Social Value UK

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  • What Does Social Value Mean in the Context of Political Action?

    What Does Social Value Mean in the Context of Political Action?

    By: Isabelle Parasram OBE
    Date: 02 October 2024

    As we follow the discussions at the Labour Party Conference this week, it’s crucial to bring attention to the broader conversation around social value, especially the aspects that may not always make the headlines.

    One area gaining traction is Labour’s commitment to enhancing local economic development, a topic that could significantly influence the creation of social value. By promoting investment in community businesses, Labour’s plans could pave the way for a shift towards a more inclusive and sustainable economic model. Supporting cooperatives and social enterprises could not only foster community empowerment but also create a more resilient local economy. This focus on grassroots economic initiatives aligns strongly with social value principles, promoting fair opportunities and long-term community benefits.

    Embedding Social Value in Public Procurement

    A standout proposal from Labour is the integration of social value metrics into public procurement processes. This move aims to ensure that public spending doesn’t just deliver on economic efficiency but also promotes fairness, equity, and social responsibility. By requiring suppliers to consider their social impact, Labour is encouraging a more holistic approach to public contracts—one that aligns with the principles we champion at the Institute for Social Value.

    By embedding social value into procurement processes, Labour’s approach could lead to more responsible corporate behaviour and better outcomes for local communities. It’s a significant step towards ensuring that public funds are used not just for infrastructure or services but to foster broader societal benefits.

    Mental Health: A Critical Component of Social Value

    Another important aspect of Labour’s platform is its focus on mental health services. By prioritising funding and support for mental health, Labour acknowledges the crucial link between well-being and productivity. This approach recognises that mental health is not just a standalone issue but one that intersects with broader social, economic, and community factors.

    Investing in mental health services has the potential to improve quality of life, reduce societal pressures, and create a healthier, more productive population. It’s a vital part of building a thriving society, where individuals can contribute meaningfully to their communities and the economy, reinforcing the social value principles we hold dear.

    A Non-Partisan Approach to Social Responsibility

    As a politically neutral organisation, The Institute for Social Value (formerly Social Value UK) supports any movement that works towards a more socially responsible policy framework, regardless of political affiliation. Our goal is to ensure that social value is considered in all aspects of policy, from economic development to health and well-being, to public spending.

    The discussions at the Labour Party Conference present an opportunity to reflect on how social value can be integrated into political action. Whether through community-focused economic policies, socially responsible procurement, or mental health initiatives, these proposals have the potential to shape a more equitable and sustainable future.

  • Labour’s Policy Proposals: A Step Towards Social Value or Room for Improvement?

    Labour’s Policy Proposals: A Step Towards Social Value or Room for Improvement?

    Author: Isabelle Parasram OBE

    Date: 25th September, 2024

    At the Institute for Social Value (formerly Social Value UK), we’ve been keeping a close eye on the recent Labour Party Conference. As an organisation committed to remaining politically neutral, we nonetheless recognise the significant impact that political events like these can have on the UK’s social, economic, and environmental landscape. The policies discussed and decisions made can shape our collective future and influence how social value is embedded across different sectors.

    One key question on our minds is this: Are Labour’s policy proposals optimising social value, or could more be done to ensure long-term societal benefits?

    Housing: More Than Just a Numbers Game

    Labour’s ambitious plan to build 1.5 million homes over the next five years has garnered a lot of attention. While this pledge is a direct response to the ongoing housing crisis, it also presents a unique opportunity to embed social value at every stage of the process.

    These homes could be more than just solutions to the lack of affordable housing. They could become the foundation for stronger communities, offering not only shelter but also fostering social cohesion, creating skilled local jobs, and promoting sustainable living solutions. By designing these developments with a focus on enhancing well-being and environmental sustainability, Labour has the potential to deliver far more than just bricks and mortar.

    However, to truly maximise social value, the focus must go beyond simply addressing the housing shortage. How these homes are built, who benefits from them, and whether they contribute to the long-term resilience of communities will be critical factors in determining their social impact.

