Are you demonstrating Social Value?
As part of the Government’s new Social Value policy, companies are now having to measure how they are promoting new jobs and skills, encouraging economic growth and prosperity, tackling climate change and levelling up the UK.
The Social Value policy came into effect on 1st January 2021, this means central government will now be required to go further than the measures of the Public Services (Social Value) Act 2012. This means all major procurements will have to actively evaluate the real social value, and not just consider it.
This means any UK government department procuring IT services will be assessing a supplier’s social impact, which means that the supplier will need to demonstrate, this includes the full extent of the value being generated. It also means that while value for money is still paramount, a bidder’s social value score will now be incorporated into assessment of contracts.
Each government department will assessing the wider positive benefits the supplier will deliver by using the social value model to assess and score suppliers The benefit is that as well maximising value for money it will also build a supplier base who is contributing to society.
The four elements of the social value model are:
- Helping local communities manage and recover from the impact of the pandemic
- Creating new businesses, jobs and skills, and increasing supply chain resilience to tackle economic inequality
- Fighting climate change and reducing waste
- Driving equal opportunity
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