In a world often driven by numerical metrics and quantifiable assessments, the Valuation Presentation led by Adrian Ashton stands out as a beacon of thought-provoking insight.
Adrian’s introductory remarks challenged the audience to reconsider the prevalent “…fetish about valuation.” While acknowledging the importance of valuations, he emphasised that their value lies not in isolation but when approached through the prism of the Principles of Social Value. “We manage what we measure,” he stressed, urging us to be mindful that measuring the wrong things leads to managing the wrong things.
The debate ignited by Adrian’s words was like kindling to a fire; the audience eagerly shared their diverse thoughts and perspectives. It became evident that valuations are intricate, multifaceted, and profoundly contextual. To illustrate this complexity, Adrian shared compelling narratives.
One story revolved around a broken roof in his son’s room. When confronted with the task of fixing it, Adrian’s valuation wasn’t merely monetary; it was about safeguarding his son’s safety and comfort. This personal valuation far exceeded the builder’s charges, highlighting the subjective nature of valuations when tied to personal stakes.
Another example was Adrian’s own “beer index,” showcasing how different regions value the same product differently. It showed how valuations fluctuate due to numerous factors like location, preferences, and individual perceptions of worth.
The subsequent panel discussion further enriched the dialogue. HACT’s approach, as explained by another panellist, emphasised simplicity and robustness. However, they emphasized that valuations aren’t the starting point; understanding what to measure is. This journey involves recognising that social value isn’t solely about valuation but about grasping the underlying purpose.
Charlotte Ostermann of SVUK echoed the sentiment, highlighting the importance of starting with stakeholders and the “why.” Another attendee reinforced the notion that valuation represents the final piece in a more comprehensive process.
As the discussion continued, a quote from Tim Goodspeed’s training surfaced, emphasizing the importance of ‘why,’ ‘audience,’ and ‘decisions influenced.’ This aptly summarised the essence of the discussion, encapsulating the ‘RIGHT Approach’.
Loop’s approach, aligning with Greenbook guidance, extends beyond traditional cost-benefit analysis to consider wellbeing.
In conclusion, Adrian’s Valuation Presentation pushed us to reconsider how we evaluate worth. It served as a catalyst for a deeper understanding that valuations, when intertwined with social value principles, unlock a world beyond numbers, enriching our decision-making and understanding of true worth.
Charlotte Ostermann
Private Sector Lead, Social Value UK
Did you speak at or attend MemEx 2023? If so, send us a blog or other form of media we can share. We’d love to publish more insights from the sessions…
We are pleased towelcome Enterprise North West to the Social Value UK movement.
Below follows a catch up with Brian O’Neil (Director of Development & Enterprise) and why the Northern Ireland-based social enterprise have decided to join SVUK.
Tell us about your organisation:
Enterprise North West is passionate about encouraging economic resilience in Derry City and beyond. We strive to help our clients achieve this through stimulating enterprise and innovation.
Enterprise North West focus on growing the local economy by providing the information, advice and support that local business owners and social enterprises need.
Enterprise North West are passionate about contributing to the local economy through our range of services for businesses and social enterprises to create community wealth.
Why have you joined SVUK? What do you hope to achieve and what training or tools we offer are you most excited by?
We have decided to join SVUK as they are recognised as the market leaders in terms of social value in the UK. We want to be able to support organisations and social enterprises across the island of Ireland to measure the true impact of the services they provide in their communities.
How deep is your current knowledge of social value practice?
Whilst Enterprise North West have worked in the social enterprise sector for over 25 years we have always focused on business development with financial return as the key focus. Our current knowledge of social value is limited but we are keen to develop this knowledge further.
You have joined a global social value movement, what does this mean to you? How important do you think it is that organisations make decisions informed by their social impacts?
Enterprise North West are fully committed to supporting local organisations measure the full impact of their services to allow them to demonstrate this to their own social stakeholders. This type of reporting is now becoming more important in terms of supporting community wealth building parties in local communities.
We cannot wait to see our new member embark on their social value journey. If you’d like to start yours, become a member today and consider attending our online or in-person SROI training. The Social Return on Investment framework is an internationally-celebrated method for identifying positive and negative outcomes of organisations’ decisions.
