Social impact measurement around the web

 

  • The Guardian ran an article on our first Wellbeing Valuation report. Wellbeing measurement could help landlords more effectively increase happiness of their tenants. For example, by showing that, though residents most often cite ‘space’ as their primary concern, prioritising space would actually have less of an impact on resident satisfaction than, say, increased noise insulation. Having a way to measure these non-economic factors means landlords can more precisely tackle issues that could really improve residents’ lives. 
  • Housing associations across country have taken lead on integrating social value into business plans, led by the HACT Wellbeing Methodology. Public bodies could learn a lot from Housing Associations. 
  •  A report published by Social Enterprise UK and Wates Group said that, of 200 landlords:
    • 71% say delivering social value has led to better service delivery.
    • 52% say it has resulted in cost savings.
    • 82% report that it has led to an improved image of their organisation.
    • 78% say it has led to better community relations.
  • Equity Foundation are part of the Equity Housing Group, and invest across South Manchester and South Yorkshire in community groups and charities which work to strengthen and improve neighbourhoods. Equity Foundation has made good use of HACT’s Social Value Bank to demonstrate that it generates on average £7.10 of social value for every £1 invested.  This allows them to show how stakeholders how their money is being invested responsibly, not only financially but also socially, and therefore makes it easier to attract and justify social investment.
  • One of main barriers to landlords measuring their social value has been finding a way to compare like-for-like the impact of a range of various activities. Whilst simple outputs and basic Value For Money can be measured relatively easily, measuring the impact on wellbeing of different projects has proven difficult in the past. HACT’s Wellbeing Valuation Approach offers a standardised way of calculating wellbeing impact of community investment programs and projects.
  • Your Housing Group have used Value Insight to select projects that generate social value, and to help justify, and focus upon, projects which offer the greatest impact, allowing more beneficial projects in the longer term. They have started including social value in the contract procurement, and supported partners to start measuring their social value. For example, during a regeneration projects in Anfield, social value was used to make the business case more tempting to financial investors, allowing decision makers to see a monetary added value, rather than merely a financial bottom line. Similarly, YHG used social value measurement to support West Cumbria Credit Union merger and secure external investment to enable it. Feedback from funders was extremely positive as a method of applying and measuring outcome evidence.
  • Gordon Ronald, Fusion 21, says using HACT’s social value and wellbeing indicator ‘allows us to demonstrate social value in a standard way. It makes it all auditable’.
  • Wellbeing measurement could help landlords more effectively increase happiness of their tenants. For example, by showing that, though residents most often cite ‘space’ as their primary concern, prioritising space would actually have less of an impact on resident satisfaction than, say, increased noise insulation. Having a way to measure these non-economic factors means landlords can more precisely tackle issues that could really improve residents’ lives.