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Social Value

Social Value

Social Value is here to stay. Companies embracing it and being able to demonstrate a track record of compliance and future commitment have a strong competitive edge in winning business in the Public Sector.

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But what is Social Value?

With multiple definitions of Social Value doing rounds in the market extending from well-established standalone definitions to ones that overlap areas such as ESG (Environmental, Social and Governance), sustainability, CSR (Corporate Social Responsibility), and social impact, it is evident that Social Value is an evolving concept and area.

Social Value UK however defines Social Value as

The positive impact created by an individual, organization, or project, for the society and overall well-being of people, encompassing benefits that extend beyond financial profits or personal gains.

Taking the social, environmental, and economic aspects of an initiative into account the concept of Social Value emphasizes the importance of considering the interests of various stakeholders, such as communities, employees, customers, and the environment. It involves instilling sustainable and ethical practices that contribute to societal progress and address persistent social issues.



How to become Social Value ready?

Measuring Social Value involves assessing both qualitative and quantitative impact of an activity. This includes but is not limited to factors such as job creation, community development, environmental sustainability, improved health and well-being, and minimised inequality.

Organisations that prioritize Social Value aim to generate a positive change through meaningful actions that benefit the society as a whole. At Epscot we offer a solution that helps achieve a high standard of Social Value readiness for winning Public Procurement contracts.

The expert leadership at Epscot can be contacted for guidance on all Social Value requirements ranging from customised value assessment roadmaps, to tailored feedback on Carbon Reduction Plans. Our intuitive cloud-based Tool acts as a one stop solution, specifically designed to assist SMEs (small medium-sized enterprises) in managing and reporting on their Social Value.

Our Solution

We are committed to helping our clients achieve their goals and are always willing to go above and beyond to ensure success. Our ways of working are step-by-step and outcome-based, ensuring that all project targets and deliverables are met. Our offerings include:

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We offer end-to-end support from strategy design to implementation, and realising set outcomes.
We operate with high energy and clear vision, while always adhering to ethical standards. Our goal is to execute effectively, without sacrificing on quality or integrity.
We act as an extension of your management team, working collaboratively with you to achieve shared deliverables. Prioritising effective communication, we ensure everyone is on the same page throughout the process.
We understand that change can be difficult, which is why we provide hands-on assistance during the cross-functional collaborative process. We will work with you to ensure that the implementation process goes efficiently, minimizing disruptions to your business operations.

Clients

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Social Value was a new model for us and understanding it was vital to effectively describe our strengths and identify any significant gaps. The Epscot Social Value team supported us through accelerated understanding and deployment of Social Value, translating very complex guidance into an easy-to-understand concept via their tools and templates.

The importance of understanding our true impact in today’s world is crucial and Epscot helped us to achieve this, for which we are already realising benefits across the business.

Essity

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The UK government’s application of Social Value was a new model for us, understanding it was vital to effectively describe our strengths and determine our route map to achieving the ISO26000 standard. As well as being the right thing to do, the application of ISO26000 is increasingly viewed as a way of assessing an organisation’s commitment to its community and sustainability and its overall performance.

Epscot assisted us all the way in this journey. Their Social Value team supported us through accelerated understanding and deployment of Social Value, translating this very complex guidance into an easy-to-understand ongoing working practice via their all-encompassing methodology. With their full engagement and help, we have achieved recognition of this standard quickly and we are now leading the way to new levels of social responsibility.

Olympus

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The importance of understanding our Social Value impact in the UK is vital, and Epscot’s Tool has helped us translate how it applies to our business. The online Social Value Tool allowed us to accelerate our understanding, identify our strengths and determine opportunities for future improvements. Without a doubt, it is easy to use, good value, and a great help for SMEs.

P3 Medical

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The Social Value model is complex, and as a supplier to the NHS, we sought external guidance to understand it thoroughly. Working closely with the experts at Epscot has helped us identify our key strengths and areas for improvement in the Social Value arena. The Epscot team have supported us through the implementation of a Social Value Framework, working as an extension of our team. The importance of understanding & evidencing our social impact is crucial, and we have already started seeing the benefits of having our social value investments laid out in a logical and transparent way.

Medtronic