formal dialogue with stakeholders that allows them to be more involved and
valued for their role in the process of change to be achieved (Nicholls et al 2012).
Several countries in the European continent such as Australia, the United States, North
America and the United Kingdom have often adopted SROI analysis. However, on the Asian
continent, especially Indonesia, SROI analysis is still relatively new and has not been widely
applied (Purwohedi 2016). SROI is a work arrangement to measure the valuation of a perceived
benefit. SROI not only measures valuation, but SROI also seeks to overcome the problem of
inequality, environmental problems and increase vulnerability. Measurement is based on the
perceived impact, input / capital spent on the program / activity, where the source of the impact
and its consequences. The expected target of the SROI analysis results is to test the bond
between the input/capital spent and the effect it creates (Nicholls et al. 2009). SROI analysis has
advantages compared to other analytical tools where other analyses only focus on measuring
financial material valuation aspects that can be calculated directly because they are in the form of
nominal money. SROI relates the stakeholders of a program/project that is to be analyzed and
evaluated in order to find out the various consequences (outcomes) experienced after the activity
is completed. By linking the stakeholders of the activity, the SROI analysis aims to provide a
comprehensive analysis that is easier to apply than other analytical benchmarks such as the cost-
benefit ratio or incremental ratio (Purwohedi 2016).
SROI analysis can be conducted by companies to evaluate the effectiveness of their CSR
implementation. According to (Nicholls et al. 2009) there are two models of SROI analysis,
namely:
•
Evaluative
Evaluative SROI analysis is applied observationally from previous events and is based on
the facts of events t h a t ha ve o c c u r re d .
•
Forecast
Forecast analysis estimates how much social valuation will be created if the activity
conceived and planned at the beginning goes according to the expected expectations. Forecast
analysis is applied when designing an activity because it can show how to optimize investment
and show obstacles that must be overcome.
According to (Purwohedi 2016) there are 7 basics of applying the SROI method, namely:
1. Understand What Change is happening
Explaining what has changed and reviewing the facts that have been researched and
collected, recognizing that things have changed both positively and negatively or that were
planned from the beginning as well as things that were unexpected or unplanned. Value is
created by and for diverse stakeholders as a result of different types of change. This basis
requires a theory of the process by which these changes are created and must be recognized for
what they are and with the participation of those affected by the activity.
2. Involve Stakeholders of the Activity (Involve Stakeholders)
Stakeholders are parties or institutions that face a change due to the impact of an activity
as well as parties that are sources of information for data collection that will be used for the
description of changes that occur due to a program. This basis means that stakeholders need to
be identified and then included in discussions at all stages of the analysis, so that social
valuation, as well as the methods used for measurement, are disclosed transparently to those
affected by the activities implemented. Stakeholders should be included in recognizing what has
changed, what changes are significant and what the valuation of the changes is.
3. Value The Things That Matter
This third point focuses on the procedures for measuring the impact created by the
running of a program in units monetary (money) through a financial approach so that the value of
the results can be understood.
4. Only Include What is Material
Ensure the data and facts that must be included in the calculation in order to share a true
and fair reflection, so that stakeholders can conclude properly. This consists of the results of
decisions regarding stakeholders who have experienced real changes, based on the impact data
created. Examine matters that require materials/references based on procedures, other parties,
social values and material short-term financial consequences.
5. Do Not Overclaim
This point shares the procedure for only telling the values that an activity can actually
create. If the effects experienced are not only from the program being analyzed, but are also
based on the effects of other programs and parties, then only the participation of the program
being analyzed needs to be calculated. Measurements based on other aspects are needed for
comparison, as well as measuring the effects of these other aspects. This requires considering the
participation of other parties or institutions with the reported results in order to match the
participation of the parties to the results of the calculation of the impact of the program
implementation obtained.
6. Transparency (Be Transparent)
This point requires that any decisions related to the parties involved in the
implementation of the program, the impact measurement results obtained, markers and
benchmarks, sources and procedures for data collection must be communicated to the affected
parties.
7. Verify Result
SROI analysis must explore internationally accepted SROI protocols. This allows for the
same standards and quality of SROI results in different countries. While SROI analysis shares a
good space to master the evaluation of an activity, it always involves subjectivity. Verification is
needed to help stakeholders consider whether the evaluation was applied and analyzed correctly.
The following are the stages in the SROI analysis (Nicholls et al.
2012):
1. Establish scope scope and identify para stakeholders
(establishing scope and identifying stakeholders).
2. Mapping outcomes
3. Evidencing outcomes and giving them a value.
4. Establishing impact
5. Calculating SROI.
6. Reporting, using and embedding
Previous Research
There are several previous research materials that have been conducted by other
researchers. Previous research is very important as a basis for preparing this research.
