Putting a value on young people's futures: Introducing SROI at Construction Youth Trust

Bridgeman, Jemma, Murdock, Alex, Maple, Peter, Townley, Christine and Graham, John 2015. Putting a value on young people's futures: Introducing SROI at Construction Youth Trust. Available at: https://socialvalueuk.org/wp-content/uploads/2016/...

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Abstract

The challenges measuring social value is not a new concept for the construction industry which is good at measuring costs, timings and efficiency of projects but not the benefits of intangibles such as good design even though design can promote everything from reduced crime to higher productivity (Macmillan, 2005). The measurement of social value has become increasingly important through the enactment of the Social Value Act 2012 requiring public authorities to consider economic, social and environmental well-being when awarding public sector contracts. Social Return on Investment (SROI) is an approach that can be used to measure the social, economic and environmental benefits of an activity by dividing the value of outcomes for stakeholders, by the inputs of the activity leading to the SROI ratio. The research reports on a project at Construction Youth Trust to develop a bespoke Social Return on Investment (SROI) model to capture the value of activities helping young people facing barriers access opportunities within the construction industry. The research examines the primary and secondary research that went into the development of the Trusts bespoke SROI model that was developed in partnership with the construction industry and part funded by construction company Willmott Dixon. Initial conclusions are that SROI is still under development and there are a lot of technical challenges to implementing the approach such as a lack of universal bank of financial proxies and the inability to compare SROI reports. Therefore implementing SROI is currently a time consuming and expensive process.

Item Type:	Monograph (UNSPECIFIED)
Status:	Published
Schools:	Social Sciences (Includes Criminology and Education) Wales Institute of Social & Economic Research, Data & Methods (WISERD)
Date of First Compliant Deposit:	8 November 2022
Last Modified:	08 Nov 2022 17:00
URI:	https://orca.cardiff.ac.uk/id/eprint/149642

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