When it comes to winning bids, social value is no longer just a nice-to-have - it's a must-have. But how do you measure and report it effectively to truly stand out?
Measuring and reporting social value is crucial for demonstrating your commitment and impact.
Laurence Higgens shared his expertise on this topic during a recent briefing to the SP team. This blog provides practical tips for bid and proposal managers on how to effectively measure and report social value.
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.
Report
regularly:
Provide regular reports to demonstrate your progress and impact. This should be part and parcel of your operations. Share examples where you can in your submission to help tell the story of why you're the best provider.
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.
