Today, it’s not enough for organizations to be profitable; they must be purposeful too. As environmental, regulatory, and consumer behaviour pressures continue to increase, organisations must seek out a way to ‘do good’ above and beyond driving revenue.
Proxima’s Social Value Report provides a framework for designing and embedding social value, through procurement, to realize benefits for both the organization and surrounding community.
The report also explores how the UK Public Sector is leading the way. With legislation including the PPN 06/20 dictating social value must be included within procurements at a weighting of at least 10%, we look at how public organisations are implementing best practice through real-world examples that bring this topic to life. Successful social value programs include:
- National Highways developed a social value framework which has accelerated the development of National Highways’ standard approach to implementing Social Value.
- The West Midlands Combined Authority’s approach focussed on the region’s social, economic, and environmental well-being. The approach has resulted in the development of a Category Toolkit to help identify which social value outcomes to focus on in its procurements.
- Manchester City Council uses its influence to drive social value through procurement, focusing on supporting local communities, vulnerable adults, domestic violence victims, rough sleepers and the long-term unemployed.
There is a renewed impact and responsibilities on suppliers; a context explored in the video above. Proxima’s Social Value experts, Beth Bradley-Smith and Gemma Thompson highlight the importance of supplier collaboration, internal and external communication, and alignment to an overarching strategy.
Access Proxima’s social value report here.
