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Tag: social impact measurement

Social value is about to get serious: are you ready?

Posted on by Philip Webb

From October 1st, every public sector contract in the UK will have to take account of social value in the award process. That’s thanks to the updated Social Value Model under Procurement Policy Note (PPN) 002.

Sounds niche? It’s not. If you supply to the public sector (whether you’re a multinational or a small business) this change could affect you.

Until now, social value in procurement has been a nice-to-have. A box to tick. From October, it’s mandatory. Buyers will have to score your bid not just on cost and quality, but also on the social impact you bring.

What counts as social value?

Think:

● Are you supporting your local community?

● Are you creating jobs and skills?

If you can prove it, you’re in a stronger position to win. If you can’t, you could lose out – even if your price is competitive.

Why SMEs and supply chains should care

You might think: “We’re only a small business, this doesn’t apply to us.” But public sector procurement isn’t just about billion-pound contracts. Councils, NHS trusts, schools, and local authorities buy from SMEs every single day.

And here’s the kicker: if you’re in the supply chain of a bigger company that bids for public contracts, they’ll soon be asking you for evidence of your social value too.

So whether you’re front and centre on a tender, or part of someone else’s supply chain, you need to be ready.

How do you prove your social value?

It’s not enough to say you do good things. From October, buyers will want measurable outcomes. The Social Value Model sets out five key themes:

1. COVID-19 recovery

2. Tackling economic inequality

3. Fighting climate change

4. Equal opportunity

5. Wellbeing

If you can show practical action in these areas (and put numbers against them), you’ll stand out.

How to measure and report social value

The good news? This doesn’t need to be complicated. With the right platform (hello, IIC), you can log, measure, and report your impact in a way that buyers trust. Whether you’re planting trees, volunteering hours, or making donations, you’ll have the data to back it up.

What to do next

Don’t wait until October to figure this out. Start embedding social value measurement into your business now – before your competitors do. Because when the new rules land, the companies that can show proof will have the edge. And those who can’t? They’ll be left scratching their heads, wondering why they didn’t get the contract.

Social value belongs in every boardroom and every bid. Whether you’re a maincontractor or part of a supply chain, the message is the same: prove your impact, or prepare to lose out. At IIC, we help businesses of all sizes turn giving into growth.

How social impact drives business success

Posted on by Philip Webb

Social impact is a powerful strategic driver for success. When companies embed social impact into their core operations, they experience a range of benefits that go well beyond good publicity. In this article, we’ll show you how social impact can become a powerful catalyst for growth and long-term success for your business.

Building brand loyalty and trust

Customers and stakeholders are increasingly choosing to support businesses that demonstrate a genuine commitment to social impact. By aligning with causes that matter, companies build loyalty and trust among customers, which can lead to increased brand affinity and repeat business. When businesses can authentically show that they’re making a difference, it resonates with socially conscious consumers.

Attracting and retaining top talent

People want to work for companies that share their values and commitment to social responsibility. A strong social impact strategy can set a business apart in the competitive job market, helping to attract high-calibre employees who are motivated to contribute to a purpose-driven culture. Retention rates improve too, as employees who feel they’re making a positive impact are more likely to stay.

Enhancing operational efficiency

Integrating social impact streamlines operation, as well as reaping the rewards of external benefits. Socially responsible businesses often have clearer governance structures and policies, which translate into more efficient operations. The Investors in Community (IIC) platform, for instance, allows businesses to manage, track, and report on their social impact activities, saving time and reducing the administrative load.

New market opportunities

A commitment to social impact can open doors to new partnerships and client bases. Businesses with strong social value credentials are often favoured in procurement processes and by investors. In fact, many investors now consider a company’s social impact as part of their decision-making criteria. By adopting transparent and verifiable social impact practices, businesses can expand their market reach and appeal to a broader audience.

Mitigating risks and strengthening reputation

Social impact initiatives contribute to risk management by helping businesses avoid reputational damage associated with unethical practices. Platforms like IIC provide transparency and verification for social impact activities, which helps businesses steer clear of greenwashing and demonstrate genuine commitment. A strong reputation in social value can be a buffer against future challenges, safeguarding the business’s long-term viability.

How the IIC platform supports social impact

The Investors in Community platform provides a structured, transparent way for businesses to manage their social impact journey. By tracking all types of contributions, from donations to volunteer hours, businesses can see the tangible benefits of their efforts, both for the community and their own success. With IIC’s streamlined reporting and Community Credits system, every act of giving is measured, rewarded, and available for stakeholders to view.

Take the first step towards impactful success

Social impact is a pathway to sustainable growth and success. Discover how your business can enhance its operations, build brand loyalty, and drive growth through social value. Visit our website or book a demo with IIC to learn more about integrating social impact into your strategy.