Social value - benefits for your business
Social value is good for business. It creates more competitive and sustainable organisations. Social value is a great way of showcasing and raising the profile of your business and improving connections with local people and communities, potential customers or investors and developing partnerships with local schools; with the wider benefits of supporting local regeneration and the local economy.
Benefits for your business
- Increase awareness in the local area about your development/project.
- Increase local recruitment.
- Demonstrate local commitment.
- Sustainability of workforce and business – education/training.
- Eco-friendly travel.
- Increase connection with local partners.
- More attractive to local customers.
- Make a difference and leave a legacy.
Did you know?
The National TOMs framework is a widely recognised standard for measuring and reporting on social value. There are lots of ways your business can integrate social value into working practices, for example employing local residents and offering apprenticeships to support youth employment.
Other ways your business can support social value are:
- Offering an Individual Placement and Support (IPS) placement making a real difference to people in recovery, ex-offenders, and those with long-term health conditions.
- Donating surplus food and resources to charities who need them; Coventry Food Bank, Coventry Food Network, CovConnects, CollectEco, who will take office furniture that would otherwise go to waste and donate it to good causes.