Framework of Thought
PT Catur Elang Perkasa is a national private company established in 1994 and since then
the company has been engaged in several fields that contribute to the implementation of national
development, especially in the fields of construction services, EPC, investment, repair and
maintenance, as well as professionals from various disciplines. PT Catur Elang Perkasa
understands that the way that can be implemented to continue to be sustainable in its business is
to pay attention to The Triple Bottom Line or can be called the 3P's Concept namely Profit,
People, and Planet which is applied by implementing the Corporate Social Responsibility
program. PT Catur Elang Perkasa participates in the development and improvement of the social
welfare of local residents by establishing CSR programs, one of which is the establishment of an
active and sustainable free clinic in its immediate environment aimed at the surrounding
community in need and also company employees. This study aims to assess the social investment
impact of PT Catur Elang Perkasa's CSR implementation using the following tools Social Return
On Investment (SROI) method analysis. The results of this study are expected to help PT Catur
Elang Perkasa in the preparation of social responsibility reporting of the company's CSR
implementation and assist the company in evaluating the implementation of CSR programs that
have been running. The output generated from this research is also expected to be an input for
the preparation of the next CSR program implementation strategy in order to improve company
performance, realize the company's sustainable development and build a good image for the
company. The following framework can be seen in Figure 3.
Data Type and Source
Researchers use types and sources of data, namely primary data and secondary data.
Primary data is obtained from direct interviews with key informants and distributing
questionnaires to employees and the surrounding community. While the secondary data of this
study is financial input data obtained from documents provided by the company.
The data collection technique used interviews with questionnaire tools by asking a list of
questions that have been provided to be answered by respondents, namely employees and the
surrounding community who are patients of the company clinic (Appendix 2 and Appendix 3).
In-depth interviews were also conducted with company management, company clinic doctors,
and local RW heads (Appendix 4 and Appendix 5). The financial data was obtained from
financial documents provided by the company.
Location and Time of Research
The research was conducted at the company clinic and the environment around the
company PT Catur Elang Perkasa which is located at Jalan Margasatwa no. 111 Pondok Labu,
Cilandak, South Jakarta, DKI Jakarta by taking research objects, namely the surrounding
community who are patients of the company clinic, company management, company employees,
medical personnel, local RW heads, and financial data. The implementation time of this research
was conducted in February 2020-March 2020. Research documentation is presented in Appendix
6.
Sampling Method
The sampling method used in this study is non-probability sampling (non-random or
deliberate sampling), namely using purposive sampling method. According to Umar (2013)
purposive sampling is applied based on certain characteristics that are considered to have a
relationship with previously known population characteristics. Determination of the sample of
research subjects was carried out with certain considerations, namely on the condition that the
respondents were the surrounding community who were patients of the company clinic,
employees of PT Catur Elang Perkasa, management of PT Catur Elang Perkasa, medical
personnel of the company clinic, and local RW heads. The population of the surrounding
community who are patients of the company clinic is 102 people who are registered patients until
2019 and the number of employees of PT Catur Elang Perkasa is 58 employees. According to
Umar (2013) in determining the sample size, the opinion of experts is used, one of which is the
opinion of Slovin as follows:
Data Processing and Analysis Methods
In order to analyze the data and information collected during the implementation of this
research, measurements using the Social Return On Investment (SROI) analysis method were
used to measure the value of social returns obtained by the company from the investment it made
in the implementation of PT Catur Elang Perkasa's CSR program and assess the valuation of the
impact obtained by the relevant program stakeholders. The stages of the value measurement
process in this Social Return On Investment analysis consist of 6 stages of analysis as follows:
1. Define Scope and Identify Stakeholders
a. Defining the Scope
The scope in this study contains all the data information needed to analyze the
program/project that will be evaluated for the social value it creates. The scope will provide
a comprehensive summary of the characteristics of the program/project being evaluated to
those who will use the results of the analysis which will later take the form of an SROI
analysis report (Purwohedi 2016).
b. Identifying Stakeholders
The initial stage that should be carried out in analyzing program SROI is determining the
stakeholder groups that will be included in the SROI analysis data collection process or can
be referred to as the main program stakeholders. Stakeholder group These stakeholders will
be analyzed in detail about the benefits they feel as a result of the program. Each benefit felt
or impact created should be attributed to a particular beneficiary, because it is the basis for
determining the stakeholder group that will be included in the program's SROI analysis
(Purwohedi 2016).
2. Mapping Impacts
This stage is where mapping is done based on all the impacts created that have been
determined based on communication with the program stakeholder group. The impact map
includes an explanation of the use of inputs or resources used to run the program and how these
inputs produce several impacts resulting from the running of the program for each of the
program stakeholders. The impact map is an overview of the SROI analysis as a whole.