We are thrilled to announce Raytheon UK have joined the Social Value UK movement. We caught up Corporate Social Responsibility manager Joseph Drugan to find out more about the company and the reasons behind becoming a member.
Tell us about your organisation…
Raytheon UK is a landed company of US-based Raytheon – an aerospace and defence company -providing advanced systems and services for commercial, military and government customers worldwide. As a prime contractor and major supplier to the UK across Space, Cyber, Maritime, Air and Land, our vision is to create a safer, more connected world through delivering game-changing technologies that secure our futures. At the heart of this vision are our 2,000+ highly skilled employees, who are located across the country at our regional facilities which include Broughton, Glenrothes, Harlow, Livingston, Manchester and Gloucester.
Why have you joined SVUK? What do you hope to achieve and what training or tools we offer are you most excited by?
SVUK is an ideal fit for our company because we are committed to delivering a genuine, positive social impact throughout all our projects and contracts. We do this right from the planning stage (to ensure commercial and environmental decisions are made with social value considerations) through to the delivery of our contracts (ensuring that we deliver on our commitment to unlock real social value for our communities). By joining SVUK, we look forward to furthering our knowledge, and sharing and developing best social value practice. It’s important to us that we play our part in the defence sector’s ability to make a positive impact across our communities in all four nations of the UK.
How deep is your current knowledge of social value practice?
Social Value is integral to our projects and solutions, and is integrated in our design process from initial concept right through to the end-solution or end-product. We see huge potential to drive positive change through the delivery of our contracts and are focused on:
Reducing our environmental impact and contributing to environmental sustainability schemes in the UK
Reducing the UK Skills gap in key sectors such as Cyber Security, providing quality STEM education support across the UK, focusing on equity for pupils of all backgrounds and abilities to access pathways to industry.
Supporting UK Veterans both in career transition and wider holistic support.
Fostering and maintaining a positive working culture for all with a focus on accessibility, diversity and inclusion to ensure that everyone is given full support to deliver their best work.
Developing and diversifying our supply chain and bringing them on our Social Value journey.
Have you produced social value reports before and if so, how do you feel SVUK can advance these?
We are delighted to be currently producing Raytheon UK’s first external Social Value report. Although we have always monitored our social value activity internally, this formal report is a positive step forward to full transparency and accountability. We look forward to SVUK’s support by providing industry specific guidance on our report, and helping with accrediting the report where possible.
You have joined a global social value movement, what does this mean to you? How important do you think it is that organisations make decisions informed by their social impacts?
For an organisation such as ours, we can only truly deliver meaningful social value if all business decisions are made through the lens of social value.
Have you previously taken steps to improve wellbeing in your organisation? Do you feel your SVUK membership can improve this?
We believe that everyone should be supported to deliver their best work at Raytheon and have developed an employee wellbeing programme, which offers industry leading enhanced maternity and paternity packages, and a flexible working scheme to help our employees reach a healthy work/life balance that is desirable for all.
We operate our wellbeing approach under 5 pillars: Social, Mental, Financial, Physical and Professional Wellbeing. We believe wellbeing encompasses all of these areas:
Social
Social wellbeing is built upon the relationships people hold, both in work and out of work. We offer a range of information on how to achieve a sense of belonging through webinars, links to CSR, how to connect to our Employee Resource Groups and make the most of our volunteering opportunities (we offer 5 paid days per year per employee).
Mental
Mental wellbeing is supported by our network of Mental Health Ambassadors, who are located across the organisation at all levels. We have also recently recruited another group to double our number of ambassadors. We signpost employees to external support across the UK, our Employee Assistance Programme platform also links to an external platform which hosts support for employees.
Financial
Financial wellbeing focuses on resources to support employees around money management, where to go for debt management support, links on how to assess what government support they may be entitled to. We recently hosted moneycharity.org.uk who delivered seminars on money management and pension information. Employees also have access to financial resources via their pension.
Physical
Physical wellbeing is supported in the workplace via Environmental Health & Safety practices and in-house occupational health if required. We focus our resources on how to stay active working from home, how to set up workspaces from home, how to be active at your desk, but also offer information on how to eat healthy.
Wellbeing
Professional wellbeing focuses on career management, outlining resources available to employees, this links in to learning and development.
