For the first time, Career Connect has calculated the social value that we generate, in addition to the impact that we have through our contracted services.
Social value encompasses the broader positive impact organisations create in the communities in which they operate. It considers social, economic, and environmental outcomes and quantifies the benefits organisations bring to society as a whole.
Crucially, it captures the value organisations generate beyond what they are paid to deliver.
For third sector organisations like Career Connect, where social value is integral to the services we provide to schools, local authorities, and prisons, measuring and demonstrating this value presents a unique challenge.
To estimate Career Connect’s social value in monetary terms, we utilized the TOMs (Themes, Outcomes, and Measures) calculator, a standardised tool developed by Social Enterprise UK and the National Council for Voluntary Organizations (NCVO).
By identifying relevant themes, outcomes, and measures specific to various sectors and areas of our work, the calculator provides a methodology for quantifying the monetary value of our social value outcomes.
Using the TOMs calculator, we can see that the social value that we produce has come through:
- Promoting local skills and employment through the creation of apprenticeships, training opportunities and providing a Real Living Wage to our staff.
- Supporting responsible regional business growth through our support for mental health and wellbeing initiatives, equality and diversity, both for Career Connect and our local supply chains.
- Cultivating healthier, safer, and more resilient communities; and through our Beneficiary Fund.
- Decarbonising and safeguarding our environment through a range of initiatives to reduce our environmental impact.
Additionally, our collaboration with Positive Planet involves establishing a baseline and action plan for assessing our environmental impact and a measurable carbon reduction plan, to help us reach net zero by 2035. We will be tracking and reporting on our progress against this.
