Media Release: Atira Property Management obtains three-fold social return on investment
October 30, 2013
Download the media release, APMI Social Return on Investment Report and the APMI Social Return On Investment Fact Sheet at the bottom of the page.
Vancouver, BC – A report produced by Ernst & Young, released today, confirms that hiring people from the Downtown Eastside benefits taxpayers at a rate of more than three to one.
Analysis conducted by Ernst & Young shows that, for every dollar spent to employ a target employee group of 105 employees in 2012/2013, Atira Property Management Inc. (APMI) has realized a social return on investment (ROI) of $3.32.
“We knew that our employment strategy was making an economic impact on community, but were not able to quantify how much – until now,” says Janice Abbott, CEO of APMI. “Ernst & Young’s analysis shows conclusively that hiring employees from our target employee group not only creates a significant financial return on investment for stakeholders like ourselves, the Downtown Eastside community and the government, but also a strong social return. And, by partnering with an international firm like Ernst & Young, we’ve been able to take advantage of a credible economic model to calculate social ROI.”
Atira’s target employee group includes individuals who meet one of the following criteria: a resident of Vancouver’s Downtown Eastside, unemployed or underemployed, receiving government income assistance and/or living in Single Room Accommodation (SRA) hotel.
“The report also validates our long-held belief that people in our community want to work,” says Abbott. “They have something to contribute and want the chance to prove it.”
Ernst & Young arrived at its results through measurement and analysis of the qualitative and quantitative costs of hiring individuals from APMI’s target employee group, and impacts on social assistance, local spending, social housing, criminal justice costs, health costs, and food banks and meal programs. They also considered other factors such as employability and job skills and quality of life. Ernst & Young’s full report can be found at www.atira.ca.
Atira Property Management Inc. (APMI) is a socially responsible firm offering personalized, client-focused property management solutions in Greater Vancouver, and an opportunity for clients to give back to the community. As a social purpose, for-profit business, APMI is wholly owned by Atira Women's Resource Society. All of APMI’s profits are donated to the Society and are used to fund transition housing and support services for women and children fleeing violence and abuse. APMI’s goal is to offer excellent service to the community while reducing reliance on government funding.
Madelaine Hatch for Boldt Communications Inc.
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