Enabling organisations to measure and demonstrate their impact in society
The SVQM is the only mark of social value within the UK, recognised by the UK Cabinet Office, the Foundation for Social Entrepreneurs (UnLtd) and the Social Investment Business. It is awarded to organisations in recognition of their commitment, measurement, reporting and embedding of impact and value. It can be awarded to organisations of any size, in any sector and any legal structure.
What is social value?
The definition of Social Value is still emerging; interest in the term has increased with the introduction of the Public Services (Social Value) Act of 2013 which states:
“The Public Services (Social Value) Act requires public authorities to have regard to economic, social and environmental well-being in connection with public services contracts; and for connected purposes” – UK Cabinet Office
The Act requires certain public authorities at the pre-procurement phase of procuring services to consider how what is being procured might improve the economic, social and environmental well-being of an area and how the authority might secure that improvement in the procurement process itself.
Social Enterprise UK states that: “Social value is a way of thinking about how scarce resources are allocated and used… and what the collective benefit to a community is when a public body chooses to award a contract.”
The SVQM incorporates the stakeholder perspective of Social Value, which relates specifically to the ‘value’ that those who have a stake in the organisation award to the organisation and the relative importance of changes that occur to stakeholders as a result of an activity or intervention.
In addition to incorporating the stakeholder perspective into the core of the SVQM, both the Social Value Business and Social Enterprise Works adopt the value perspective in their own perspectives of Social Value defined as “of value to people in society”.
What is the Social Value Quality Mark?
The SVQM is a way of evaluating and showcasing your organization’s social impact and value, using an approach that centres and engages directly with your key and most influential stakeholders.
The aim of the SVQM is to create a transparent, legitimate and trustworthy Social Value system that demonstrates the true value of an organisation’s impact and provides its stakeholder with a mark of quality and achievement that anyone can trust. The Social Value Business have a combined experience of over 30 years working and supporting social value organisations.
The Social Value Quality Mark is awarded to organisations who demonstrate to the auditor that they are able to transparently comply with the 8 key stages of social impact and value reporting. An accredited social value team member will be allocated to work with the organisation to support them through the key stages, or to carry out an onsite audit of impact and value claims.
How does it work? – The Stages
The Social Value Quality Mark has four distinct levels, and is made up of a number of stages including pledges, forecasting, evaluation and organisational-wide adoption. It is a guided journey of measuring value, and it is not about a specific approach or model. This way, it is possible for organisations to benchmark themselves against each other.
We support organisations to demonstrate their full and diverse social impact and value using a blended approach. We use a range of social accounting models including Social Return on Investment (SROI), Local Multiplier Effect, Value Intelligence Programme, Partnership Value and Social Contract.
SVQM Level 1 consists of an organisation making a series of Social Value Pledges that demonstrate the organisation’s commitment to measuring and reporting its Social Value within 12 months (Requires Internal Commitment Only).
SVQM level 2 is a Social Value Prediction that sets out an organisation’s expected social value during a 12 month period for a service, department or project (Independently Verified).
A Lite Social Value Quality Mark that recognises that an organisation has measured and produced a social value report for a service department or project (Independently Verified).
A Full Social Value Quality Mark that recognises that an organisation has measured and reported their Social Value across the organisation and has a robust framework and quality systems in place to measure, collect and analysis data (Independently Verified).
A social value consultant will be allocated to you:
- They will review your needs and current progress to compliance and provide the most suitable course of action.
- They can set out recommendations and options on how to achieve the compliance and the Social Value Quality Mark in the shortest period.
- They can carry out a pre-audit on your current systems for the capture and evaluation of social value.
- They will recommend and provide training, mentoring and consultancy to develop internal skills and knowledge within your organisation.
- When ready, they will carry out the verification process; if evidence is available to confirm the successful achievement to the minimum standard, they will award the Social Value Quality Mark in principle.
- If required, they can carry out the social value review and evaluation.
- The Social Value Business will review the recommendations and award the organisation the Social Value Quality Mark for a period of 2 year
Social Value clients
The Social Value Quality Mark has been adopted by some of the most influential and leading local, regional and national public, private and third sector organisations within the UK to develop and showcase their social impact and value.
SVQM clients include: UK Cabinet Office; Trafford Council; Swindon Borough Council; Royal Borough of Greenwich; Shelter; YMCA; Knightstone Housing; Circle Housing; Sirona Care and Health; North Somerset Community Partnership; UnLtd; and the Social Investment Business.
Social Value Brokerage
If your organisation needs to engage local partnerships to create additional social value, SEW has an expansive and trusted network of over 800+ social and community enterprises in the West of England and beyond. We can act as an honest broker to help identify and engage the most relevant organisations to collaborate with in order to increase your impact in society.
How we can support you
SEW works with organisations regardless of size, legal structure and sector as our approach is based on moulding our approach and support to meet any needs.
To find out more about how the Social Value Quality Mark could enable your organisation to better evidence, demonstrate and communicate your social value and impact on society, get in touch for a free consultation: firstname.lastname@example.org