Social value is an umbrella term, covering social, economic and environmental value. The UK Government’s Social Value Model covers not just social outcomes but also environmental and wider economic outcomes. The Social Value model combines environmental, social, and economic outcomes to maximise impact on local communities actively. Social value and environmental outcomes show strong interconnection.
NHS England has extended the reach of mandatory social value requirements (PPN 06/20) to the commissioning and purchase of goods and services by all NHS organisations as well as those acting on behalf of these. This shift has important implications for all organisations bidding for NHS tenders. A minimum 10% weighting around social value now
At least 11 million employees have the option to volunteer during work hours, according to estimates. This is a massive investment to social and environmental good by companies. However, there are also internal motivations for these investments such as employee engagement, retention and team building in the workplace. Social value (an umbrella concept for social,
whatimpact.com, Ministry of Defence, Babcock, Plymouth County Council, and Microsoft collaborated on the Social Value in Defence project. They are now celebrating after winning a national award for their work. This project highlights the power of cross-sector collaboration and open data. The power to improve people’s lives in local areas across the country. The team
Social value is an increasingly important factor in government contracting and it is becoming the winning factor in many tenders. Specifically when the differences in the product, price and service between competitors are not significant. It can account for 30% of scoring, making tangible and specific social value planning something to focus to win business.
We discussed with The Times business supplement the significance of validated data in making claims for social value and ESG technology. In the future, companies and their social value claims face closer scrutiny, impacting turnover and economic value through mandatory procurement requirements. Additionally, investors invest in ‘good companies’ with higher valuations. Therefore, it is not