Social Value

Social value is about maximising the impact of public expenditure. It looks at what is created, and sometimes what is forsaken, through a commissioning process. It is therefore also about what we value in the public realm.

Social value considers more than just the financial transaction. It includes:

• Happiness
• Wellbeing
• Health
• Inclusion
• Empowerment

These types of value often accrue to different people, communities or organisations and are not always easy to measure. This doesn't mean they shouldn't be part of a commissioning process.

In legislation 

Social Value is now enshrined in legislation through the Public Services (Social Value) Act 2012. Read about the Act here. 

Defining social value

Social value has no single agreed definition. Here are two:

"additional benefit to the community from a commissioning/procurement process over and above the direct purchasing of goods, services and outcomes."
The Social Value Commissioning Project conducted by North West NHS defines

"social value refers to wider non-financial impacts of programmes, organisations and interventions, including the wellbeing of individuals and communities, social capital and the environment. These are typically described as 'soft' outcomes, mainly because they are difficult to quantify and measure."
Measuring Social Value, Demos

Getting the most impact for £ spent

When 'purchasing' a public service, the headline figure of price might not seem the best value for money; however when wider social value is considered it could be much better value.

Where can social value purposefully be embedded into a commissioning process?

Find out more

• Read our latest briefings and discussion on social value
• Informatino on the Social Value Act
• Get in touch with the commissioning and procurement team
• Join the navcaboodle social value group (free login) for more resources, discussion and people interested in social value

Links

Further information on social value from around the country and the NAVCA membership.