Calculating Our Social Impact
Published: 11/11/24
Updated: 01/03/25
How do we measure our positive impact on people and communities?
At Veris Residential, we believe in comprehensive assessment of our business practices across three key areas sustainability and resilience, community impact and organizational excellence.
While sustainability metrics (carbon emissions, water usage) and organizational performance (management effectiveness, operational stability) are relatively straightforward to measure, quantifying our social and community impact requires more nuanced approaches. Here’s how Veris Residential evaluates our community performance:
Understanding Stakeholder Impact
Employee Well-being
- Anonymous surveys through Great Places to Work
- Benefits package valuation
- Training hour tracking
- Workforce diversity metrics through voluntary self-identification
- Additional PTO through three dedicated Charity Days
Supplier Relationships
- Comprehensive Human Rights Policy and Supplier Code of Conduct
- Supplier Diversity Program supporting minority and women-owned businesses
- Risk assessment through supplier procurement platforms
Resident Satisfaction
Research shows 38% of consumers choose companies that align with their values. We maintain resident trust through:
- Move-in surveys
- Pre-lease-renewal feedback
- Post-maintenance evaluations
- WELL certifications for health, safety and equity
Community Investment
- Investment in public infrastructure (schools, parks, fire stations)
- Local supplier and employee hiring rates
- Charitable partnerships with organizations like St. Jude Children’s Hospital and Ecologi
- Volunteer hours and donations
Measurement Framework
Our impact assessment relies on:
- Baseline Data Collection
- Establishing initial metrics across all categories
- Regular monitoring of progress
- Third-party verification when possible
- Stakeholder Engagement
- Regular feedback collection
- Transparent communication
- Responsive action plans
- Certification Standards
- WELL Health-Safety Ratings
- WELL Equity Ratings
- Industry-specific benchmarks
- Community Integration
- Local partnership development
- Infrastructure investment
- Economic impact assessment
While quantifying community impact presents unique challenges, Veris Residential remains committed to meaningful measurement and continuous improvement. Our comprehensive approach ensures we maintain positive relationships with all stakeholders while contributing to thriving, sustainable communities.
Want to learn more about our commitment to responsible business practices? Visit verisresidential.com for detailed information about our sustainability, community and organizational initiatives.
