Sarah Hinchliffe explores the growing importance to Social Value in public sector tendering.
When I first came across the concept of social value, it certainly didn’t have capital letters! I can’t recall exactly when it was, but I thought it was mainly something for buyers to worry about and that, from my side, a few fluffy statements about recycling would suffice.
Those days are long gone. Social Value is gaining traction and starting to earn big points in public sector tenders; it is quite common to see it counting for 10% of the non-price element of an evaluation. As a result, there is a whole Social Value “industry” taking shape.
In this article, I share my Social Value journey so far and help you to fast-track your knowledge, score more points and win more business.
What is Social Value
To understand Social Value, it’s a good idea to first think about the words individually. In this context, “social” relates to society or its organisation and “value” refers to worth. Put them back together and Social Value refers to improvements to a community that can be measured.
The “social” part breaks down into three elements - economic, environmental and social (people and communities) – and you will typically hear talk of improving the “well-being” of these elements.
The “value” or worth can be expressed in financial terms, but other measures can be equally valid. For example: ...
*To continue reading, please click on the button below to download the attachment