    Green Energy Revolution: Social Value in Sustainability

    Another bold policy on Labour’s agenda is their commitment to scrap new fossil fuel licences and spearhead a green energy revolution. This move could play a pivotal role in reducing energy poverty, creating jobs in the burgeoning green economy, and addressing the pressing challenges of climate change.

    By transitioning to renewable energy, Labour has the potential to create a more equitable and sustainable energy system. Jobs in green industries could revitalise communities, particularly in areas that have been hit hard by the decline of traditional industries. Additionally, reducing energy poverty could ease the financial burden on many households, promoting a fairer and more inclusive society.

    While this is a bold and necessary step, it’s essential that the transition to green energy is inclusive. Ensuring that workers in fossil fuel industries are supported and retrained for new opportunities in the green economy will be vital to ensuring that the shift benefits everyone.

    Health Proposals: Aiming for Better Care

    Labour’s health policies are equally ambitious. Proposals to double the number of district nurses and provide quicker GP appointments have the potential to improve care quality, reduce pressure on hospitals, and promote better health outcomes across the nation.

    By investing in community health services, Labour could create a more resilient healthcare system that prioritises preventative care and reduces hospital admissions. In turn, this could improve the overall well-being of the population and relieve the strain on the NHS, ensuring that healthcare is accessible and effective for all.

    However, as with any ambitious proposal, the success of these plans will hinge on their implementation. Adequate funding, training, and resources will be essential to ensuring these new roles meet the needs of the population and deliver long-term social value.

    VAT on Private School Fees: A Social Value Dilemma?

    One of Labour’s more controversial proposals is the introduction of VAT on private school fees. This policy aims to redistribute resources and potentially provide additional funding for state schools. However, critics argue that it could lead to increased demand for state school places, putting additional strain on an already overstretched system.

    From a social value perspective, this policy raises important questions. Does it promote fairness and equality, or does it risk exacerbating educational inequalities by further stretching state school resources? While the intention may be to level the playing field, the long-term social impact of such a policy must be carefully considered.

    A Non-Partisan Approach to Social Value

    At the Institute for Social Value, we believe that every policy, from any political party, should be judged not only by its immediate economic outcomes but by the long-term social impact it delivers. Whether it’s housing, energy, healthcare, or education, policies should be evaluated based on their ability to improve the well-being of individuals and communities.

    We are committed to working with stakeholders across the political spectrum to ensure that the principles of social value are embedded in future policy decisions. It’s not just about short-term fixes or economic gains—it’s about creating a fairer, more resilient society for the long term.

    So, what do you think of Labour’s proposals? Are they truly prioritising social value, or could they go further?

  • Navigating the Landscape of Sustainability Standards: Where Social Value UK Fits In.

    Navigating the Landscape of Sustainability Standards: Where Social Value UK Fits In.

    By Natasha Jolob, Member Services Director, SVUK 

    Introduction 

    The landscape of sustainability standards can be complex, with a myriad of frameworks and guidelines available. It’s often challenging to know which path to follow. At Social Value UK (SVUK), we understand this challenge and can help you navigate it. This blog explains where we fit into the broader landscape, what we offer, and how our services can benefit you. 

    Social Value UK and Our Role in Sustainability Standards 

    Social Value UK is a Joint Member Network of Social Value International (SVI), the Global Network for Social Value and Impact Management. SVI brings together practitioners, organisations and changemakers from around the world with a shared mission to change the way the world accounts for value. 

    This shared mission is guided by the Principles of Social Value, which enable any organisation, regardless of size or sector to understand and report on their social impacts. Following the Principles gives organisations the understanding they need to create as much social impact as possible with the resources available. 

