You asked, so I’ll answer – What is social value?
Social value describes the wider social, economic and environmental benefits that derive from an organisation’s work or from the commissioning of services or the purchasing of goods.
Social value is focused on getting more value from the money we spend. It enables us to maximise the positive impact our work and procurement has on local communities, people and the environment.
Social values asks the question, ‘If £1 is spent on the delivery of services or the purchasing of goods can that same £1 be used to also produce a wider benefit to the community?’
We can help you with:
- Developing your social value strategy and/or procurement frameworks to maximise your social impact
- Creating processes and sharing knowledge so you can manage your impact to continually improve and generate more impact
- The development of your data collection systems so you can report on your impact and social value
- Identification of the financial proxies for Social Return on Investment calculations
- Preparation of Social Return on Investment (SROI) reports and/or Social Impact Reports
- Training and support for staff to implement social impact reporting
- Continually improve your support and services by increasing the impact your services have and identify areas where you’re not performing so well so you can make changes