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This new research embodies the next generation of the UK Social Value Bank, taking it into a new dimension by exploring impacts of core housing activity, like repairs, maintenance and estate-based regeneration. This also represents a new, more holistic, way of thinking about these activities, which have been traditionally viewed as necessary to maintaining the quality of the home, but also as transactional and commercial areas of the business.
The ability to consistently measure these areas of work by extending the applicability of the Social Value Bank opens up a range of possibilities. It means we can talk across the business about how our work impacts residents. It means we can think differently, using this research to challenge some of the assumptions we once held about what we think residents want and what improves their wellbeing. And it means we can use this information, alongside other data and insights, to inform decision-making in new ways.
These values are a significant step towards being able to represent the impact on residents of the range of physical interventions to our homes. But there is more practical testing to be done to ensure the full potential of the approach is realised. We have developed ways of using these values internally so that they can have a constructive influence on investment decisions. We will now be developing a more operational report on how we use these values to share with industry so that health and wellbeing can be a key consideration when assessing the impact of investment.