What steps have you taken to drive equality and social mobility? Do you feel your SVUK membership can improve this?
As an organisation, we have been externally assessed as having a fantastic inclusive culture, but we seek to continually access, develop, and improve our culture. Enabling our employees and those joining the company, to be the best version of themselves is our top priority. Therefore, we welcome any opportunities to learn and integrate practices which will improve our employee’s experience and continue to open up pathways into our industry for people from all walks of life.
…..
We are thrilled to say Raytheon UK have already had a member of staff attend one of our Social Return on Investment training courses.
Members of Social Value UK receive a discounted rate for these globally-recognised courses – held online and in-person. Why not become a member of Social Value UK today?
Janina Neumann Design is a graphic design business that helps organisations to scale social impact through brand identity design, branding, and social value reporting.
Ahead of this announcement, spent some time with Janina to learn more about her experience with the assessment process…
Why did you embark on the SVI Professional Pathway?
I embarked on the SVI Professional Pathway because I wanted to get a better understanding of how to measure change within people’s lives and to support Janina Neumann Design’s mission of “Design for social change”.
What elements of the assessment were particularly useful to your learning?
Identifying stakeholders and outcomes have been one of the most useful elements. I found it very valuable to learn how the Principles of Social Value ensure that more voices are heard in decision-making processes. It was also important for me to find a framework that would highlight all meaningful outcomes, even the unintended negative outcomes of a project.
How do you plan to utilise your newly acquired Level 1 Associate practitioner skills?
With my Level 1 Associate Practitioner skills, I look forward to supporting clients with assessing their social value when making policy, delivery, and investment decisions. The additional skills will also help me bring a different perspective to designing social value reports and pitch decks.
Do you intend to develop your social value practice further?
Having already completed Social Value UK’s ‘Social value and SROI Practitioner training’, I would like to become a Level 2 Accredited Practitioner in the future.
Congratulations on joining our social value practice community. What does it mean to you to be part of a global network? How can you contribute to the social value movement and what issues/areas do you intend to address?
Being a part of a global network is exciting as I am keen to learn about the different environments that social return on investment is applied in. It is great to be able to work with a globally recognised framework that has defined social value and its principles so that it can work across different cultures.
“I’m thrilled to have become a Level 1 Associate Practitioner with Social Value International. This will continue to help me deliver Janina Neumann Design’s mission of design for social change.”
Ahead of this announcement, we spoke to Allison about his experience with the assessment process…
Why did you embark on the Social Value International Professional Pathway?
SVI’s approach to accounting for social value is underscored by systems thinking and democratic principles of honouring the voice of those experiencing the change. Understanding the interconnectedness and complexity of impact is critical for a just and sustainable future. The SVI Professional Pathway increased my professional competencies in helping organizations measure, manage, and communicate their impact while increasing engagement with their stakeholders. Because SVI is a global network of experts, embarking on the professional pathway also allowed me to align our work in the United States at Ohio University to the global standard in measuring social value. It provided a platform for me to learn from leading experts in the field and engage with a global community of practitioners who share a common goal of creating a better world.
Overall, embarking on the Social Value International Professional Pathway aligned perfectly with my personal and professional goals of making a positive impact on society. By acquiring a deeper understanding of social value measurement and management, I aimed to become an advocate for social change, helping organizations and communities create sustainable and equitable outcomes.
What elements of the assessment were particularly useful for your learning?
Overall, Social Value Practitioner Advanced Level 3 assessment’s peer review process provided the opportunity for consequential discussions around the data, valuation methods, and stakeholder communication process. Through the peer review process, I was able to connect to SVI’s global network of practitioners who have been working in the Impact field for decades. These individuals have not only worked in the space, they have shaped it. Talking through both successes and challenges in measuring social value for clients enabled me to refine and adopt new approaches to strengthen our methodology and engagement with clients. The peer review process also provided me with tailored professional development ideas for continuing to move our work forward.
How do you plan to utilise your newly acquired Level 3 Advanced practitioner skills?
