Measuring the Social Impact of Community Investment: A Guide to using the Wellbeing Valuation Approach
Published: March 2014
Authors: Lizzie Trotter, Jim Vine, Matt Leach, Daniel Fujiwara
The Public Services (Social Value) Act 2012 requires housing providers to consider their social impact in procurement and commissioning and, increasingly, public sector bodies will expect their partners to evidence the value they create.
Existing approaches to measuring social value can be a poor fit for housing providers, whose work usually includes a wide range of community-focused investment as well as investment into bricks and mortar. In response, HACT has been working with social value experts and leading housing providers to develop approaches and tools to equip the sector to meet this challenge.
This report has been produced in conjunction with the Value Calculator. Click here to download the Value Calculator.
Since 2011, HACT has been working with Daniel Fujiwara, a leading expert on social impact valuation. Daniel’s work is based on Wellbeing Valuation (WV) theory, the latest thinking in social impact measurement and an approach he helped develop for government. Daniel’s first report on housing provider value ‘The Social Impact of Housing Providers’ published by HACT in February 2013, generated wide interest across the sector. This second report now which seeks to place values on the social impact of community investment activities. It includes values as well as practical guidance on how to apply them to achieve a basic assessment of social value.
*Please note as of October 2014, when downloading this publication it is required that you also refer to the Practice Notes publication which can be access by clicking here*
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