In this, the fourth blog in our series on social value, we look at the power of data.
As we’ve mentioned earlier in this blog series, social value is no longer a ‘nice-to-have’ and now accounts for at least 10% of marks in tenders.
According to the Public Services (Social Value) Act 2012 and subsequent procurement policy, the focus has shifted from intentions to delivery, so simply pledging to help the community, create local jobs or volunteer is no longer sufficient. Commissioners now expect to see measurable, credible outcomes when it comes to demonstrating social value.
This is where the power of data comes in.
How can you quantify social value in a tender bid?
The good news is that it is easier to track and measure social value than you might think.
We recommend using Balloon Social Value Manager, a software platform specifically designed to craft, monitor, measure, track and improve social value propositions easily and intuitively.
It enables you to set activities and goals bespoke to your organisation – for example number of hours of volunteer time, number of apprenticeships created, money going back into the local economy, reduction in carbon emissions etc.
Once you have set the activities and Key Performance Indicators (KPIs), the software can be used to track progress, capture data on outcomes, review delivery against commitments and produce reports.
How to use data in a tender bid
Once you have gathered the data, you can break this down into themes and build this information into your answers to questions in the bid, such as skills and employment, local economy and environment.
In addition to this, you can use the fact you have means to track social value impact to build trust and credibility going forward, should you win the contract.
You can provide examples of how your organisation can set quantifiable, bespoke social value targets important to the commissioning company and then provide metrics and transparent reporting during and at the end of the contract period, which could give you the edge over your competitors.
For example: “We will deliver 200 hours of volunteering in the local community over the contract term, measured monthly through the Balloon Social Value Manager platform which will report actual hours, participant demographics and partner organisation details. Data will be reviewed quarterly by our social value lead to ensure we are on track to exceed the baseline by 5%.”
How to get started
Look at any previous tender bids you have put together and review the social value questions. What information were they looking for? How can you create trackable KPIs for your business in these areas? How can these aims and targets be embedded into your organisation and its daily operations? How can you get your team onboard, living and breathing social value and bringing it into everything they do?
Once you have decided on your targets and believe you can track and measure the activity, use a tool like Balloon Social Value Manager to hold your data and provide reports.
In an era where social value is no longer optional but integral to contract wins, data is your competitive edge. You cannot simply say you will create social value, you need to show how you can deliver it, monitor it and report on it during and after contract delivery.
Need help mapping out your social value strategy, setting your targets or embedding a data-driven approach to social value? We can help. To talk to a member of our team, call 0330 133 8823 or email info@klowconsulting.com
For more detailed information on Balloon Social Value Manager can be tailored to your specific needs, go to https://klowconsulting.com/balloon-social-value-manager/.