    The Principles are: 

    • Principle 1: Involve Stakeholders – Inform what gets measured and how this is measured and valued in an account of social value by involving stakeholders.  
    • Principle 2: Understand What Changes – Articulate how change is created and evaluate this through evidence gathered, recognising positive and negative changes as well as those that are intended and unintended. 
    • Principle 3: Value the Things That Matter – Making decisions about allocating resources between different options needs to recognise the values of stakeholders. Value refers to the relative importance of different outcomes. It is informed by stakeholders’ preferences. 
    • Principle 4: Only Include What Is Material – Establish the boundaries of what information and evidence must be included in an account of value to give a true and fair picture, and one that is based on the evidence from stakeholders so decisions taken focus on the changes that matter. 
    • Principle 5: Do Not Overclaim – Only claim the value that activities are responsible for creating. 
    • Principle 6: Be Transparent – Demonstrate the basis on which the analysis may be considered accurate and honest, and show that it will be reported to and discussed with stakeholders. 
    • Principle 7: Verify the Result – Ensure appropriate verification of results in line with the decisions being supported. In cases where results are being reported to external audiences and/or are supporting significant decisions, independent assurance is required. 
    • Principle 8: Be Responsive – Pursue optimum Social Value based on decision making that is timely and supported by appropriate accounting and reporting. 

    As a global standard setter, SVI helps ensure consistency in social value reporting and assurance which is in line with the Principles. SVUK delivers Report Assurance services and offers a Professional Development Pathway on behalf of SVI as well as an organisational quality assurance service (Social Value Management Certificate). To better understand where SVI and SVUK’s quality assurance services fit into the sustainability standards landscape, see this visual guide (courtesy of SVI): 

    Our Quality Assurance Services 

    1 Report Assurance  

    One of the key Principles of Social Value is Principle 7 – Verify the Result. This Principle underscores the importance of independent assurance when reporting results to external audiences or making significant decisions. 

    What is Report Assurance? 

    Report assurance is an independent review of a Social Return on Investment (SROI) or Social Impact report by qualified assessors. The goal is to ensure that the report demonstrates a solid understanding of the Principles of Social Value and practices. 

    Assurance is principles-based, meaning it focuses on adherence to the Principles rather than verifying stakeholder engagement, data, or calculations. 

    The Purpose of Assurance 

    1. Prove: Demonstrate that your practice meets the international standard for accounting for social value. 
    1. Improve: Enhance your practice through feedback and support from the assessor and the SVI team. 

    Why is Report Assurance Important? 

    Independent assurance is essential in cases where: 

    • Results are reported to external stakeholders. 
    • Significant decisions that impact people and planet are made based on the reported data. 

    Who is Report Assurance For? 

    • Practitioners on a professional pathway seeking individual accreditation (as part of Level 2 and Level 3 applications). 
    • Organisations looking for external verification of their impact reporting. 

    Report Assurance Criteria 

    • Assessment Against the 7 Principles of Social Value: The standard will soon include Principle 8. 
    • Assurance Standard and Feedback: Provided in a checklist format for both the applicant and assessor. 
    • Implementation Time: Based on the assessor’s judgments, it’s crucial to engage in feedback discussions. 

    How to Apply for Report Assurance 

    The application process can be found here.

    2 Social Value Management Certificate 

    Social Value UK also offers a Social Value Management Certificate with three levels of achievement: 

    • Level One: Commit: Achieved by committing to managing social value in alignment with the SVI Framework and Social Value Principles. 
    • Level Two: Implement: Achieved by implementing social value management practices. 
    • Level Three: Manage: Achieved through continuous practice leading to decision-making changes aimed at maximizing social value. 

    The application process is straightforward – and involves the completion of an evidence form, submission of supporting documents and improvement planning which can be implemented within a three-month amendment period. See here for more information.

    3 Individual Accreditation 

    In addition, by being part of the SVI global network we offer a professional development pathway and CPD qualification that accredits social value practitioners. There are currently three levels of Accreditation that involve the following:   

    • An exam 
    • Successful completion of an accredited training programme 
    • Submission of an overview Statement of Interest and Commitment to Social Value, Impact Management and Social Impact Assessment or SROI 
    • Writing a Social Value Report  
    • An interview with the Assurance Team  

    See here for more information.

