In the UK, one in five people are currently living in relative poverty and, with a sharp rise in food insecurity and material deprivation, it’s fair to say that times are hard for a large proportion of our population.
In the past few years, we have seen an unprecedented increase in the adoption of Social Value across the board as more organisations come to realise the connection between a thriving local community and a flourishing business. This is something we expect will continue as the Social Value movement gathers momentum, both here in the UK and overseas.
As an early adopter of Social Value, the facilities management sector has been exemplary in driving positive societal change. In fact, we recently released a data led insights report which found that the FM industry currently delivers an average of £3.5 million in Social Value per project.
This means more positive outcomes such as:
- Contracts for local businesses
- Jobs for local people
- Emissions reductions
- Donations to community projects
- Apprenticeships
- Reduction of waste
- Donations of equipment and resources
It is fast becoming evident that in a thriving area, the workforce becomes more resilient, which in turn leads to a booming local economy, increased land prices and a rise in an asset’s value, thus forming a virtuous circle where everyone stands to benefit.
Social Value also has additional positive ‘side effects’, such as enabling organisations to recruit and retain the best talent, enhance brand reputation and improve sustainability performance.
As a result, Social Value is increasingly being integrated as a standard part of any operational strategy, and that can only be a good thing.
What good Social Value looks like
For ISS, a global leader in workplace experience and facilities management, creating Social Value is firmly rooted in its purpose of ‘connecting people and places to make the world work better’. Across its UK&I operations, this purpose underscores commitments to improving equality of opportunity, strengthening communities and championing sustainable workplaces.
As an example, ISS delivers on its commitment to inclusive recruitment by partnering with employability organisations that support people who face a range of barriers to entering the workforce. This includes (but is not limited to) refugees, people who have been long-term unemployed, and young people not in employment, education or training. By partnering with organisations that understand these individuals' needs and the support they require to successfully enter the workforce, it creates sustainable career pathways that see people become who they want to be, while also building a more diverse workforce.
By embedding access to inclusive recruitment partners in its standard recruitment processes, and by offering guaranteed interviews to all candidates put forward, ISS is maximising its opportunities to create meaningful Social Value. Since launching in April 2024, this new approach has supported the company to hire 14 people previously unemployed.
Demand for purpose-driven action is growing exponentially both from employees and customers – and this can only be a good thing both for the organisation and for society as a whole. Another way that ISS is meeting this demand is through supply chain partnerships that create Social Value. Customer demand for more visibility of purpose-driven brands in their workplaces is making the organisation think differently about the suppliers it works with.
One example is with social enterprise Change Please, which supply coffee across a number of ISS customer sites. Change Please reinvest 100 per cent of its profits into programmes that support people experiencing homelessness back into work, and so this supplier relationship extends ISS’s ability to create Social Value across the UK. In 2023, ISS’ total spend with social enterprises generated an additional £277,000 in Social Value.
What does the future hold for Social Value?
As Social Value becomes mainstream, organisations will increasingly be held accountable for their reported impact. With accusations of ‘greenwashing’ and ‘value washing’ becoming more frequent, accurate measurement – ideally with data validated by a third party – will become critical to an organisation’s success and, crucially, its reputation.
In fact, I doubt it will be long before the UK Government introduces stricter regulations and standards around Social Value reporting in order to drive greater transparency and accountability.
There is also a growing emphasis on collaboration as we strive to achieve our collective sustainable development goals – after all, we share the same planet, so it makes sense to pull together as we face the climate crisis.
This article originally appeared in Facilities Management Journal in Aug 2023.
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