Leading Impact Measurement Initiatives: As the leader of the SROI and Impact Measurement team at Ohio University’s Voinovich School of Leadership and Public Service, I will leverage my advanced practitioner skills to spearhead impact measurement initiatives for social enterprises, impact investors, non-profits, foundations, and impact funds in the United States. Especially in rural areas in the US, there is a need to measure outcomes to multiple systems in a way that can be communicated to often far-away state or national entities that could provide substantial funding opportunities to local communities. The use of SROI to measure and monetize sometimes intangible, relational outcomes is a step in the direction of honouring the diverse, strength-based contributions of rural stakeholders while giving voice to the outcomes those stakeholders prioritize as most important to their communities. The power of SROI lies in articulating a narrative counter to the stories of extraction and lack repeated about rural areas.
Advising and Influencing Policy: With my expertise in impact measurement and my role as an advisor to national organizations and federal policymakers, I will utilize my Level 3 Advanced practitioner skills to contribute to the development of impactful policies. By employing rigorous data analysis and evaluation techniques, I can provide evidence-based recommendations and advocate for the integration of social value principles into policy frameworks. This will help shape decisions at a systemic level, promoting the consideration of social and environmental outcomes alongside economic considerations.
Strengthening Collaborations and Networks: Collaboration plays a crucial role in driving social impact. With my Level 3 Advanced practitioner skills, I will actively engage in building and strengthening collaborations and networks within US social impact ecosystem. My goal is to partnerships that facilitate the exchange of knowledge, resources, and best practices. This will enable collective action and amplify the social value generated by organizations and initiatives.
Contributing to Research and Thought Leadership: Given my research interests in asset-based approaches to community building, social entrepreneurial ecosystems, and holistic community well-being, I plan to utilize my advanced practitioner skills to contribute to research and thought leadership in these areas. Through rigorous research methodologies and data analysis, I can generate insights that advance the understanding and implementation of social value principles. This will help shape the discourse around impact measurement and inform future practices and policies.
Are you embedding social value and SROI into any current projects? Can you tell us about them?
At the Voinovich School of Leadership and Public Service at Ohio University, I lead a team of researchers in conducting SROIs and social value analyses for large and small clients. Most recently, we conducted an SROI study of the $10M Columbus & Franklin County Small Business Recovery Fund, aimed at assisting small businesses in the aftermath of the pandemic. We are also currently working on a number of projects that include an SROI for The Boys and Girls Clubs Ohio Alliance and an SROI for PassionWorks, a local social enterprise. Our university team is also partnering with Tim Goodspeed to complete a set of wellbeing valuations that will be available in the US
What does it mean to you to be part of a global network? How can you contribute to the social value movement and what issues/areas do you intend to address?
Being part of a global network allows me to share my expertise, experiences, and best practices with others while also learning from their insights. By engaging in knowledge sharing and collaboration, we can collectively advance the field of social value measurement and management. The current body of knowledge project, which I am facilitating with Social Value US, seeks to engage this global network in order to build a framework that outlines key concepts, theories, methodologies, and skills necessary for the practice of impact measurement and management. Through both the BOK work and my work in applied research at a university in the U.S., I hope to further engage the academic community in conversations and practice in social value, impact measurement and management, and the ecosystems that support social enterprises. As we engage the academic community, we therefore expand access to these concepts and practices to the next generation of entrepreneurs, researchers, thinkers, and leaders who are all hungry for ways to think differently about addressing social, environmental, and economic goals.
“Becoming the first Level 3 Advanced Practitioner in the United States is an honour and a privilege. This achievement speaks to Ohio University’s commitment to being at the vanguard of interdisciplinary work to create a more sustainable and just future not just for our region in the US but also for the world. In addition, becoming a Level 3 Advanced Practitioner will continue to help carry forward the conversation of measuring and managing impact in the US.” – Allison Ricket, Visiting Professor and Executive in Residence for Impact Measurement and SROI at Ohio University’s Voinovich School of Leadership and Public Service
We are delighted to announce SVUK have signed the Disability Employment Charter.
It is fundamental to achieving positive social value that we strive for a more equal world that sees organisations make decisions that improve people’s wellbeing.
The DEC consists of eight measures focused on improving employment opportunities for those with disabilities that we, as signatories, call upon the government to act on.
The charter was founded by Disability Rights UK, Disability@Work, the University of Warwick, the DFN Charitable Foundation, Leonard Cheshire, Scope, Shaw Trust Foundation and UNISON.
