Showcasing Social Value

What is Social Value?

Social Value is defined as “the additional Social, Economic & Environmental benefits from a commissioning/procurement process over and above the direct purchasing of goods, services & outcomes” (sourced & amended from The Social Value Guide). Social Value is however not a separate activity, but an ambition for how we do business while positively impacting on the local communities & environment we work within.

Many organisations are already working on their Social Value without necessarily being aware that they are. Future Catalyst can assist leaders and their teams identify where Social Value is already being added, and help them identify further ways to add Social Value & Impact.

What is the Public Services (Social Value) Act 2012?

The Public Services (Social Value) Act 2012 is the most significant development towards embedding Social Value practices through Procurement, Commissioning & Contracting activities. The Act came into effect in January 2013, asking all Local Authorities, Government Departments, NHS Trusts, CCGs , PCTs, Fire & Rescue Services & Housing Associations in England (& Wales) to comply with the Act.

To date however only a small number of agencies have shown their commitment to the Act. For example, recent research completed by National Voices shows that only a small percentage of CCGs are actively working towards embedding better practices & only 13% of all the NHS’s Sustainable Transformation Plans (STPs) explicitly mention Social Value.

Doing Business for Social Good

With all Social, Environmental & Economic Challenges facing us, we need businesses and charities of all shapes and sizes to consider how they can transform themselves into Enterprises that become part of the solution, not part of the problem. This requires leaders across all sectors to think more carefully about where they find themselves on the following continuum (with kind thanks to the Charities Aid Foundation), and take positive actions in transforming their design, culture & delivery to better match the Corporate Social Values they wish to commit to.

For Privately owned businesses, this may take the format of identifying their Social Value on top of their Commercial Value, while a Charity may wish to consider ways to add to their Commercial Value, given their commitment to adding Social Value is already well-honed. By providing skilled facilitation, we help enterprises on both sides of the continuum to think through ways they can transform themselves.