Information to compile the program impact map is collected from various relevant stakeholders
(Nicholls et al 2012). In this study, the impact created and determined is based on the data
collected from interviews with relevant stakeholders.
•
Input Identification
Inputs in carrying out the program SROI analysis, which means the resources used to carry out
the impact assessment analysis of the results of the program, consist of three types of inputs,
namely; money, goods and time (Nicholls et al 2012). Inputs for conducting the analysis are
determined from the results of interviews by relevant program key stakeholders.
•
Input Assessment
Calculating the valuation of program inputs in the form of materials and goods that can be
measured in nominal values can be done easily. As for measuring the valuation of time impacts,
it can be done by using an approach based on existing data sources (Nicholls et al 2012).
•
Output Classifier
Program output can be referred to as a summary of the results of the activities carried out in a
program where these results display an impact that can be immediately seen / felt from the
running of the program. The output of a program is determined by conducting evaluations, field
observations and conducting interviews and focus group discussions with relevant stakeholders
(Nicholls et al. 2012).
•
Describing the Impact Mapping Results
The last step in this second analysis stage is to describe the results of the impact mapping that
has been carried out and compiled based on the observations that have been made and also
determine what benefits/impacts are created from the running of the CSR program.
3. Proving an Impact and Giving it Value
After mapping and describing the outcomes for the relevant stakeholders, the development
of o u t c o m e indicators followed, and this session was conducted to collect evidence of the
outcomes created. The steps in this session are as follows:
•
Developing Outcome Indicators
After formalizing the effect to be analyzed, the next step is to prove the fact that the
effect is actually experienced by the beneficiaries. This fact is known as an indicator. An
outcome indicator is a condition or reality in the field that can be used as a basis for SROI users
that the change really exists. SROI also allows the use of subjective indicators. A subjective
outcome indicator is a marker that comes from the experience of a person or the opinion of a
person, which is then used as a reality for t h e formation of a change (self-reported indicator)
(Purwohedi 2016).
•
Collecting Impact Data
The process of gathering information for evaluative SROI analysis must be applied
carefully and the discussion must be sourced from the stakeholders of the activity. This stage
links the collection of information based on the performance markers that have been developed
in the initial step in this third session. Information must be sourced from communication by key
stakeholders related to value creation in this program. The method applied was to conduct
interviews using questionnaire tools.
•
Determining How Long the Impact Lasts
The duration of time referred to in this stage of the analysis is the period of time
estimated for the beneficiaries of a program to feel the impact of the program. The determination
of how long the impact lasts will be determined by discussions with stakeholders and notified as
fully as possible to stakeholders (Purwohedi 2016).
•
Assigning Impact Value
This process is a very important process in conducting an SROI analysis because the
nominal valuation of an effect is a uniqueness of the SROI method that other analytical
measurement tools do not have, but on the other hand it is also a challenge in carrying out an
SROI analysis. Each effect should have a financial proxy that is used to calculate the total effect
of a program.
According to (Purwohedi 2016) there are several approaches that can be applied in
conducting financial proxies on an impact:
• Cash Transactions
Financial proxies are measured based on how much the beneficiary stakeholder can
spend. This type of evaluation is a very practical type to use because it is very effective in
assessing how much money is earned or spent.
• Resource Allocation
Financial proxies are based on how much resources can be allocated to other expenses
created by the program to be measured by SROI.
• Known Preferences
Financial proxies are known at the time of carrying out information gathering and after
that are given a value referring to the market value.
• Preferences Expressed
Financial proxies are applied by asking how much stakeholders are willing to pay to get
a certain outcome.
The determination of financial proxies in this study was carried out with discussions with
company management and was determined based on market prices and assumptions using
approaches taken in conducting financial proxies.
4. Establishing Impact:
This section provides several methods to consider how the results of program activities are
analyzed. These procedures estimate how many effects a program has produced. This analysis
clarifies the outcomes as one result of an activity either directly or indirectly (Nicholls et al.
2012). The stages of impact mapping are as follows:
Deadweight:
Deadweight is a measure of the amount of impact that would have occurred even if the activity
had not occurred. Deadweight will be measured as a percentage and then the percentage of the
result is subtracted from the total amount of the result.
5. Calculating the SROI Ratio:
All data that has been obtained from the previous stages is used to calculate the SROI ratio.
This stage determines how to concisely present the financial information that has been sourced in
the previous stage. This stage is carried out to calculate the value of the financial achievements
of a social investment and the perceived benefits of a program. The following is how to calculate
the SROI ratio:
Calculating Net Present Value
NPV is the predicted future cash flow discounted at the present time. The present value of the
impact is calculated using the following formula (Nicholls et al 2012):
6. Reporting, Usage and Implementation
•
Reporting to Stakeholders
Stages to ensure that any results of the analysis are communicated transparently to parties related
to program implementation.
