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Social value

Published on Feb 19, 2016

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PRESENTATION OUTLINE

1.

SOCIAL VALUE

WHAT'S IT WORTH?
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WHEN WE SUPPORT A CUSTOMER TO FIND A JOB

WHAT IS IT WORTH?
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WHAT'S IT WORTH TO THEIR CONFIDENCE?

TO THEIR SELF ESTEEM?
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AND TO THEIR BANK BALANCE?

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WHEN A CUSTOMER FINDS A JOB

WHAT'S IT WORTH TO UK PLC?
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HOW MUCH DOES IT SAVE IN BENEFITS?

HOW MUCH DOES IT REDUCE COSTS TO THE NHS?
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WHAT'S IT WORTH TO BROMFORD?

8.

IN RENT SECURITY

AND IN REDUCED RELIANCE ON OUR SERVICES?
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WHEN HOMES ARE FUEL EFFICIENT

WHAT'S THAT WORTH?
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WHEN PEOPLE FEEL HEALTHIER

AND HAVE STRONGER COMMUNITIES
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HOW DO YOU VALUE

THE THINGS THAT MATTER
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USING TWO METHODOLOGIES

  • Social Return on Investment (SROI)
  • Cost Benefit Analysis (CBA)
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BOTH ASK TWO KEY QUESTIONS

  • Have our actions caused a change in outcome?
  • What is the value of that change?
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THERE ARE 7 STEPS

TO ESTABLISHING VALUE
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1. ESTABLISH SCOPE

WHAT WILL ANALYIS INCLUDE, WHO IS INVOLVED & HOW?
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2. ASK YOUR STAKEHOLDERS

WHAT OUTCOMES ARE IMPORTANT TO THEM?
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3. MAP YOUR OUTCOMES

THEORY OF CHANGE: RELATIONSHIP BETWEEN ACTIVITY AND OUTCOMES
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4. EVIDENCE OUTCOMES AND GIVE THEM A VALUE

ASK THE RIGHT QUESTIONS TO GIVE YOU THE DATA
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5. ESTABLISH THE IMPACT

  • Do not overclaim: eliminate other factors
  • How much the of the change was due to our activity?
  • Have we moved the problem elsewhere?
  • What would have happened anyway?
  • How long will the change last for?
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6. CALCULATE THE RETURN ON INVESTMENT

COMPARE THE BENEFITS TO THE EXPENDITURE
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7. USE YOUR RESULTS

TO DEMONSTRATE, INNOVATE AND INVEST
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HOW DOES THIS WORK IN REALITY?

LET'S LOOK AT THE EXAMPLE OF COACHING SOMEONE INTO WORK
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ONCE WE GATHERED INFORMATION

INCLUDING CUSTOMER SURVEYS
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WE MEASURED THE CHANGE AND APPLIED A VALUE

USING FINANCIAL PROXIES TO ESTIMATE THE VALUE OF NON MARKET OUTCOMES
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WE THEN MAKE DEDUCTIONS

To take into account things like...
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Untitled Slide

  • What would have happened anyway: has national unemployment gone down?
  • Have we moved the problem: did we prevent someone else getting a job?
  • How much did we contribute? Were they also working with another provider?
  • How long will it last: what is the average length of time spent in a job?
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CALCULATE THE RETURN

NET SOCIAL VALUE £X / INVESTMENT X = £:£
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USE YOUR FINDINGS

  • To plan and improve services
  • To make investment decisions
  • To retain and attract funding
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WHY DO IT

ISN'T THERE AN EASIER WAY?
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MEASURING SOCIAL VALUE

  • Lets us measure a wider sense of value than can be captured in pure financial terms
  • Provides clarity on how we create change and by how much
  • Gives us a consistent approach allowing us to compare the impact of different services
  • Provides evidence based evaluation to make informed investment decisions
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31.

BUT MOST OF ALL

IT HELPS US TO HELP PEOPLE TO BE THE BEST THEY CAN BE
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