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Measuring what is important to people, beyond profit

For some people, social value stems from their experiences at home or at work. It may be related to satisfaction from the time they spend with family or feeling refreshed after they take in deep breaths of fresh air during a stroll in the countryside.

If you use a country lane each day to work, the lane has social value to you and others. Should an organisation then choose to build near it or on it, it would have an impact on you if you were not able to enjoy your walk to work or to get to work as easily, and if you were made to feel less safe or more stressed because of this.

All of these aspects of our lives, things that we experience day to day, have an impact on our overall wellbeing. Our wellbeing is impacted by things like our health, our relationships, what we do for work, where we live, our personal finances, our education and skills, our natural world, economic changes, how we govern our societies, and our own understanding of how we are.

Social value measurement tries to understand and record the relative importance we place on the wellbeing changes we experience. It helps to inform better decision-making to increase positive change, and decrease the negative.

At Social Value UK, we provide support, training and assurance for developing approaches to measuring and understanding social value, so organisations can make better-informed decisions to improve wellbeing for all materially affected peoples.

A business can understand the impact of its choices and a local authority can assess the pros and cons of a proposed idea or contract. It becomes easier to assess different risks and opportunities.

It is important to avoid tick boxing when it comes to social value. For true social value, we must involve people, from customers/services users, employees, to the wider community who are affected. We must listen to them, believe them, and be accountable for responding to what we hear.

Using rich data is the only way to truly reflect social value, because a tick box exercise can be easily manipulated.

In short, social value measurement goes beyond financial or economic value and tries to capture social impact in the round.

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What is Social Value? Social value definition and meanings

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Social value is the quantification of the relative importance that people place on the changes they experience in their lives. Find out more here at Social Value.

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Access Webinar - Delivering social value through public sector procurement - CCS

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HOW?

diversifying your supply chains

increasing opportunities for local suppliers

creating apprenticeships

reducing carbon emissions

promoting equality and diversity

ensuring your supply chains are free from modern slavery

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4 Main headings

1. Apprenticeships

2. Local supply chain

3. SME training and support

4. Environmental issues

OR

3 Main headings

Economy
apprenticeships
targeted recruitment
SME support
training & development for staff

Social
volunteering
supporting charities
fundraising
community initiatives

Environment
Co2
single use plastics
recycling
local supply chain
travel costs

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Every contract the public sector signs is an opportunity to make society better, fairer and greener. Pixel need to maximise social value in bids & procurement process.

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USE £ to show competence of Pixel.
Targets & Aspirations
How it will improve the client
Does it link to client targets?

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Social Value Act: information and resources

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The Public Services (Social Value) Act came into force on 31 January 2013. It requires people who commission public services to think about how they can also secure wider social, economic and environmental benefits.

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What is social value? - Social Value Portal

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What is social value? Learn how your business can join the social value movement and measure your impact with Social Value Portal.

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Social Value is about the wellbeing of current and future generations and covers three different areas:

Social - the wellbeing of individuals and communities.

Economic - putting in place economic policies and business practices to improve the wellbeing of society.

Environmental - looking after the social and physical environment and where possible developing more sustainable processes.

Why is it important?

Social Value is important because it gets us to think through our actions, consider whether they add value to society and how they can impact on future generations. It helps us to be more socially conscious.

Social Value is not just about creating projects that have a big impact but also looking at what we can do individually day to day; for example how we treat the people we come in contact with, how we look after all living things (animals, insects and trees/plants) and what we can do to lower carbon emissions which contribute to climate change etc.

How does it benefit employers?

Social Value gets employers to think about three specific areas - staff wellbeing, the impact their business is having on society and the environment.

Staff well-being is a principle of Good Work where employers are encouraged to build a workforce that is happy, safe and healthy and think of ways to maintain or improve this. Building a happy workforce means that employers can benefit from higher employee retention rates as well as higher productivity levels.

Employers can also have a positive effect on society by being more inclusive and offering employment opportunities to people who may have previously been overlooked. This increases the pool of talent that they have access to and also improves their reputation, which is good for future business. Employees from disadvantaged backgrounds are generally more likely to stay working for a good employer for longer.

