Amidst urgent global challenges, ranging from social injustice to environmental sustainability, organizations are increasingly recognizing their responsibility and accountability beyond mere financial outcomes. Employing social impact measurement and valuation methods emerges as a promising solution for organizations in navigating strategic alignment, stakeholder orientation, and legitimization. Yet, organizations face challenges in grasping and measuring their impact, selecting and employing established methods, and defining a common currency. To address these challenges, we provide an overview in the existing approaches to organizational social impact measurement and valuation and on how their operationalization is discussed by researchers. Through a systematic review using the PRISMA framework, we assess 26 articles, identifying a fragmented research landscape on organizational social impact measurement and valuation, with methodological variances, lacking consistency and transparency in measurement, a predominant focus on output-level measurement, and insufficient method development and refinement for social impact valuation. We amplify research on organizational social impact measurement and valuation by offering insights regarding measurement operationalization, particularly on the indicator level, and emphasize the need for transparent operationalization. We contribute to the state of research on social impact valuation and point out various methodological and moral implications arise from valuating organizational social outcomes and impact that offer potentials for further research.