    Social Value UK also offers other quality assurance support services to help you along the way: 

    • Report Review Service: Submit any report to Social Value UK for feedback on applying Social Value Principles and identifying areas for improvement. 
    • Pre-Report Assurance Outcomes Check: This optional service critiques the practice undertaken to define your analysis outcomes. 
    • Tailored Support: We offer tailored support and workshops for members and non-members, using SVI-qualified practitioners and impact management experts. 
    • Peer Support: As an SVI member, you’re encouraged to gain support from other members through regional meetings, webinars, and the online community. 

    Conclusion 

    Navigating sustainability standards can be daunting, but by accessing Social Value UK’s quality assurance services, you will meet international standards and be on the right track to continuously improve your practice. Whether you’re a practitioner seeking accreditation or an organisation looking for verification, we are here to support you every step of the way. 

  • Choosing the Right Social Value Training: Getting Started with Social Value and Social Value and SROI Practitioner Training

    Choosing the Right Social Value Training: Getting Started with Social Value and Social Value and SROI Practitioner Training

    Curious about Social Value but unsure which training is right for you? At Social Value UK, we offer two training options to help you develop the skills you need: our Getting Started with Social Value course, and our comprehensive Social Value and SROI Practitioner Training. Here’s a quick guide to help you decide which is best for you.

    Getting Started with Social Value

    Perfect for those new to Social Value:

    Duration: Two 2.5-hour sessions over 2 days

    Cost: £200/£250 + VAT for members/non-members

    Focus: Core principles and key concepts

    Best for: Those seeking a general overview or who commission Social Value reports

    Key Benefits:

    A quick, cost-effective introduction to Social Value

    Ideal for busy professionals looking for a concise overview

    Learn more here.

     

    Social Value and SROI Practitioner Training

    For those ready to dive deeper and become Social Value professionals and learn more about Social Return on Investment (SROI):

    Duration: Five 4-hour sessions over 5 days, plus assignments

    Cost: Starting at £675 + VAT

    Focus: In-depth SROI and impact measurement methodologies

    Best for: Those aiming to lead Social Value projects or conduct SROI analyses

    Key Benefits:

    Detailed training in SROI calculations and best practices

    Hands-on learning, setting you up for SVI assurance standard compliance

    Mandatory for progressing to Level 2 Accredited Practitioner status and Level 3 Advanced Practitioner status.

    Learn more here.

     

    Which Training is Right for You?

    Choose Getting Started with Social Value if you’re:

    · New to Social Value and need a foundational understanding

    · Limited on time but want a solid introduction

    · More focused on commissioning rather than producing reports

    Choose Social Value and SROI Practitioner Training if you:

    · Plan to lead Social Value initiatives or perform SROI analyses

    · Want to build expertise in impact measurement

    · Are serious about a career in Social Value and plan to progress professionally

     

    While Getting Started with Social Value is a great entry point, if you’re set on becoming a Social Value expert, Social Value and SROI Practitioner Training offers the comprehensive knowledge you need to achieve your goals.

    Ready to get started? Register now and take the next step in your Social Value journey!

  • Announcement: Annual Conference 2024

    Announcement: Annual Conference 2024

    Get ready to join us for our first conference as The Insitute for Social Value!

    Our annual conference is just around the corner. Join us on November 26th and 27th for a dynamic hybrid event, with day one in Birmingham and day two online. This year’s theme, ‘Productivity, Procurement, and Partnerships – with People at the centre‘, promises to bring together leading minds to discuss strategies and innovations that drive social impact. Plus, we are thrilled to announce the launch of The Institute for Social Value! 

    Launch of the Institute for Social Value: 

    We are incredibly excited to announce that Social Value UK has become The Institute for Social Value, a pioneering initiative aimed at advancing research, education, and best practices in the field of social value. The Institute will serve as a hub for professionals, academics, and practitioners dedicated to creating, measuring and increasing social impact. Join us for the official launch on the first day of the conference and be among the first to learn about its mission, objectives, and how you can get involved. 

