Social Value Measurement

Whilst we must recognise the relative infancy of social value as a sector, accounting for social value is a fundamental element. We use robust and Government verified methods of measurement.

The dominant methods we use inhouse are: Cost-Benefit Analysis, Wellbeing Valuation and Local Multiplier Effect. We also use the principles which have been developed by Social Value UK to ensure that our figures are as accurate as possible in reflecting the true value to individuals and the community.

The values from our Cost-Benefit Analysis are taken from the HM Treasury endorsed GM Unit Cost Database and are used to measure outcomes such as employment in terms of their value to the public purse and the economy.

We use Wellbeing Valuation as a process to capture changes to individuals or communities which might not have a financial figure attached, but are a result of well-implemented education, employment or training programs. For example, increased confidence, reduced isolation and improved mental health.