•
Usage SROI analysis results
Researchers who conduct SROI analysis ensure that the results of SROI analysis are used and
useful for SROI report users.
•
Guarantee
Assurance is the stage of verifying that the results of the SROI analysis have been carried out
based on the stages in accordance with the guidelines and also comply with the principles of
implementing the SROI analysis.
Company Overview
PT Catur Elang Perkasa is a national private company established in 1994 and is
engaged in the implementation of national development, especially in the business of EPC
services, construction, repair and maintenance, investment, as well as professionals from various
disciplines that vary. In contributing ideas and real work from the services entrusted, PT Catur
Elang Perkasa with ISO 9001: 2008 and OHSAS 18001: 2007 certification holds fast and
upholds the principles of professionalism and high dedication. PT Catur Elang Perkasa has more
than 22 years of experience in contributing to national development. PT Catur Elang Perkasa has
two offices located in Jakarta and Surabaya at Jl. Margasatwa no. 111 Pondok Labu, South
Jakarta 12450 and Jl. Baratajaya IV No. 74 Surabaya.
• Company Vision and Mission
Vision: To be a resilient, growing, and respected company in every field of business.
Mission: With all our heart:
1. Serving customer needs through high value-added products.
2. Generate sufficient profit for the growth of the Company and its Partners.
3. Improving the quality of life of its Stakeholders.
Overview of CSR Programs
PT Catur Elang Perkasa CSR is given directly from the company to the beneficiaries
without going through intermediaries from other institutions or agencies. PT Catur Elang
Perkasa' CSR program consists of a free clinic, the establishment of a free mosque, social
assistance to the surrounding community and also social assistance to victims affected by natural
disasters. The CSR program studied in this research is the Free Clinic of PT Catur Elang
Perkasa.
The Free Clinic was established and operated since 2006 and has 102 registered patients
from the surrounding community. Clinic operations are run by the company doctor and a helper.
Activities at the clinic include serving and maintaining the health of employees and providing
health services for the surrounding community in need. The programs carried out include weekly
free consultations, namely every Friday at 16.00-19.00 free treatment, hepatitis vaccine
injections for employees, and clinic medical waste treatment. The system of treatment at the
clinic is to bring a treatment card that has previously been registered with the company by
bringing a photocopy of KTP and Family Card then the patient waits for his turn to be called to
consult with a doctor about his health. One treatment card is valid for one family card. Until
now, the majority of people who are patients at the clinic come from RW 9, which is the area
around the office. The characteristics of the beneficiaries of the free clinic targeted by the
company are people who are classified as poor and the way to select the community is by getting
recommendations from the head of the RW and the head of the local RT. The source of funding
for this free clinic comes entirely from the company without any assistance and intervention
from other institutions or from the local government.
The reporting of this clinic program is reported to the HR manager, namely Mr. Aries
Fariady, then reported to the company's management, namely to the main director and external
parties who assess whether the clinic is running well, namely the K3 auditor and quality
management from various institutions that assess the quality of the company as a whole The
main purpose of establishing a clinic by the company is to improve the quality of life of its
stakeholders by providing benefits to the surrounding community so that the company's
credibility can increase. The results that the company wants to achieve are the health and welfare
of the community and employees. In addition to providing health services to the community and
employees, the company also organizes medical waste disposal for 3 months using the services
of PT Arah Enviromental Indonesia. The managing director acts as an advisor to the CSR
program, the finance director as the program's financial advisor, Ms. Atikah who is an HR staff
as the administrative manager of the clinic program, and Mr. Heri who is an HR staff as the
coordinator to external parties, namely to the community. Information about the existence of the
company's free clinic circulates in the community through mouth to mouth information
circulating around the community itself. HR staff often screen patient data, which includes the
patient's economic feasibility and whether the patient is still a community member around the
office and others. Every year the company targets that patient slots must increase by at least 10%
from the previous year's patient slots so that the number of beneficiaries can increase so as to
further improve the welfare of the surrounding community.
Social Return On Investment of PT Catur Elang Perkasa CSR program
1. Define Scope and Identify Stakeholders
a. Define the Scope of the Objective
The target that is expected to be achieved from the implementation of this SROI
analysis is to calculate the social return value of PT Catur Elang Perkasa's CSR program, namely
the Catur Elang Perkasa clinic from the investment
that
has been given by PT Catur
ElangPerkasa. This analysisis carried out to be expected to be an evaluation material for the
management of P T Catur Elang Perkasa and the HR and GA department of PT Catur Elang
Perkasa in carrying out its CSR program and also so that the company can better understand the
benefits of the social impact felt by the surrounding community for the free clinic established by
the company. so that can motivate company to further develop the Catur Elang
Perkasa Clinic CSR program. Analysis result also can help PT Chess Elang Perkasa in the
preparation of social responsibility reporting for CSR implementation.