    Highlights and Features: 

    The agenda will be packed with a variety of engaging workshops, dynamic panel discussions, conversations around best practice in your sector and insightful breakout sessions. There will also be networking events designed to foster meaningful connections and collaborations. 

    Attendees will gain actionable insights and practical tools to improve productivity, optimize procurement processes, and build strong partnerships. Whether you’re a professional in the field or someone passionate about making a difference, this conference offers invaluable opportunities for networking, sharing learning and insights, development and growth of the social value market.  

    Join us in advancing the social value movement through enhanced productivity, strategic procurement, and powerful partnerships! Follow us on X/Twitter and LinkedIn for updates and more information. 

  • We are looking for Members to participate in a Pilot Program!

    We are looking for Members to participate in a Pilot Program!

    We’re excited to announce the imminent launch of our new online self-paced learning course: ‘The Power of Social Value’!

    We are looking for a handful of member volunteers to pilot the course, at a discounted price, and to feed back to us on how it can be improved before we launch it in August 2024.

    👥 Who is this for? Anyone eager to understand and promote social value within their organisation.

    📚 What will you learn?

    • Understand, share, and explain social value.
    • Influence activities to deliver better outcomes.
    • Grasp the importance of “Social Value” and communicate it effectively.
    • The Principles of Social Value and how to put them into practice.

    🎓 Course Includes:

    • Introduction to Social Value.
    • Level 1: Getting Started in Social Value (this aligns to the Level 1: Social Value Associate online examination and provides you with the technical understanding needed to pass).

    ⏰ Time Commitment:

    • Roughly 20 hours of self-paced content
    • Reflection, exercises, and application

    💡 Why Participate? 

    • Complete the course for a reduced fee of £50+VAT (RRP £100+VAT).
    • Provide feedback to help us ensure that the course is high quality and good value.

    🖊️ Interested? Complete the Expression of Interest form below, deadline is 19th July 2024.

    🚀 Empower your organisation with social value! 🚀 

    Applications to join the Pilot Program have now closed.

  • Survey Launch: Environment and Social Value 

    Survey Launch: Environment and Social Value 

    We are excited to announce the launch of the Social Value UK survey, aiming to capture valuable insights from those involved in social value activities and accounting, particularly in relation to the environment – and we want to hear from you!

    About the Survey

    This survey is part of the ‘Translating Environmental into Social Value’ Thought Leadership Group’s ongoing work. We aim to understand:

    • Current Practices: What practice is already happening in relation to how our activities relating to the environment translate into social value?
    • Challenges: What obstacles are practitioners facing in this field?
    • Needs and Benefits: What support or resources would be most beneficial to practitioners?
    • Aspirations: How do practitioners aspire to use social value to understand changes to the environment and people’s wellbeing?

    Your Participation

    The survey will take about 10 minutes to complete. Your input will provide crucial insights that will guide the recommendations of the group and shape future practices. We are committed to sharing the findings with you through Social Value UK’s membership and newsletter.

    Thank You

    On behalf of SUEZ Recycling and Recovery UK, Ridge & Partners, Social Value UK, and the dedicated participants in the Thought Leadership Group, we thank you for your time and valuable input.

    More about the Thought Leadership Group

  • Member Spotlight – whatimpact

    Member Spotlight – whatimpact

    Whatimpact is a social value management expert company offering expert advice to match the public and private sectors with local social value initiatives and deliver evidence-based impact reporting. It supports organisations throughout the UK, with social value planning and social value delivery to meet tender-specific goals. Whatimpact prides itself on helping organisations deliver tangible, locally relevant, and contract-specific social value effectively and efficiently.

    More information can be found here: What is Social Value? – whatimpact

    Their excellent resources have been uploaded to our Resource Library:

    • Social Value Manager White Paper 2023, sponsored by HACT, researches the world of social value professionals, their backgrounds, workloads, goals and challenges and how we can support them to succeed. A really welcomed, recommended good read.
    • The Social Value Handbook: How to Manage & Budget Your Social Value is also a good recommended read. It sets out how to develop and implement a social value strategy and harness company resources with contract profitability in mind, how to coordinate a social value cycle, the challenge of different frameworks, how to report and budget for social value and more. A must read for SMEs and larger businesses.

