Central government contracts require Social Value requirements weighted at a minimum 10% of the total award criteria used. This means that businesses looking to bid into central government are required to demonstrate Social Value.
Social Value is described by Social Value UK as ‘the quantification of the relative importance that people place on the changes they experience in their lives’. So for procurement this means that social value is created by the positive changes brought about by the contracts we agree on.
At Value Match we use a unique Socially Purposed Procurement Cycle, which places social value at the heart of every stage of the procurement process.
We start by focusing on creating social value that is integral, in other words, most relevant, to the nature of the goods, services and works to be procured. Consultation is key to understanding and analysing the needs of the organisation and stakeholders, as well as the capabilities and capacity of suppliers to provide the social value sought.
The procurement should be designed, conducted and benefits managed with social value creation emphasised in every aspect of the process.
As the way that the process is conducted can create (and destroy) social value: we can make a positive change in people’s lives by the way that we work, not just by how we define what we need as a buyer or what we can provide as a supplier.
At Value Match we see social value as capable of being created through a definition of 6 values:
Responsible Action: Ethical purpose enacted via accountable and transparent management and leadership.
Value People: How we respect, care for, and protect employees, consumers, workers within the supply chain and people in wider society.
Sustainable Prosperity: Thriving individuals and organisations driven by the creation of training, employment and commercial opportunities.
Value the Environment: How we can protect and enhance our natural world.
Value Community: Providing support for communities of place and thought.
Value Relationships: The making of successful relationships with furtherance of mutual interests and collaborative working.
Most notably, our 6 Values further define the traditional social, economic and environmental pillars of social value to emphasise the importance of taking responsible action and developing relationships. Both of which are fundamental to carrying out procurements and bidding successfully for contracts.
Our 60-minute course provides a fresh and innovative perspective on how you can create wider benefits for society and move to a net zero economy, by the way that you procure and bid for contracts. Not just by how you define what you need or supply. Discover more.
Our 6 Values message is spread by our charitably purposed organisation: Value Match Foundation.