TrainingESG expert Laurence Higgens highlights how social value is beginning to merge with ESG criteria, shaping a more integrated and strategic approach to proposals.
The landscape of social value in bidding is constantly evolving. Laurence Higgens shared his predictions for the future during a recent internal briefing with the SP team. This blog explores these insights and offers advice for bid and proposal managers on staying ahead of the curve.
Emerging trends
Laurence identified several emerging trends in social value:Increased expectations:
Contracting authorities are raising their expectations for social value, requiring more comprehensive and impactful initiatives.Integration with ESG:
Social value is increasingly being integrated with Environmental, Social, and Governance (ESG) criteria, making it a holistic part of the bidding process.Technological advancements:
Technology is playing a growing role in measuring and delivering social value, with tools and platforms becoming more sophisticated.Preparing for the future
Stay informed:
Laurence emphasised the importance of staying informed about policy changes and emerging trends in social value. Although the recent PPN Notice is new, it is broad in nature and allows Contracting Authorities a fair amount of leeway. Policy changes, particularly around reporting, are changing regularly and can be a bit of a maze. Councils and Central Government, along with other Contracting Authorities, regularly update and review plans regarding who they want to support and how. Different Contracting Authorities can be aligned to social outcomes and different reporting standards, and we're here to help you navigate through these complexities.Invest in technology:
Consider investing in technology that can help measure and report social value more effectively. In terms of tools to measure, resources like the UK Social Value Bank, Social Value Portal, B-Corp Registration, and the Institute for Social Value can provide robust frameworks and methodologies. We can support you in specifying any tech requirements your organisation might need to make informed decisions.Build partnerships:
Strengthen partnerships with stakeholders to enhance your social value delivery. Your approach will need to support the main Contracting Authority's Social Value Aims, but also specific local aims which vary across borough and region. In some councils, promoting social mobility focuses on younger people and access to jobs, while in other areas, the emphasis may be on entrepreneurialism. To learn more about how to incorporate social value into your bids and improve your chances of winning contracts via our free-of-charge assessment, get in touch via our contact form and we'll take you through how we can help you maximise your social value impact.
Don't forget to check out our other related blogs in the resources section of our website.
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