How do we measure social impact? We recently announced that our collaboration with East London NHS Foundation Trust (ELFT) has delivered £14.9 million in social and economic value.
ELFT provides mental health, community health and primary care services to 1.8 million people across East London, Bedfordshire and Luton. It focuses on improving the quality of life for its service users through continuous improvement and collaboration with partners. We also have past efforts working with West London NHS to promote healthier eating and social interaction.
As one of the ELFT’s trusted partners, we were able to work together to boost local employment, create training opportunities and provide wellbeing and community support. To quantify the impact, our collaboration aligned with the government’s social value framework which is measured using TOMS (Themes, Outcomes and Measures) methodology.
Measuring social value
Typically, social value can be difficult to measure as it often involves complexities that can be hard to quantify and add monetary values to. Yet, reporting on social value is becoming increasingly important as it can not only help drive business decisions, but it is also being considered in tenders and contracts.
Social Value Portal states that since the Public Services (Social Value) Act came into force in 2013, public service commissioners are obliged to think about how they can secure wider social benefits from their contacts. However, the impact of the act can be limited as there is often poor understanding as to what social value outcomes are and how they can be measured.
The TOMs framework aims to address this challenge by providing a standardised, structured and transparent set of categories and metrics that enable organisations to report on their positive social impacts.
Here is a breakdown of why TOMs is a valuable tool:
- Developed by the Social Value Portal, it aims to provide a minimum reporting standard to help buyers measure and justify the requirement of social value outcomes in their contracts.
- It is considered the leading method for measuring social value within the UK government. Therefore, it is widely adopted across the public sectors, with most central government departments and a large portion of local councils incorporating it into their procurement processes.
- It provides a structured way to assess and communicate the positive social contributions of an organisation across various areas like employment, economic growth, community wellbeing, and environmental sustainability. Clearly defined outcomes and measurable indicators enables robust data collection, providing credible evidence of social impact.
- The framework allows organisations to tailor their social value assessments to specific local priorities and needs, ensuring that their actions are aligned with community concerns. Additionally, its standardised format enhances transparency and allows stakeholders to easily understand its methodology.
- It facilitates the ongoing monitoring and evaluation of social value, enabling organisations to identify areas for improvement and adapt their strategies based on data.
Our Impact
By adopting the TOMs framework in our collaboration with ELFT, we have been able to clearly demonstrate social and economic impact of our activity. Key highlights include:
- Local Employment: Our initiatives have created numerous job opportunities within the community, helping to reduce unemployment rates and boost the local economy.
- Training Opportunities: We have provided extensive training programmes, equipping individuals with the skills needed to thrive in the healthcare sector.
- Wellbeing and Community Support: Our efforts have significantly improved the well-being of service users, offering vital support and resources to enhance their quality of life.
As we move forward with our social value journey, we remain committed to leveraging reporting tools such as the TOMs framework to effectively measure our social and economic impact. This will be crucial for understanding the value of our initiatives and ensuring that we continue to make a positive difference in the communities around us.
Learn more about our social value initiatives here.
