Using social value to inform community investment decisions

Using social value to inform community investment decisions Dawn Clark Community Projects Manager

Who are we? • Over 33, 000 homes • Across the North West, Yorkshire and the Midlands • Your Housing Group also provides homes for sale and shared ownership as well as Extra Care housing, sheltered and supported accommodation for older people and young adults • Our mission is "transforming your lives and your communities" • We do this by providing the people who live in our communities with a wide range of guidance and support services.

Community Sustainability & Regeneration • • • 4 Regional Teams Community Planning Performance framework 5 Strategic Themes Move towards asset driven sustainability model – right intervention, right place

Partnership with HACT • Working with HACT for past 2 years: • Impact on individual wellbeing – value insight • Audit with HACT April 2015 • Executive and Board Buy In

Achievements 2014 15 • • • £ 860, 000 External Investment secured 690 Volunteering hours £ 31, 660 raised for charity 811 residents secured employment & training 13, 075 residents engaged in health & wellbeing projects 4, 328 older people engaged in projects 2, 106 young people engaged in projects £ 1. 5 m customer benefit secured by Money Advice Team 1, 462 residents supported to sustain tenancies through ourv tenancy support offer • £ 18 m of social value created

Why use Wellbeing Valuation? • Compliments other forms of measuring impact of projects: • • Number of beneficiaries Impact to business -cost benefit Social Value – impact to individual Together provide a who impact picture • Provide evidence to stakeholders and funders of impact • Communication internally and externally what our investment is achieving – VFM, target within VFM strategy • Identify areas of investment that deliver greatest returns • Inform future investment decisions • Focus each pound on making the greatest difference in our communities

Example Allerdale Partnership • Allerdale BC, Executive Members YHG and Community • Joint Strategic programme focussing on areas of greatest need • Aligned priorities and projects • Attracted external investment

Projects • YHG have used Value Insight to select projects that generate social value • Helps justify/focus on the projects that will have greatest impact • Longer term more beneficial projects • Measure/Evidence the impact on individuals • VFM – Not just economic impact

Contractors/Suppliers Partners • Include Social Value in our contract procurement • Support partners to measure their social value • Help partners align priorities • VFM

Considerations • Time and effort • Phased approach – Community projects & employment & skills, Tenancy support & money advice • Buy in • Some projects don’t lend themselves to evidencing a wellbeing value –limitations of questions, length of provision, need to evidence an improvement to wellbeing • Recommend lots of testing and a gradual implementation

Thank You Questions?