Employers can also put in place sustainable practices to protect the environment. Being less reliant on natural resources means that businesses are less likely to be effected by increasing costs due to climate change. Areas to focus on include reducing reliance on fossil fuels, preventing unnecessary travel or carbon miles, encouraging recycling and reducing waste.
Would you like to start a conversation with an organisation committed to helping you improve the diversity and engagement of your workforce? Get in touch and we'll gladly help you understand how Good Work can support your recruitment strategy. Email us at employers@shaw-trust.org.uk.
Written by Jags Lota, Marketing Content Officer at Shaw Trust.

Did you miss the last blog? Click here to get a different perspective on career progression.

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A simple understanding of Social Value - Shaw Trust Main

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What is Social Value? Social Value is about the wellbeing of current and future generations and covers three different areas: Social - the wellbeing of individuals and communities. Economic - putting in place economic policies and business practices to improve the wellbeing of society.

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What is BS 8950 - Social value about?
Interest in the concept of social value is growing as organizations increasingly want to show social responsibility leadership, further embed sustainable practices, or simply find another way to improve how they do business and benefit their communities.

BS 8950 has been written to help users identify, preserve and enhance their organization’s social value.

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The launch of the standard coincides with growing momentum in the social value movement in the UK, as from January 2021, all government procurement exercises will be expected to evaluate the social value commitments being offered by all potential bidders, and base at least 10% of the final evaluation score on the social, economic and environmental benefits created as a result. The Public Services (Social Value) Act 2012 requires public sector organizations to “have regard to economic, social and environmental wellbeing in connection with public services contracts; and for connected purposes”. In the private sector, organizations are increasingly prioritising net social value as a key part of their sustainability agendas, including commitments to UN SGD Global Goal 3 Good Health and Well-being.

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New measures to deliver value to society through public procurement

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Businesses seeking to win government work must set out how they will also deliver social value priorities, following new measures launched today.

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Social value can be this large, amorphous term. One that's often used as a catch-all to cover every environmental, social, and economic impact. It's also often used interchangeably with other buzzwords , such as social impact, sustainability, CSR, purpose, and countless others.

We want to explore what social value really means in more depth. Let's take a look at what we consider to be the most important examples of social value, identifying what these might look like to your organisation.

So, what is social value?

It's about wanting to consciously work towards being a more ethical organisation. Not just because it's good for money, but because it's morally the right thing to do.

In a landscape where ethics and social responsibility are a pressing concern for consumers, social value is about demonstrating the selfless actions you're taking to improve real lives, communities, and combat urgent environmental issues. After all, 77% of consumers are more likely to use companies committed to making the world a better place. While 73% of investors state efforts to improve the environment and society play into their investment decision-making.

Community

In practice, giving back to your local community means undertaking activities and initiatives to address their needs. Think how you can ensure longevity and empower local residents to help shape your approach and social value strategy.

Specific examples might include investing in new or improved healthcare sites or community centres. You could invest in skills training or work experience opportunities for local people. Or support or donate - money, products, or volunteering time - to local, community-facing organisations.

Sustainability

Like we mentioned above, sustainability is often a word used interchangeably with social value. But we think it's a bit more nuanced than that.

66% of global consumers are willing to pay more for sustainable goods. This means operating more sustainably isn't a 'nice to have' addition to your business, but rather a future trend you'll have to get on board with sooner rather than later.

The idea of sustainability continues to evolve. For example, Afdhel Aziz is an innovative writer who promotes the concept of abundance. Abundance is a way of thinking about mitigating the risk of climate change to create a fairer society. This is a point of a view that champions value-driven technology.

Wellbeing

There's no consensus on a firm definition of wellbeing, but one we feel fits comes from What Works Wellbeing:
"We define wellbeing as having 10 broad dimensions which have been shown to matter most to people in the UK. The dimensions are: the natural environment, personal wellbeing, our relationships, health, what we do, where we live, personal finance, the economy, education and skills and governance."
As articulated in this definition, wellbeing transcends mental health, applying instead to all aspects of human life, including an individual's education, skills, and personal finance.