Notable large employers such as the Post Office, McDonalds, the British Paralympic Association and many others have already thrown their weight behind the campaign.
SVUK co-CEO Isabelle Parasram OBE said: “Social Value UK is to launch a campaign this summer focused on championing improved equality and opportunity in the workplace, as part of our Social Value in Perspective work.
“When we launched Social Value in Perspective in January, we pressed the case for tackling lesser known wellbeing topics in the workplace, not just because it is the right thing to do, but because it is sensible business.
“In this next tranche of work, we will shine a spotlight on the UK’s equality issues, such as the near 30% employment gap between those without a disability and those with one. It is why I am delighted to throw our full support behind the Disability Employment Charity.”
The Charter’s primary author Professor Kim Hoque, who is Vice Dean of King’s Business School and co-founder of the Disability@Work research group, commented “It is wonderful that Social Value UK have signed the Disability Employment Charter, thereby joining a growing chorus of approaching 140 organisations that are calling on the government to go significantly further in developing employment policies aimed at enabling disabled people to get into and remain in work.
“Social Value UK’s fantastic support will be invaluable to our ongoing efforts to achieve substantial change aimed at improving the working lives of millions of disabled people.”
The charter aims to level up disabled peoples’ employment opportunities, increase disabled peoples’ job satisfaction, and reduce disability pay gaps.
Further it has the potential to benefit the taxpayer and support the UK’s post-pandemic recovery by providing employers with the widest possible talent pool and addressing skills shortages.
We are proud to announce that Social Value UK is partnering with the Social Value Matters 2021 conference, taking place online and in person on the 20th and 21st October 2021. This year’s conference will bring together individuals and leaders from across the world to discuss how changing the way the world accounts for value will lead to a sustainable world for all.
Join us at the conference for:
Networking sessions
Mainstage events with headline speakers and high level panels
Practical insights on how to change the way the world accounts for value
Workshops and seminar sessions spanning policy and regulation, ESG, impact investing, purposeful business, assurance, sustainability, data and technology, wellbeing and human rights.
Exchanging ideas and connecting with peers through the conference platform.
Last year, over 700 participants from 40 countries attended the Social Value Matters 2020 conference.
At this year’s Social Value Matters conference, you will meet social value professionals, impact investors, academics, policy makers, organisational leaders, students, non-profits, social entrepreneurs, lawyers, and leaders – all with a shared vision to change the way the world accounts for value.
By hosting the conference as a hybrid event Social Value Matters will allow participants to come together safely, either in person or online, for a groundbreaking 2 days.
We are pleased to invite SVUK members from ALL sectors to our monthly Members’ Coffee Mornings, with the first session taking place on May 25th . It will be an informal kick back hour to give members an opportunity for our members to meet, chat and talk ‘all things social value’ with us and each other.
The SVUK team will also update on goings on in the network and any events and activities members might be interested in getting involved in.
Our network promotes the Social Value Principles, with Principle 1: Involve Stakeholders, as the red thread running through all that we advocate for and all that we do. Our members are at the heart of our movement, and engagement, collaboration and networking across the membership is what drives our movement forwards together.
This first session will be for ALL sectors, however future sessions will focus on a different sector perspective, Public, Private and Civil – please look through the sessions and choose which one would work best for you.
Anglian Building Products have joined Social Value UK as organisational members. Anglian Building Products, the large projects division of Anglian Windows Ltd, specialises in the supply and installation of windows, doors and external wall insulation. Operating across England, Scotland and Wales, we serve both the public and private sectors, our clients include social landlords, military, education, developers and main contractors. Early on in their social value journey, Anglian Building Products hope to benefit from membership by getting ideas on how they can identify and measure social value so they can ensure their projects are maximising value.
“It’s a great step forward for us becoming a member of Social Value UK. ABP work predominantly within the social housing sector and we are keen to learn how we can maximise our social value impact.”
Paul Gavin, Managing Director, Anglian Building Products
Anglian Building Products
Sabina Rospedzihowska, Marketing Manager, Anglian Building Products
E: ABP@Angliangroup.com
Social Value UK
Christina Berry-Moorcroft, Communications and Campaigns Officer, Social Value UK
Anglian Building Products, the large projects division of Anglian Windows Ltd, specialises in the supply and installation of windows, doors and external wall insulation. Operating across England, Scotland and Wales, we serve both the public and private sectors, our clients include social landlords, military, education, developers and main contractors. With over 40 years in the industry, we fully understand client’s needs and our strong project management skills, together with our passion for customer service, ensures that projects are delivered on time and to budget.
