Social Value Mythbusting
Understanding Small-Scale Social Value
Social value has grown in importance during the tendering process over the past few years. Following the introduction of TOMS, more focus is being placed on the positive impacts your business makes and social value is becoming essential to winning tenders for growing your organisation. Understanding social value can often feel daunting and confusing so to help we have created this article to offer guidance in recognising the social value already present in your company or new ideas to implement.
What is Social Value?
Social value in tenders refers to the positive impact a business or project has on the wider community and environment, beyond simply fulfilling the contract’s requirements. It encompasses a range of factors, including environmental considerations, economic benefits, and social enrichment.
By demonstrating a commitment to these aspects of social value, your businesses can increase the chances of winning contracts and contribute to a more sustainable future.
Environmental Considerations
With rising concerns over Climate Change and environmental awareness, the environmental impact of businesses is one area of importance for Social Value. These impacts can be on a large-scale, but we have provided some smaller-scale environmentally conscious actions you could adopt- or might already be doing:
- Resource Conservation: Many businesses adopt practices that minimise waste, conserve energy, and reduce carbon footprint. This might involve using energy-efficient appliances, implementing recycling programs, introducing digitised forms, locally donating old IT equipment, and using water-saving measures (e.g., flow taps).
- Improving Transport: Fuel emissions are one area of improvements for companies to be environmentally conscious. Initiatives like cycle-to-work schemes, fleets of electric cars, links with local transport companies, offering hybrid or work from home options, and route optimisation technology help to reduce your carbon emissions.
- Sustainable Sourcing: By prioritizing local suppliers, transportation emissions associated with long-distance shipping are reduced. Choosing eco-friendly packaging materials or office supplies (e.g., recycled, biodegradable) reduces wastage.
Economic Benefits
Another area of social value includes the impact of your organisation on the local economy. Some key impacts could include:
- Job Creation: Recruiting and hiring local people to stimulate local economies and provides livelihoods for countless individuals in the nearby area.
- Fair Pay and Working Conditions: Pay fair wages and provide good working conditions, exceeding minimum requirements where possible, to support the local economy. Businesses could also offer flexible working arrangements to accommodate diverse needs and investing in employee well-being initiatives (e.g., mental health support, childcare assistance) to support staff.
- Skills Development: Many companies invest in training and upskilling their workforce to create a more skilled and competitive labour pool. This includes any specialised training employees or apprenticeships offered and benefits both employees and the wider economy as it produces more jobs.
- Supporting Local Supply Chains: Prioritising working with other local businesses, creates a ripple effect of economic activity that strengthens local supply chains. This can include sourcing products from local companies, hiring staff with similar experience from local companies, and actively seeking out diverse suppliers.
Economic Benefits
Businesses often have deep roots in their communities, leading to various forms of social enrichment:
- Community Engagement: Many businesses actively participate in community events, sponsor local initiatives, and support charitable causes, fostering a sense of belonging and social cohesion. This includes working with local environmental initiatives (e.g., tree planting companies, litter picking events, green space protection), partnering with local schools and educational institutes for talks or open days, holding social events (e.g., coffee mornings), or donating or fundraising with local charities.
- Promoting Diversity and Inclusion: Businesses often reflect the diversity of their communities, creating inclusive workplaces that celebrate differences. This can be evidenced through company policies, like Equality & Diversity recruitment policies, providing diversity training for all staff, advertising jobs in local places of worship or promoting religious events or celebrations.
Harnessing Your Hidden Social Value
The reality of this is that most of these actions are already in place without you realising it. But when it comes to bidding for contracts, it is crucial to highlight these contributions and how you are proving extra value outside of contracts. Here’s where a bid writer can be invaluable. We can help you articulate your social value in a way that resonates with buyers and sets you apart from the competition.
If you’re preparing a bid and want to ensure your social value shines through, get in touch. We’re experts at translating good intentions into winning proposals. You can see more on our bid writing service HERE. If you would like a quote, please complete the contact form below and our team will be in touch. You can read more about social value from the Local Government Association HERE.