Social Value Maturity Index tool for Private Sector
Download our tool to see how well you’re embedding social value
Want to do good at no extra cost to your organisation? Don’t we all! There is a way. Embedding social value into procurement has enormous potential to do just that. It can radically improve the economic, social and environmental wellbeing that a contract delivers.
But there’s only one way to see if efforts to embed social value really are working – measure it!
We’ve created the Social Value Maturity Index to allow organisations and their suppliers to see how well they are doing. It includes a step-by-step guide on how social value can be embedded effectively.
The tool has been created by the Social Best Practice Value Taskforce, which was founded in February 2016. The taskforce has one clear goal: to establish a good practice framework for the integration of the Public Services (Social Value) Act 2012 into both the public and private sectors. This Index is what the team of experts has created.
Using the Index
Let’s start at the beginning. The first thing you need to plot in the Index is where you are now. Have a real think about your progress on each of the nine themes the tool includes and remember to collect the evidence.
Next, where do you want to be? Use the Index to plot your path, within your own timescale. Many organisations settle on three years as a good length of time to measure social value.
Finally, the exciting bit – the action plan. Use the Index and supporting documents to plot your path to your chosen goal. You want to create a three-year programme? No problem, stick in a set of sub-tasks that let you see how you’re doing each year.
Our solution isn’t perfect. It’s a work in progress, but it does represent the latest thinking. The authors of the Index are particularly aware that the definition of ‘innovation’ within the Index is constantly developing – what is innovative now could well be mainstream in a year’s time.
But download the Index, have a go. It’s a great way to plot your progress and measure social value. And as always, get in touch if you have any questions about how to use it.