Why measurement matters
Laurence emphasised that measuring social value is essential for several reasons:Accountability:
It holds organisations accountable for their commitments.
Expectations from bidders:
Being seen to do the right thing via transparency to stakeholders, including contracting authorities, the public, and bidders.
Continuous improvement:
It helps organisations identify areas for improvement and enhance their social value delivery.Use established frameworks:
Laurence recommended using established frameworks such as the Social Value Portal or the National TOMs (Themes, Outcomes, and Measures) Framework. Get in touch to understand how to do this, or to discuss the pros and cons of each.Tips for measuring social value
Use established frameworks:
Laurence recommended using established frameworks such as the Social Value Portal or the National TOMs (Themes, Outcomes, and Measures) Framework. Get in touch to understand how to do this, or to discuss the pros and cons of each.Set clear
objectives:
Define clear social value objectives and align them with the priorities of the contracting authority. This needs effort to understand what's important to the contracting authority and create a plan to support their bespoke needs.
Collect
data:
Gather data on your social value initiatives, including both quantitative and qualitative metrics, to help underpin the persuasiveness of your story. Involve all stakeholders in monitoring and reporting, demand more and give more to charity partners who are helping you to achieve social outcomes, co-produce reporting structures with contracting authorities, and map your reporting schedules and needs to those of the contracting authority - both national and local.