Social value is the broader impact your organisation has on the local community and wider society. In procurement, social value goes beyond financial considerations to also focus on how purchasing decisions and chosen suppliers can benefit residents, promote equality and address sustainability challenges across the three key factors below.
Some examples on ways you can apply social value within your contracts, includes:
For public sector procurement teams, the need to use public funds effectively and responsibly is of paramount importance, so being able to understand and measure social value impact is key.
Leigh works collaboratively with organisations across the public & private sectors. He helps define procurement challenges and navigate the options, then proposing solutions to align with desired outcomes. He manages a client portfolio with services delivered from outsourced managed services down to short-term project support.
Economic
Employment opportunities, opening up apprenticeships and training
Social
Improving health and well-being for local residents, addressing social exclusion and building stronger communities
Environmental
Reducing carbon emissions, focusing on climate change, increasing sustainability and promoting biodiversity
To effectively maximise social value in procurement, organisations can take the following steps:
Define your social value objectives.
Incorporate your social value criteria.
Engage with your suppliers.
Monitor and measure.Not sure how to start? Get in touch for more advice.
Get our step-by-step guide to long-term success.
Our webinars feature some great tips and advice for improving social value in procurement, covering key themes such as:
Social Value is a common topic in procurement conversations, but how do you apply Social Value principles in practice? In this recorded webinar, Paula Jarvis MCIPS, Procurement Consultant and CIPS lecturer, highlights how to get to grips with the key social value themes early in the process as a foundation for success.
By eXceeding on 8 June 2023
This 45-minute webinar, hosted by Paula Jarvis MCIPS, Procurement Consultant, will demonstrate how to appraise the available routes to market through the social value lens, and capture and evaluate your social value requirements on a like for like basis.
By eXceeding on 21 April 2023
You’ve specified your requirements and selected your preferred supplier, what now? In this focused session, Paula Jarvis, Procurement Consultant, will discuss the importance and principles of contract management for delivering measurable social value outcomes.
By eXceeding on 21 April 2023
No matter where you are on your social value journey, eXceeding has a team of procurement experts who can support you. We can work with you to widen your social value impact, help you to identify the best supplier for your needs, work with your existing suppliers and identify meaningful reporting tools to provide feedback to your stakeholders.
We can also provide maturity assessments, training or workshops to increase your team’s knowledge, support with policy and documentation, contract management and continuous improvement.
We are committed to helping organisations maximise their social value and create a better world through procurement. Contact us to discuss your social value challenges.
Whilst speaking with our customers and their suppliers, we’re having more conversations around social value – especially in the public sector. But what does ‘social value’ truly mean and how can organisations build this into their procurement processes? This article offers a brief introduction.
By Leigh Hatfull on 21 April 2023
Why not book a free appointment to discuss your requirements in more detail with one of our experts.
We see procurement as a critical business process that must evolve with your organisation, not just a support function. Our expert procurement consultants will help you deliver greater value, maximise growth and improve business performance.
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