Audience
The results obtained from the implementation of the analysis are used as a guide in the
process of assessing and evaluating the development of the Catur Elang Perkasa clinic CSR
program and also so that stakeholders can see the valuation of the impact created by the Catur
Elang Perkasa clinic program. The results of the analysis can also be used by management and
the HR and GA department of PT Catur Elang Perkasa to formulate CSR program programs that
will be carried out so that the company makes wise investments and can also assist companies in
preparing social responsibility reporting for CSR implementation.
Background
The background of this study is to analyze the impact of social investment and calculate
the social return value created from the Catur Elang Perkasa clinic CSR program. By conducting
this research, PT Catur Elang Perkasa can have a basis on the social values generated from the
investment given to the Catur Elang Perkasa clinic CSR program.
Resources
The data source of this research comes from interviews and FGDs with key people,
namely the management and HR and GA of PT Catur Elang Perkasa, interviews with doctors
and helper of the Catur Elang Perkasa clinic and also interviews with local RW heads and giving
questionnaires to the surrounding community and employees who are patients of the Catur Elang
P e r k a s a clinic. PT Catur Elang Perkasa also provides information in the form of financial
statements and some internal data required.
Implementation of SROI analysis:
This research was conducted by the researcher, Annisa Ayu Marsha, a final year student
of the Management Department of Bogor Agricultural University in order to carry out the final
thesis for the requirements of obtaining a Bachelor of Economics degree. The researcher was
assisted by stakeholders in understanding the field situation and was also guided by the
supervisor in carrying out the SROI analysis work. The certificate of implementation of the final
project research is presented in Appendix 7.
Activities that will be the focus:
This research focuses on the activities implemented by the CSR program of the Catur
Elang Perkasa clinic located at Jalan Margasatwa No.111 Pondok Labu, Cilandak, South Jakarta,
DKI Jakarta, Indonesia. The time period studied The time period studied for the SROI analysis
in this paper is 1 year, namely 2019 Is the analysis conducted a forecast or evaluation? The
SROI analysis carried out in this study is the Evaluation analysis. Evaluation analysis is an
analysis carried out on programs or projects that have been carried out or are currently running.
b. Identifying Key Stakeholders
During the research, researchers found different groups of stakeholders. There are
stakeholders who are directly affected by the implementation of the program and those who are
not. Key stakeholders are people who feel direct material changes as a result of the
implementation of the analyzed program/project while excluded stakeholders are those who do
not feel the benefits of changes directly from the running of the Catur Elang Perkasa clinic CSR
program.
The key stakeholder identification process was carried out by conducting initial
interviews with several stakeholders, namely the HR and GA Manager of PT Catur Elang
Perkasa, 3 HR and GA Staff of PT Catur Elang Perkasa, and the company doctor. In this
research, the main focus is the surrounding community who are patients of the Catur Elang
Perkasa clinic, employees, and also the local RW head. For the community and employees,
questionnaires were given and for the local RW chairman, direct interviews were conducted.
c. Deciding How to Involve Key Stakeholders
During the data collection process to conduct the SROI analysis, researchers used several
different methods for each key stakeholder which were adjusted to the field conditions. The
following are the methods of involving key stakeholders in this research:
Mapping Impacts:
In this section, an impact map is created starting from the process to the calculation of the
ratio. The analysis was conducted by involving stakeholders to ascertain whether an impact is
relevant. In mapping the impact, several key informants were involved, namely conducting
interviews with the manager of the HR and GA department, 2 HR and GA staff and the company
doctor. Based on the information obtained from key informants, a theory of change experienced
by key stakeholders can be made.
a.) Getting Started on the Impact Map
The impact map is a core worksheet that contains a systematic arrangement of the
analysis that has been carried out. The impact map contains all the data used in this analysis. The
impact map is used to distinguish the results of each stakeholder from the activities carried out.
The impact map contains a reflection of the results of the SROI analysis (Appendix 1).
b.) Identifying Inputs
The input in this SROI analysis is the cost of costs incurred as capital for the running of
this free clinic program, including the cost of purchasing medicines and medical devices, the cost
of medical personnel salaries, the cost of purchasing hepatitis vaccines, the cost of waste
treatment services, electricity and water costs.
c.) Assessing Inputs
Input is the cost of costs incurred as capital for running the program. The inputs issued by
PT Catur Elang Perkasa will be valued. Input valuation is the process of converting these inputs
to a monetary value. The input valuation is done using secondary data provided from the
company's finance department. The input valuation is calculated with a time unit of one year.
d.) Clarifying Output
Output shows an impact that can be immediately seen/felt from the existence of a program.
