The Social Value Initiative
The Social Value Initiative will help your organisation to plan, deliver and measure greater impact. The Good Consultancy has formed a unique partnership with the Social Profit Calculator® to make social value easy and quick to measure.
Why is Social Value so important?
Every organisation creates social, environmental and economic impacts. Commissioners and funders want to ensure that services they buy maximise the positives, and minimise the negatives. Charities and social enterprises need to understand the impact of the work they do, and how it contributes to their communities, wider society and the health of the planet.
The main reasons charities and social enterprises should be measuring their social impact:
Understand and communicate the impact you deliver to staff, stakeholders, donors and funders;
Make your project delivery more effective, making better use of your income to maximise social value;
Win more funding from sophisticated institutional donors by maximising and quoting social value in applications;
Measure and evaluate the impact that projects actually deliver.
Commissioners, funders and companies should adopt the Social Value Initiative:
Companies can demonstrate Social Value when bidding for public sector contracts;
Improved oversight, measurement and reporting of the Social Value delivered by CSR programmes, funding rounds and commissioning;
Easier to meet the requirements of Public Services and Social Value Act.
How does it work?
- DESIGN: We design and build the measurement approach to meet your organisational objectives.
- ASSESS: We comprehensively calculate your social profit (the difference between the positive impact you have and the costs), performing an in-depth social impact assessment of either your whole organisation, a programme of work or a function.
- REPORT: We provide comprehensive analysis and reporting of your social profit which will include metrics that can be used for internal and external reporting.
- VISUALISE: We will use various data sets and techniques to create easy-to-understand visualisations of the social value.
- MAXIMISE: We will analyse your social profit report against information about your organisation to show what changes you can make to maximise your social impact and value.
How is Social Profit Calculated?
The approach we use to calculate social Profit consists of a unique combination of 3 analysis methodologies:
- Cost Benefit Analysis: Cost Benefit Analysis identifies the savings you make to the Government and Taxpayers through the contracts you deliver.
Social Value Analysis: Social Value Analysis including your Social Return on Investment (SROI), evidences how you improve the wellbeing of the people you work with, their families and their community.
Local Economic Benefit Analysis: Local Economic Benefit Analysis uses LM3, to understand how your organisation or project spending supports local economic growth and being a responsible business.
Simplicity built on rigorous foundations
Social Profit Calculator® is the most efficient and effective tool to measure social impact and calculate social value.
The tool uses a database of over 4,750 outcomes and values taken from the New Economy Unit Cost Database and Social Value UK’s Global Value Exchange.
All of the outcomes and values are academically researched and verified using HM Treasury approved valuation techniques.
Includes a full suite of supporting impact measures to enable you to calculate your value accurately.
The methodology is clear and transparent so that all outcome values and impact measures can be further interrogated, if required.
Call Ben Patient or Michelle Tafreshi on 0207 193 4770 or email firstname.lastname@example.org to discuss your project.