About Social Value UK
Social Value UK is the national network for anyone interested in social value and social impact. We work with our members to increase the accounting, measuring and maximising of social value from the perspective of those affected by an organisation’s activities, through our Social Value Principles. We believe in a world where a broader definition of value will change decision making and ultimately decrease inequality and environmental degradation. To achieve our mission, Social Value UK provides training and assurance services, as well as hosting regular meetings and events, creating new tools and resources, and running campaigns. Through supporting and working with our members, and as a National Member Network of Social Value International, we are creating an international movement for change.
“It’s fantastic that The Guide to SROI is now available in Arabic. We have seen increased interest in this area over the last couple of years and this will really help people engage. I would especially like to thank Eric and his team for all their work getting this out.”
Jeremy Nicholls, CEO, Social Value
“Based on our interactions with organizations in the Middle East over the last 3 years, we have seen increasing appetite for having tools that can help monitor, evaluate and
measure the impact of their contributions to the society. Producing the Arabic version of the SROI guideline will help spreading the practice amongst Arabic speakers, players that
are designing and managing programs in developing communities.”
Monaem Ben Lellahom, Global Founding Partner, Sustainable Square.
Organisations within the region are continuing to shift from the Ad-hoc approach towards CSR practices to strategic design of programs to optimise value. However, the region still has room to grow in the monitoring and evaluating the effectiveness of the programs and in sharing resources in order to grow the social sector. Considering social impact and understanding what really changes in an initiative, is still a new technical approach for organisations to formally embrace. With the newly translated text, we look forward to seeing more Arab practitioners integrating SROI into their monitoring and evaluations, developing localised case practices relevant to the region, and promote the concepts of social investment and social value.
Behind Closed Doors (BCD) have joined Social Value UK as organisational members. BCD supports people affected by domestic violence and abuse to enable them to live safely, free from fear and harm, make informed choices and manage their own lives. BCD staff and volunteers support people to identify their experiences and problems, develop and implement their own plans, develop life skills, and build stronger familial and support networks.
BCD systematically monitor all of their work to learn how to improve the support they offer, using data and stakeholder feedback to identify gaps in services and develop new projects. Monitoring, recording and evaluating the impact of their services was embedded from the outset. Collating evidence of change, both statistical and narrative, has demonstrated the positive effect of their interventions but it is only recently that they have considered what ‘value’ these changes reflect. Tudor Trust funded them to research and produce their first Social Return on Investment Report for 2015-16 in January 2017. This report highlighted a £7.32 return on every £1.00 invested and perhaps more importantly, provided an exciting opportunity to really explore exactly what they do, how they do it and what it is about their services that clients and colleagues need and value. We have recently produced an in-depth case study on the social value work by BCD, you can download it and learn more here.
By joining Social Value UK, BCD hope to share and gain knowledge and learning. They also hope to collaborate with other like-minded organisations and gain the confidence to reflect on their own internal value and belief system.
“Elvis Presley once said ‘Values are like fingerprints. Nobody’s are the same, but you leave them all over everything you do.’ Joining Social Value UK is an exciting opportunity to be part of a network which recognises value, not just pounds; people, not just numbers; change, not just snapshots in time and legacy, not just impact.”
Behind Closed Doors works with both women and men throughout the Leeds district whose lives have been, or are affected by domestic abuse and violence. Behind Closed Doors has a dedicated and professional team who will aim to assist anyone who is, or has, suffered from domestic abuse.
About Social Value UK
Social Value UK is the national network for anyone interested in social value and social impact. We work with our members to increase the accounting, measuring and maximising of social value from the perspective of those affected by an organisation’s activities, through our Social Value Principles. We believe in a world where a broader definition of value will change decision making and ultimately decrease inequality and environmental degradation. To achieve our mission, Social Value UK provides training and assurance services, as well as hosting regular meetings and events, creating new tools and resources, and running campaigns. Through supporting and working with our members, and as a National Member Network of Social Value International, we are creating an international movement for change.