Output is a summary of the activities carried out and is expressed in numerical form. From the
analysis that has been done The outputs of the activities carried out in the Free Clinic program
include the following (Table 11) :
e.) Describing Outcome
SROI is a method that aims to focus on stakeholders at every stage of the process. The
benefits resulting from the implementation of the company's CSR program are analyzed through
the results of discussions with key stakeholders about the changes and benefits they feel from the
running of the program. The following is the determination of the impact of the activities carried
out by the Chess Elang Perkasa free clinic program (Table 12).
Proving an Impact and Giving it Value
At this stage, the analysis carried out is to determine the indicators of the impact created.
The indicator is for determining the value of the impact.
Developing Outcome Indicators:
At this stage, the facts are presented if the resulting effects are really created and
experienced by the stakeholders. This fact in the SROI analysis is pronounced as an indicator.
Indicators are methods used to prove the changes that have been created. Indicators are needed to
nest something of the impact produced and how much. Indicators can be subjective or objective.
Subjective indicators are markers that come from the experience of a person or the opinion of a
person who is used as the reality of the formation of change. In this analysis, the indicators used
are subjective indicators because the markers come from the experiences and statements of the
community and employees expressed through the questionnaires distributed. Objective indicators
are also used, such as data on the number of patients at Catur Elang Perkasa clinic and the
number of people employed as medical personnel at Catur Elang Perkasa clinic. The following
table explains the indicators of each impact felt by stakeholders. (Table 13)
d. Collecting Impact Data
Data were collected through questionnaires and interviews. Direct interviews were
conducted with company management, medical personnel, and RW heads. The community was
given a questionnaire which was guided by the researcher and the employees were given a
questionnaire containing short questions.
e. Determining How Long the Impact Lasts
In the SROI guidebook, the maximum time duration specified for an impact in the
analysis is five years and the minimum is one year (Nicholls et al 2009). The impact in this study
lasted for one year and was calculated with a duration of one year.
f. Assigning Impact Value
At this stage, an assessment of the resulting impact is carried out, namely giving a
monetary value to each impact that occurs. This assessment is done using financial proxies or
financial forecasting. This financial forecasting is one of the advantages of SROI that is not
owned by other analytical tools. The determination of financial forecasting is carried out by
referring to the approach method according to Purwohedi (2016) which can be used to determine
the nominal unit of impact. The determination of financial proxies in this study was carried out
with discussions with company management and determined based on market prices and
assumptions using approaches taken in conducting financial proxies.
• Improvement of the Company's Good Reputation:
To assess the impact of increasing the company's good reputation, it is assessed using the
stated preference approach method. To increase public awareness of the free clinic program, the
company can do other ways, namely by gathering the community by holding seminars and events
inform about the program. The data used in this financial forecasting is the cost of holding a
seminar for 102 participants where it is assumed that the information received by 102 patients of
the company's clinic is equivalent to holding a seminar with 102 participants to convey
information and the costs incurred to hold a seminar refer to the market value in the local area.
The assumption of costs incurred by holding a seminar with 102 participants is a seminar fee of
Rp150 000 per participant, event space rental costs at Metropolitan Tower, Cilandak, South
Jakarta at a cost of Rp1 500 000 per room with a capacity of 60 people and snack box
consumption in the Pondok Labu area, namely at Royal Snack Box at a cost of Rp20 500 / box.
The total financial proxy value for the impact of improving the company's good reputation is
$1.900
• Avoid hepatitis:
To assess the impact of avoiding hepatitis disease, it was assessed using the cash transaction
approach method. The determination of this financial forecasting is based on the costs that must
be incurred by beneficiaries if they do not receive hepatitis vaccine injections from the company
clinic. The data used is the cost of hepatitis immunization for adults at Prikasih Pondok Labu
Hospital, South Jakarta, which is IDR 115 000 per injection with the assumption that each
beneficiary receives a vaccine injection for 3 injections per 6 months in a year. The total
financial proxy value for the impact of avoiding hepatitis disease is $1.000
• Helping the family economy:
To assess the impact of helping the family economy, it was assessed using the preference
approach method, which was known during data collection. The data used was the cost of
transportation using a go car from the local area (calculated from the company address) to RS
Prikasih Pondok Labu, South Jakarta, which is the closest hospital that is often used by
beneficiaries as an alternative health facility besides the Catur Elang Perkasa clinic. The cost
incurred for one trip is IDR 36 000 for a round trip. The assessment was carried out with the
assumption that each beneficiary goes to the hospital once a week in a year like the operating
schedule of the Catur Elang Perkasa clinic. The total financial proxy value for the impact of
helping the family economy of 51 community respondents who are clinic patients based on the
list of family cards registered with the company until 2019
• Improved health
To assess the impact of increased health, the cash transaction approach was used. The
determination of this financial forecasting is based on the costs that must be incurred by
beneficiaries if they do not receive free consultations with doctors from the company clinic. The
data used is the cost of consulting a general practitioner at RS Prikasih Pondok Labu, South
Jakarta, which is Rp110 000 per patient for one consultation with a doctor. The assessment was
carried out with the assumption that per beneficiaries receive a doctor's consultation once a week
in a year as per the doctor's practice schedule at the Catur Elang Perkasa clinic. The total
financial proxy value for the impact of increased health for 51 community respondents who are
patients of the company clinic is IDR 264 000 000.