    Find whatimpact in our Consultant Directory here.

  • Social Value Summit 2.0

    Social Value Summit 2.0

    A few weeks ago, I joined fellow social value leaders in Leeds for a ‘no holds barred’ discussion about the world of social value.

    Following (and prior to) that, there has been much action going on behind the scenes to drive an ambitious agenda for positive change.

    Since Autumn of last year when I became sole CEO – and with our new Board in place – I’ve been building relationships with many passionate individuals and organisations both inside and outside of our SVUK community. Many of these are at the forefront of both this agenda and other, linked initiatives.

    I’ll be inviting some of them to speak to our SVUK Board, Advisory Board and staff team in the coming weeks to hear more about what the evolving demands of the market are.

    This is a part of our continuous effort to be responsive in ways that align with our Vision, Mission, Values, Strategic Objectives and The Eight Principles.

    As always, we are listening to all sectors at all levels and are now setting up formal processes for participation. If you think you’d like to help in a practical way (methods yet to be decided), please get in touch via this JotForm.

    Isabelle Parasram OBE

    Chief Executive Officer, Social Value UK

  • 10 Ways to Stay in Touch with Social Value UK

    10 Ways to Stay in Touch with Social Value UK

    10 ways to ensure that you stay up to date with all that’s happening here at SVUK: 

    1. Check your marketing preferences to ensure that you have subscribed to all of our notifications 
    2. Make sure our domain, @socialvalueuk.org, is an allowed domain (speak to your IT department if you need help with this) 
    3. To prevent future communications from us going to your spam or junk, save our email address in your address book, mark us as a VIP contact, or add us to your ‘safe senders list’ 
    4. If you are the lead contact for your organisation, ensure that you cascade information to your team – there can only be one lead contact per organisation 
    5. Follow us and our CEO on social media – you will find out our most up-to-date news via these channels: SVUK on Twitter, SVUK on LinkedIn, Isabelle Parasram on LinkedIn, Isabelle Parasram on Twitter.
    6. Watch our CEO monthly update published by video towards the end of each month (May’s video is here) 
    7. Subscribe to our newsletter (you can find the sign-up form in the footer of the home page on our website)  
    8. Bookmark the Events page on our website and check it regularly 
    9. Attend our quarterly member consultation sessions covering various topics of interest 
    10. Make sure you’ve paid your membership fees! If you haven’t paid, you’’ll automatically stop receiving communications from us.

  • A message from the Co-Chairs of the Social Value UK Board

    Following the announcement last week of the passing of the Special Resolution at the EGM (details here), as Co-Chairs, Fran and I wanted to share some thoughts with members.

    We are delighted that this Special Resolution has been passed. It marks a significant moment as we come together as a body. We share a passion to see it become common place for organisations to make decisions that are informed by their social impacts. We share a passion to help to demystify the mystifying world of social value.

    We don’t know when the decision will be made by Companies House to inform us that we are able to change the name of SVUK to ‘The Institute for Social Value’. However, we now have an opportunity to ask the questions which remain, of which we know there are many, should the name change be accepted.

    As a board, we take our responsibility seriously and will use this time to ask some fundamental questions about what the name change means to the way we operate. Isabelle and the team have done a lot of hard work behind the scenes to start this process and we will give them every bit of support we can to delve more deeply into the reality of what this means.

    We are passionate about creating impact and as a group represent a diverse range of organisations and opinions. This helps us to provide solid support and a wide range of opinions to the SVUK team.

    We see that this is a fantastic opportunity to unite people and organisations around this important and ever growing topic, to provide structure, guidance, parameters, leadership and a strong independent voice.

    We look forward to conversations around this as a board and with members/ non-members in coming months and hope we are able to bring news of the decision soon.

    Penny and Fran