Measuring Social Impact
We believe that in a sustainable organisation the leadership team are held accountable to how they make the staff feel.
We also believe that a team that is genuinely happy and full of purpose will outperform their peers who are left to not feel connected to their organisation.
Choose the values from the UK Social Value Bank that you think your organisation has the most impact on.
Create an anonymous staff survey to measure your impact for a chosen period.
Calculate the social value you have created. Analyse the results by looking at the value by employee and by revenue.
What is Social Impact?
We spent 2 days learning all about Social Value through the incredible organisation HACT. While they focus on the housing sector they recognise the work they are doing can be interpreted in many ways.
In 2014, HACT and Simetrica-Jacobs together with over 50 social housing organisations developed and launched the UK Social Value Bank.
As the charity of the sector, HACT had been approached by a number of social housing organisations. As social purpose organisations, they wanted a robust way to measure the social value of their work.
The UK Social Value Bank pioneered a new way to measure social value. It was developed by the housing sector for the housing sector. It was designed to describe our social purpose.
Since its launch, the UK Social Value Bank and the value calculator has been downloaded over 18,000 times. We have also developed three further social value calculators to help organisations measure their impact around mental health, community-led housing and community asset transfers. All four calculators are free for social housing organisations to use.
HACT also provides a range of other tools and services to enable social housing organisations embrace social value and its application to the business of social housing.
What is the future of Social Impact?
The more organisations that choose to value their social value the better. So if you are thinking you might be interested in this for your business then reach out and let us help you figure it out.
On a national level HACT have a 3 stage strategy for growing the use and creating more case studies.
Working with Simetrica-Jacobs and partners from the social housing sector, we have developed a roadmap for the future of social value in social housing.
The roadmap consists of three stages:
- Stage 1: expanding the UK Social Value Bank with a broader set of wellbeing values, a new set of economic values and a new set of environmental values. In bringing together these different methodologies, we will ensure they are coherent, robust and avoid double counting, so that social housing organisations can apply social value metrics across their business with confidence.
- Stage 2: developing tools to use the UK Social Value Bank. These will enable social housing organisations to apply social value metrics across their business, whether in asset management and investment, ESG reporting, or regulation and value for money.
- Stage 3: applying the UK Social Value Bank to the business of social housing. In evolving our approach to social value, we will develop a range of services for social housing organisations, including social value assurance, social value audit and certification, social value benchmarking and social value innovation.
How we approach calculating your social value
Working with the leadership team, the sustainability team or a combination of both we create the value map that works best for your organisation and help you to develop your survey and get the engagement
We will analyse the figures and create a set of easy to understand reports that you can use with all your stakeholders. This will form part of the overall Impact Report that we develop for you so will link with carbon and the Global Goals.
Partnering with us
Working with us means that we can support you through all of this sometimes complex decision making and give you easy decisions to make.
Creating an ethical and sustainable culture
Through our tailored program we will create new purpose for your organisation and allow your team to create meaning in their work by reviewing your Mission Statement and Core Values.
Develop a measurable sustainability strategy
We have simple tools to create our Impact Report a 3 step approach to getting sustainability locked into your organisation and create simple goals with clear action points.
Get key insights into your stakeholders
We will support you to take a look across the whole value chain and begin to understand what’s important to them and how that fits with your sustainability strategy.
Data-driven decision making
Our unique approach of developing both a sustainability and communications strategy together allows us to pull on several data-points that we find during our research and create a bespoke strategy that will set you apart.
Engaging the whole organisation
We support you to create an organisation wide presentation that will engage all levels of managers and employees to not only understand but get excited about what you are doing to create a better future for them and the whole planet.
Communicate with key stakeholders
Your competitors won’t know how to keep up as you will be able to celebrate your work with the world and be seen as global leaders in sustainability as well as in your industry.
What does this mean for business?
Whether you are a solo business, an SME, or a multi-national organisation, the most important thing is being open and ready to adapt to a changing market.
Ethical consumerism is on the rise and if your business is to be relevant in the future then you need to be able to demonstrate ethical and sustainable credentials.
Investing in the future of your organisation to secure revenue in the changing marketplace
Cutting edge partners
We work with key local, national and international partners to make sure our clients are up to date with the latest thinking
Keeping it simple
Our obsession is making sustainability simple and understandable. No matter your background, this will be an easy process
Lead from the front
You will have a clear advantage over your competitors and develop a reputation as leaders within your industry