• Healed of disease
To assess the impact of cured diseases, the cash transaction approach was used. The
determination of this financial forecasting is based on the costs that must be incurred by
beneficiaries if they do not receive free treatment from the company clinic. The costs used are
the costs of purchasing medicines from diseases that are often experienced by people who are
patients of the Catur Elang Perkasa clinic, whose information is known from filling out
questionnaires by the community. The assessment was carried out by asking the necessary
medicines with the company doctor and finding out the price of medicines through the Halodoc
application which was adjusted to the location of the area around the company. The assessment
was carried out with the assumption of calculating the need for drugs according to the diseases
suffered by the community from the results of filling out the questionnaire multiplied by the
number of patients for drug use during the year period. The total financial proxy value for the
impact of cured diseases is Rp260 390 000.
• Reduce environmental pollution
To assess the impact of reducing environmental pollution is assessed using the stated
preference approach method. The company conducts medical waste treatment by using medical
waste treatment services from PT Arah Enviromental Indonesia. The cost used is the cost of
waste treatment services with 4 services a year. The total financial proxy value for the impact of
reducing environmental pollution is IDR 2,200,000.
• Labor absorption
To assess the impact of employment, it was assessed using the stated preference approach
method. The medical personnel employed by the company amounted to two people, namely one
doctor and one helper. The cost used is the salary cost of medical personnel for a year. The total
financial proxy value for the impact of employment is Rp96 720 132.
2. Establishing Impact
At this stage, the impact evaluation is carried out in accordance with the SROI principle
of do not overclaim. This principle provides guidance to only tell the value that an activity can
really create. If the impact experienced is caused not only by the program being evaluated, but
by other programs, then only the attribution of the program being analyzed needs to be
calculated. Basically, this step is to make sure that the impact value that has been determined is
not too large and really reflects the true value (Nicholls et al. 2012).
a. Deadweight
Deadweight is a measure of the amount of impact that would have occurred even if the
activity had not occurred. Deadweight will be measured as a percentage and then the percentage
of the result is subtracted from the total amount of the result. The deadweight for impact in this
study is 50% for the impact of improving the company's good reputation, 0% for the impact of
avoiding hepatitis disease, 50% for the impact of helping the family economy, 50% for the
impact of improving health, 50% for the impact of being cured of disease, 75% f o r t h e
i m p a ct of reducing environmental pollution, and 75% for the impact of employment. The
determination of deadweight in this study is based on the results of field surveys conducted
during data collection and through the results of questionnaires and interviews with stakeholders.
b. Attribution
Attribution is an assessment of how much of the impact is due to contributions from other
programs or other parties. Attribution is calculated as a percentage (the proportion of results that
are due to the program). Attribution for impact in this research is 0% for the impact of increasing
the company's good reputation, 0% for the impact of avoiding hepatitis disease, 0% for the
impact of helping the family economy, 0% for the impact of improving health, 25% for the
impact of being cured of disease, 25% for the impact of reducing environmental pollution, and
50% for the impact of employment. The determination of attribution in this study is based on the
results of field surveys conducted during data collection and through the results of questionnaires
and interviews with stakeholders.
c. Calculating Impact Value
At this stage, the impact value calculation is carried out. The step taken to calculate the
impact value is to use the formula (1-deadweight)x(1-attribution)x(Value financial proxy
impact) per impact generated.
3. Calculating the SROI Ratio
The SROI calculation is done using the impact map spreadsheet. (Appendix 1)
a. Calculating Net Present Value (NPV)
NPV is calculated using the Bank Indonesia Discount Rate of 5% (following the use of the
BI- 7 day Repo Rate as of December 19, 2019). The result of the NPV is Rp294 085 968. The
calculation was done using excel impact map spreadsheet. (Appendix 1).
b. Calculating the Ratio
The SROI ratio is calculated by dividing the Net Present Value Of Benefit
with the total input value.
