Impact And Social Value
Building better social value, impact, and sustainability measures is crucial for demonstrating the VCFSE sector’s value in creating positive change within Somerset communities. Ultimately, robust social value and sustainability measures strengthen the case for investment in community-focused efforts, amplifying the reach and effectiveness of services that benefit society.
An exploration of social value measurement tools is currently underway to identify the most effective solution for implementing recognised social value measures and gaining meaningful insights into the impact delivered by the VCFSE sector across Somerset.
Social Value Measure Tools Being Investigated
The Social Value Engine was jointly developed and is co-owned by Rose Regeneration and East Riding of Yorkshire Council in response to the Public Services (Social Value Act 2012), which requires public bodies to think about how they can secure wider social, economic and environmental benefits.
The engine works alongside and has incorporated the Social Return on Investment (SROI) methodology and the eight Social Value International principles.
Social Value measurement and reporting is now critical for business. Stay target-aligned, evidence-based and impact-focused with the Social Value TOM System – the only measurement framework underpinned by government data, endorsed by the Local Government Authority and co-created with stakeholders in the Public and Private Sectors.
Design, capture and quantify Social Value across 116 clearly defined measures that keep your Social Value initiatives focused.