> Posted by Center Staff
As the microfinance industry works to make clients central to their mission and practice, the value of guidelines for Social Performance Management (SPM) becomes ever-more apparent. The Social Performance Task Force (SPTF) is addressing this need by developing standards that can be used by microfinance institutions, associations, networks, and all stakeholders to assess and improve efforts in SPM – and your input is needed!
The current version of the “Universal Standards for Social Performance Management” was developed through broad industry consultation and is composed of six sections:
1. Define Target Clients and Monitor Social Goals;
2. Ensure Board, Management, and Employee Commitment to Social Performance;
3. Treat Clients Responsibly;
4. Design Products, Services, Delivery Models and Channels That Meet Clients’ Needs and Preferences;
5. Treat Employees Responsibly; and
6. Balance Financial and Social Performance
Compliance with the standards signifies a strong commitment to the double bottom line and social performance.
SPTF is currently holding a public comment period to gain insightful input from the microfinance industry on the development of the Standards. The comment period will run from now until 12pm EDT, Monday May 14, 2012. At the close of the comment period, SPTF will revise the Standards to reflect the feedback. It will release the final version in early June.
Have you read?