Diversity and inclusion

Diversity and inclusion is one of the most commonly known aspects of social value. Mainly because it can exist internal to your business and is fully within your organisation's power to control.

By 2044, groups formerly seen as "minorities" will reach majority status. While 43% of companies with diverse boards noticed higher profits and racially and ethnically diverse companies are 35% more likely to perform better.

Sometimes it pays to go back to basics and refamiliarise yourself with the many facets of social value and impact. While you might be thriving in some ways, there may be other aspects worth focusing on. There's always progress to be made, no matter how far along its social value journey your organisation is!
At , we empower organisations to elevate their social impact. We make it simple to measure, evaluate, and report on your social value activities and initiatives. To find out more about what our platform could do for you, schedule a demo or get in touch with the team on 0161 532 4752.

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Social value examples - What does social value mean? Impact Reporting

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What does social value actually mean? We look at 4 examples of social value, as well as what these might look like to your organisation.

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Discover a business community that shares your commitment to social and environmental issues. Unlock business opportunities, learn from the community, stay ahead of the curve - and we can succeed together.

Join Social Enterprise UK (SEUK) today and find your people. Our lively member community includes thousands of like-minded businesses dedicated to a wide range of social and environmental missions -from healthcare and public service providers, local authorities and large corporates to retailers, community organisations and cafes.

As part of SEUK, you can share in the community's experience, business opportunities and best practice. And as the voice of our members, SEUK champions social enterprise with government, industry and the public to create an environment where your business can thrive.
So why go it alone? Join the UK's biggest social enterprise community today.

Social Enterprise Member Benefits

Social enterprise accreditation

Clearly identify yourself as a "Certified Social Enterprise" or "Supporter Member" using our member badges

Online community

Connect with social enterprises and supporters in our Members' Area. Learn from the community, access resources, discounts and business advice - and share your own news and offers

Social Procurement Connect

Buying organisations can access recommended social enterprise suppliers, along with the resources and connections to build a social sourcing initiative. Fee-paying social enterprise members can apply for a premium directory listing. Find out more here.

Exclusive events

Join free SEUK webinars, in-person workshops and networking events - or host your own. Get discounted rates for and the annual UK Social Enterprise Awards

Social Enterprise Membership
To join as a social enterprise, your business must:

1. have a clear social or environmental mission set out in your governing documents.

2. be independent and earn more than half your income through trading (or be working towards this).

3. be controlled or owned in the interests of your social mission.

4. reinvest or give away at least half your profits or surpluses towards your social purpose.

5. be transparent about how you operate and the impact you have.

Membership is free for social enterprises which turn over under £100K. If you'd like to learn more about membership, please get in touch with the team at membership@socialenterprise.org.uk.

Supporter Membership
Not a social enterprise? Join the network as a Supporter Member
Access our unparalleled network of social enterprises and partners. Get help bringing social enterprises into your supply chain through our social procurement programmes. Build partnerships, run events and share your offers. Access our unique industry insights and research. Demonstrate your commitment to social enterprise.

Supporters come in all shapes and sizes: universities, private sector organisations, trade organisations, public sector bodies, charities and more. Fees for Supporter Members start at £195. See below for details. If you'd like to learn more about Supporter Membership, please contact us at membership@socialenterprise.org.uk.

Benefits for fee-paying members

As a fee-paying member, you can also:

1. promote your products, services and activities through our website and Members' Area.

2. host a webinar for SEUK members.

3. get free business support and discounted services, including HR, EDI, legal, funding and financial resources.

4. access specialist member networks for Health & Social Care, Supporters, B2B Recommended Suppliers and eBay for Change.

5. upload jobs, news and events to our website and Members' Area.

6. access events held by the All-Party Parliamentary Group for Social Enterprise.

Annual fees for Social Enterprise Members

Annual fees for Supporter Members

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About SEUK Membership | Social Enterprise UK

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Discover a business community that shares your commitment to social and environmental issues. Unlock business opportunities, learn from the community, stay ahead of the curve - and we can succeed together. Join Social Enterprise UK (SEUK) today and find your people.