Social Value

The Social Value Act, which was introduced in 2013 requires public sector commissioners to consider how they can secure wider social, economic and environmental benefits from their procurement.  The more social value, the more inclusive and sustainable growth and economic development becomes; and this is now a significant component of tender scoring and assessment.

The Institute of Economic Development (IED), recently carried out a major piece of research into how social value was being delivered within the construction sector.  Despite this sector being relatively well developed, the IEDs findings were that there is a very long way to go and a multiplicity of challenges that need to be overcome, and it set out five key recommendations.

As experts in delivering social value, we help public sector procurers navigate through the many tools for quantifying, monitoring and evaluating it to select the most appropriate for your particular project, create your social value strategy, and carry out community engagement and need assessments to help inform your strategic social value outcomes. We also provide ongoing project monitoring and evaluation, providing the golden thread of ensuring social value gets delivered from conception to completion.

With the UK being the most unequal country in the developed world, and with levels of disadvantage increasing on almost every metric, ensuring that you secure maximum impact and outcomes from your public procurement is vital to help level up our economy and support left behind communities and individuals. YTKO can help you achieve this aim – get in touch to find out more.