The final result of this SROI calculation is 1.56:1, which means that for every Rp1 invested
by the company, it will produce social value in the form of benefits felt by its stakeholders of
Rp1.56. The results of this calculation state that PT Catur Elang Perkasa's free clinic CSR
implementation program has succeeded well in providing benefits that are quite impactful for its
stakeholders because it has a positive SROI ratio. The benefits in this analysis will last for one
year. The company's investment input to the PT Catur Elang Perkasa free clinic CSR
implementation program of Rp188 485 432 has resulted in a financial achievement value of
Rp294 037 274.
4. Reporting, Usage and Implementation
a. Reporting to Stakeholders
It is important to report the results of the analysis to stakeholders. Communicating the results
of the analysis is carried out to ensure that stakeholders recognize and understand the benefits
they get and how much. The form of reporting carried out is in the form of submitting the thesis
research results to the management of PT Catur Elang Perkasa to become an evaluation material
for the implementation of the company's free clinic CSR program in the future.
b. Using Results
This research report can be used as an evaluation material in developing the Catur Elang
Perkasa clinic CSR program and also so that stakeholders can see the valuation of the impact
created by the Catur Elang Perkasa clinic program. The results of the analysis can also be used
by management and the HR and GA department of PT Catur Elang Perkasa to formulate CSR
program programs that will be carried out so that the company makes wise investments and can
also assist companies in preparing social responsibility reporting on CSR implementation. This
research report can be a source of information for the beneficiaries of the Catur Elang Perkasa
free clinic CSR program to find out how the benefits they feel and how much.
c. Application
The SROI analysis in this study was conducted according to the SROI principles and stages of
analysis in the SROI calculation guidebook "A guide to Social Return on Investment" (Nicholls
et al. 2012).
Managerial Implications
The results of this study show that the impact of reducing environmental pollution and
increasing company reputation is the least percentage impact in this study. To overcome this, PT
Catur Elang Perkasa can organize other health programs for the surrounding community such as
health counseling programs that are routinely held in residential areas and also waste
management programs for the surrounding community to further increase public awareness of
PT Catur Elang Perkasa so that it can increase the impact of increasing the company's good
reputation while reducing environmental pollution. In addition, PT Catur Elang Perkasa can also
strengthen the publication of CSR implementation programs among the media in order to better
convey information to the wider community.
The highest impact created by the implementation of CSR programs is to improve public
health, therefore to increase the impact value, company management can continue to improve the
performance of the PT Catur Elang Perkasa free clinic program and improve services at the
clinic by increasing the operational schedule of the Catur Elang Perkasa clinic to more than once
a week and increasing the employment of workers employed at the Catur Elang Perkasa clinic so
as to further increase the benefits felt by the surrounding community.
This research report can be used by the management of PT Catur Elang Perkasa as an
evaluation material in developing the Catur Elang Perkasa clinic CSR program and also so that
stakeholders can see the value of the impact created by the Catur Elang Perkasa clinic program.
The results of the analysis can also be used by the management and HR and GA department of
PT Catur Elang Perkasa to formulate what CSR program programs will be carried out in the
future so that the company can make wise investments and can also assist companies in
preparing social responsibility reporting for CSR implementation. This research report can be a
source of information for the beneficiaries of the Catur Elang Perkasa free clinic CSR program to
find out how the benefits they feel and how much.
Conclusion:
The final result of this study obtained an SROI ratio of 1.56: 1, which means that every
Rp1 invested by PT Catur Elang Perkasa in the CSR implementation program of the Catur Elang
Perkasa free clinic will create a social return value of Rp1.56 as a benefit for the program's social
investment. This means that PT Catur Elang Perkasa has succeeded in creating a social impact
that provides benefits to its stakeholders because it has produced a positive SROI ratio. The
results of this study also state that the company's investment in the company's free clinic CSR
implementation program is an investment that should be maintained and continued to be
developed. The implemented program has produced seven impacts, namely: improvement of the
company's good reputation, avoidance of hepatitis disease, helping the family economy,
improved health, cured from disease, reduced environmental pollution, and employment. Of the
total impacts generated, 42.75% was absorbed by the impact of improving health, 31.62% was
absorbed by the impact of being cured of disease, 14.03% was absorbed by the impact of helping
the family economy, 4.25% was absorbed by the impact of avoiding hepatitis, 3.92% was
absorbed by the impact of labor absorption, 3.3% was absorbed b y t h e i m p a c t o f
improving the company's good reputation, and 0.13% was absorbed by the impact of reducing
environmental pollution. The company's investment input to the PT Catur Elang Perkasa free
clinic CSR implementation program of Rp188 485 432 has resulted in a financial achievement
value of Rp294 037 274.
