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Social Value Update

June 24, 2024

Our Latest Social Value contributions & A New Certification

At One Wirral CIC, we are dedicated to creating meaningful social impact within our community. Our recent Social Value Portal quarterly report highlights significant achievements and sets the stage for our future initiatives. We also were recently awarded the Level 1 Social Value Management Certificate from Social Value UK as we wanted to prove our commitment to robust social value measurement and management.

Understanding Social Value and Its Importance

Social value refers to the broader non-financial impacts of programmes, organisations, and interventions, including the well-being of individuals and communities, social capital, and the environment. Measuring social value is crucial as it provides us a deeper understanding of the benefits that go beyond typical metrics. It allows us to put a number against our contributions to society, keeps us accountable, and continuously improve our strategies to maximise positive outcomes.

What Does the Latest SVP Quarterly Report Have to Say?

In our latest report, we proudly present a range of social value contributions that One Wirral has delivered:

  • Employment and Local Economy: We have generated £566,000 in social value by creating 19.08 full-time equivalent jobs for local residents. We also invested £646,000 within the local economy, resulting in an additional £129,000 of social value.
  • Community Support and Training: Our commitment to community support is evident with £25,100 invested in community projects, generating £25,000 in social value. Additionally, we provided 27 weeks of training opportunities, creating £17,000 in social value.
  • Volunteering and Apprenticeships: Our volunteers dedicated 114 hours, contributing £2,000 in social value. We also supported 98.75 weeks of apprenticeships, resulting in £17,000 in social value.
  • Support for VCSEs: We spent £54,800 with Voluntary, Community, and Social Enterprises (VCSEs) in our supply chain, generating £7,000 in social value.

Source: Social Value Portal – One Wirral Quarterly Review

Achieving the Level 1 Social Value Management Certificate

‘The Social Value Management Certificate looks at the systems and processes that an organisation or programme has in place for maximising social value.’

Our decision to apply for and achieve the Level 1 Social Value Management Certificate reflects our dedication to excellence in social value measurement and management. By integrating the Social Value Management Certificate into our operations, we aim to:

  • Enhance Reporting Accuracy: The certification ensures that our social value reporting is robust, transparent, and aligned with best practices, providing stakeholders with reliable data.
  • Improve Decision Making: With a certified framework, we can better analyse our social value data to inform strategic decisions and prioritise initiatives that deliver the most significant impact.
  • Foster Continuous Improvement: The certification process encourages ongoing evaluation and refinement of our social value practices, driving continuous improvement and innovation.
  • Improve our Environmental Contributions: This is our weakest area, but we’re all keen on continuing to look at implementing processes to make sure we’re continuing to reduce our carbon footprint as an organisation.

Future Steps for Social Value Enhancement

Building on our achievements and the certification, we are excited about the future steps in our social value journey:

  • Expansion of Social Value Initiatives: We will continue to expand our initiatives to create more employment opportunities, support local businesses, and invest in community projects.
  • Increased Stakeholder Engagement: Engaging with stakeholders, including community members, local businesses, and partners, will be a priority to ensure our social value activities are aligned with the community’s needs and expectations.
  • Innovative Approaches: We will explore innovative approaches and partnerships to enhance our social value delivery, leveraging technology and best practices to maximise impact.

At One Wirral CIC, we are proud of our contributions so far and committed to advancing social value. By continuing to measure, manage, and enhance our social impact, we aim to create a brighter, more inclusive future for our community.

For more details on our certification journey, please go and read the Social Value UK article.

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