Net number of new, full-time equivalent employees working for enterprises financed or supported by the organization during the reporting period.
Many organizations select the beginning of the reporting period as the time when the organization began its support or investment.
Organizations should footnote all assumptions used. Organizations that report data for more than one reporting period should be careful to very clearly footnote which they are using for this metric. See usage guidance for further information.
This metric is intended to capture jobs created at supported organizations during the reporting period. Organizations are encouraged to use this metric with Jobs Type (OD0660) to enable disaggregation of these data by key aspects.
Organizations may choose to disclose employment by function (for example, operations and maintenance, construction, or land conservation). To align to the HIPSO (Harmonized Indicators for Private Sector Operations) indicator Direct Jobs Created by the Investment (Operations and Maintenance), organizations should include under Jobs Type (OD0660) only the options, “Hiring: Jobs hired through organization itself” and “Hiring: Jobs hired/supported through a third-party and directly related to the organization’s operations and maintenance of company.”
The three metrics for jobs at supported/financed enterprises relate to one another, as follows. Jobs Maintained at Directly Supported/Financed Enterprises: Total (PI5691) and Jobs Created at Directly Supported/Financed Enterprises: Total (PI3687) sum to Jobs in Directly Supported/Financed Enterprises (PI4874). For example, if an investor provided a loan to a small business that had 10 employees at the time the loan was provided and 15 employees as of the end of the reporting period, Jobs Created at Directly Supported/Financed Enterprises: Total (PI3687) would be 5; Jobs in Directly Supported/Financed Enterprises (PI4874) would be 15; and Jobs Maintained at Directly Supported/Financed Enterprises: Total (PI5691) would be 10.
Direct jobs in the context of this metric are defined according to the scope of the project (for instance, jobs created at a company that receives investment), following project logic and objectives. For some types of financial intermediaries, organizations should footnote a clear definition of direct jobs. For instance, if measured using a capacity-building approach, direct jobs supported are identified at the direct, operational level. If defined using an economic impact approach, direct jobs supported are identified at the level of the final beneficiary (e.g., SMEs or investees).
While this metric requests data on full-time equivalents (FTE), organizations are encouraged to break down these data for full- and part-time positions supported/financed. Most companies break down their headcount into full- and part-time positions, which investors often translate into FTE. For translation from headcount to FTE, organizations should refer to the following guidance, as well as the IRIS glossary term on full-time equivalent. In brief, in calculating the number of full-time equivalent jobs, part-time jobs should be converted to full-time equivalent jobs on a pro rata basis, following local definitions (for example, if the standard working week equals 40 hours, a 20-hour-per-week job would be 0.5 FTE). Both full- and part-time jobs should be calculated based on the number employed as of the end of the reporting period. Seasonal or short-term jobs should be prorated based on the time worked during the reporting period. (For example, a full-time position for three months at any point during the reporting period would be 0.25 FTE.) If information about hours is not available, organizations may equate two part-time jobs to one full-time job for this calculation. Note that, in the United States, the U.S. Treasury Department defines a working week as 35 hours.
If there is significant seasonal variation in the number of workers, organizations are encouraged to average the number of FTEs over the reporting period for temporary workers, using the FTE calculation above. Where companies employ piece-rate workers, consider the headcount of the number of workers paid piece-rate and estimate the proportion of FTE represented by that category of workers (e.g., if there are 200 piece-rate workers on site each day for 6 months of the year, then FTE = 200 x 6/12 = 100). Similarly, if an organization has many workers on variable hours or contracts, including day laborers, organizations are encouraged to include the average number of workers on a typical day (total over 24 hours, if shift work), as well as the proportion of the year those employees are working.
Organizations are encouraged to report other job-related metrics to assess the quality of jobs created. Examples of these include Worker Safety Policy (018001), Employment Benefits (OI2742), Employees Trained (OI4229), Flexible Work Arrangements (OI7983), and Employees: Minimum Wage (OI5858).
This metric is multi-dimensional with regard to the five dimensions of impact. In some contexts, this metric can serve as an indicator of whether the outcome being sought by an investor or organization is occurring (the WHAT dimension of impact). This metric may also help measure the HOW MUCH Scale dimension, which helps estimate the number of the targeted stakeholders experiencing the outcome. For more on the alignment of IRIS metrics to the five dimensions of impact, see IRIS+ and the Five Dimensions of Impact (https://iris.thegiin.org/document/iris-and-the-five-dimensions/). No single metric is sufficient to understand an impact; rather, metrics are selected as a set across all dimensions of impact. When possible, the selection of metrics to measure and describe the five dimensions should be based on best practice and evidence.
This metric has 1 related submetrics.
Metrics identified as "cross-category" are those that are relevant to any IRIS+ Impact Category or Impact Theme (i.e., these metrics are not specific to any particular industry/category or theme).
Jobs Created at Directly Supported/Financed Enterprises: Total (PI3687) and Jobs Type (OD0660) are both required for Direct Jobs Created by the Investment (Operations and Maintenance).
Alignment comments: Alignment to the JII indicator requires using IRIS metrics Jobs Created at Directly Supported/Financed Enterprises: Total (PI3687) and Jobs Type (OD0660). Refer to each metric's usage guidance for details.
JII definition: Number of new full-time equivalent workers, as per local definition, that are hired as a direct consequence of the investment project implementation during the reporting period (see guidance). This includes individuals hired directly and individuals hired through third party agencies, as long as those individuals provide services related to the operations and maintenance of the investment project. This also includes new full-time equivalent work by seasonal, contractual and part-time workers. Existing workers on the records of the client company prior to the investment project are not to be included in this indicator, except where the base case establishes that existing jobs are terminating without the investment project.
June 2022 - IRIS v5.3 Released (current version)
Immaterial change. Minor revisions to definition and usage guidance for clarity.
May 2021 - IRIS v5.2 Released
Immaterial change. Minor revision to usage guidance for clarity.
January 2020 - IRIS v5.1 Released
Immaterial change. Minor revision to Usage Guidance and definition for clarity.
May 2019 - IRIS v5.0 Released
Immaterial change. Usage guidance updated to incorporate reference to other related metrics which can be helpful to assess whether jobs are considered decent jobs.
March 2016 - IRIS v4.0 Released
Material change. Metric definition language modified to clarify time horizon for measurement.
March 2014 - IRIS v3.0 Released
Material change. Jobs Created at Directly Supported/Financed Enterprises: Total (PI3687) replaced Jobs Created (In Financed Enterprises) (PI3687). Metric name and definition language modified to provide clarity.
November 2011 - IRIS v2.2 Released
No change.
February 2011 - IRIS v2.1 Released
No change.
September 2010 - IRIS v2.0 Released
Immaterial change. Jobs Created (In Financed Enterprises) (PI3687) replaced Indirect Jobs: Number (A10.1). IRIS ID / metric name changed due to framework upgrade. Minor revision to definition language for clarity.
September 2009 - IRIS v1.0 Released
New metric. Indirect Jobs: Numbers (A10.1) was developed via the Original IRIS Working Group.
IRIS Metrics Work Better in Sets
To use IRIS metrics—and the resulting data—to understand impact performance, IRIS metrics should be used and analyzed in generally accepted sets and according to well-defined objectives. IRIS+ gives you access to generally accepted Core Metrics Sets aligned to common Impact Themes and Sustainable Development Goals (SDGs).