Social value is the quantification of the relative importance that people place on the changes they experience in their lives. Some, but not all this value is captured in market prices. It is important to consider and measure this social value from the perspective of those affected by an organisation’s work.
Examples of social value might be the value we experience from increasing our confidence, or from living next to a community park. These things are important to us, but are not commonly expressed or measured in the same way that financial value is.
Social value is the description of how a project creates value and a ratio that states how much social value in monetary terms is created for every £1 of funding
‘If £1 is spent on the delivery of services, can that same £1 be used to also produce wider benefit to the community?’
Public services (Social Value Act) 2012
The Social Value Engine (SVE) is not just a tool to calculate the social value you are generating. When you join the SVE, you gain access to The Engine Room, where we help you get the most out of your social value journey.
Individual licences are provided to named individuals who work within the purchasing organisation. These named individuals can be changed up to three times during any one contractual year through notification by e-mail, for example where a licence holder changes role or leaves the organisation.
Licence fees to be paid in advance
Further discounts may be available for smaller organisations in the VCSE sector
Services include all the features described for individuals in small organisations. In addition – batches of licences are provided where the Enterprise can deploy, and re-deploy, licences to users as they see fit – both inside and outside of their organisation
Our pricing approach for Enterprises is designed to promote collaborative working. Significant social investment projects generally require a catalyst or ‘convenor’. That might be a Purchasing Authority, a Council, a group of NHS Trusts, a public sector supplier or a large government department. These convenors require:
These benefits can only be realised by stakeholders having a common understanding, vocabulary, methodology and set of measures to forecast and evaluate the impact of investments and the social value they deliver. The SVE facilitates such an approach to achieve these benefits.
Licence fees payable in advance
A 10% reduction is available for a two-year agreement
A 20% reduction is available for a three-year agreement
Free for one year and for a single project. Then £250 plus VAT paid once, monthly in arrears, for subsequent projects.
We are keen to support Independent Social Value Consultants who have taken the time and trouble to achieve professional certification through SVUK. We believe we can offer you a number of benefits:
To measure social value, the eight principles of Social Value as set out by Social Value UK and Social Value International need to be heeded. The Social Value Engine has been designed to take each principle into consideration and has been accredited by Social Value International. Download our accreditation certificate. Social Value Engine is also proud to be a ‘Social Value UK Pioneer’ and ‘Social Value UK Partner’, reflecting our commitment to promoting transparent, responsible and reliable social value accounting. Download our accreditation certificate.
Ivan invented the Social Value Engine. He runs a social business which focuses on planning things, doing things and measuring whether they have happened. He has worked in economic development for over 30 years. He is a Fellow of the Institute of Economic Development and a Senior Visiting Fellow at the Lincoln International Business School.
Rab is responsible for growing the use of the SVE and creating a vibrant user community that influences its future development. He is a multi-decade experienced digital professional and has served as the elected chair of the trade body in Scotland, ScotlandIS. He has worked in a variety of leadership roles in large corporations and digital start-ups. Rab is a strong supporter of "tech for good", in particular empowering disadvantage young people to use tech effectively to live fulfilling lives.
Joanne is an accredited Social Value Practitioner who assists and supports organisations of all sizes to undertake the Social Value process, with extensive experience working in the private sector managing web-based products and account management to meet the needs of clients.
Conor works with organisations on the island of Ireland in helping them measure their Social Value, irrespective of the size or type of organisation. He has nearly 30 years of Project Management, Evaluation and Strategic Planning experience in a wide range of industries. He has also worked with a number of key funders in evaluating their programmes and groups they support. Conor is a firm advocate of the Community & Voluntary sector’s work, particularly how organisations can demonstrate their impact & effectiveness working with some of the most disadvantaged communities and client groups in today’s society.
Hayden' s role is working with clients to promote the practical application of the Social Value Engine. He has over 16 years’ experience in applied evaluation and consultancy, with an overarching interest in community development. His earlier projects involved research within the criminal justice system, but more recent interests include regeneration in rural and coastal places, ageing, social prescribing, and mental health recovery. Hayden also volunteers with Lincolnshire Rural Support Network, a service which supports farming communities and contributes to a service user forum for Lincolnshire’s talking therapies service. In his spare time, he enjoys walking by the sea.
The Social Value Engine was jointly developed by Rose Regeneration and East Riding of Yorkshire Council in response to the Public Services (Social Value Act 2012), which requires public bodies to think about how they can secure wider social, economic and environmental benefits. The engine works alongside and has incorporated Social Return on Investment (SROI) methodology and the seven Social Value UK principles.
The Social Value Engine has been developed to give our clients complete control of their social value calculations. Behind the tool is a team whose collective experience in social value totals more than 30 years. We are passionate about measuring social value for its own sake and recording those so-called intangible benefits. We also embed the theory and best practice of social value into every aspect of our training and support offer.