The Social Value Quality Mark Process



 

Plan It

The Plan It stage researches and audits the extent to which the organisation has strategically and operationally approached the measurement and accounting of social impact and value, and that of direct, indirect and wider impact and value.

Key audit areas:

  • Defining the purpose, scope and expectations for undertaking impact and value measurement within the organisation.
  • How the measurement will be aligned to the organisation strategy and plan for implementation and future reporting.
  • Clear identification of a sponsor at board level and the knowledge of the individual/team responsible for undertaking the report.
  • How the approach to accounting for value can be embedded within the organisation and replicated in the future.
  • Demonstrating how health, education, employment, justice, housing, community, environment and economic value will/has been considered in the approach to measuring value.

Pre Start

Preparation is key to the successful completion and transparent reporting of social impact and value. Therefore, the SVQM considers the approach undertaken prior to the start of value measurement.

Key audit areas:

  • How stakeholders have been mapped and broken-down into typology and prioritised accordingly.

Demonstrating how research and engagement methodologies have been created to ensure transparency and promote legitimacy.

  • How the decision and rationale has been made to include stakeholders and what/where impact and value will/has been measured.

Research It

This stage focuses on stakeholder engagement and research to understand what stakeholders value most and to measure against these values regarding outcomes, impact and value. This process is also known as ‘Values Intelligence’.

Key audit areas:

  • Researching stakeholder values and how these have been considered and embedded in the measurement of impact and value.
  • How the full range of stakeholder outcomes and impacts have been researched and recorded.
  • How stakeholder trust in the organisation has been measured.
  • How partners and collaborators have been engaged to account for the strategic and operational effects on them.
  • How the locality of outcomes and impact have been researched and considered.

Prove It

The Prove It stage focuses on engagement and effective consultation with stakeholders and how research has enabled creditable information and data to be recorded to support future legitimate social impact and value claims.

Key audit areas:

  • The clear and transparent demonstration of information and data collected during stakeholder engagement.
  • The clarity of information and weather a clear methodology has been adopted when engaging with stakeholders.
  • How the research questions have been used to confidently gain clear and defined outcomes and impact.
  • How internal information sources have been used to define outcomes and impact and support possible outcome and impact conclusions.

Value It

The Value It stage focuses on how information and data has been analysed, interpreted from stakeholder research and transparently recorded to be able to confidentially map all outcomes, impact and value.

Key audit areas:

  • The methodology used to make the transparent and legitimate claims of outcomes and impact.
  • How researched qualitative information has been used to draw trusted impact conclusions.
  • How quantitative data has been used to enable trusted impact conclusions.
  • The review of a social value map that has been created to record and define the impact and value for each stakeholder.
  • How the locality of impact and value has been analysed, evaluated and recorded.
  • How external influences have been captured and interpreted and how partners and collaborators have been effected by your organisation.
  • How the relationship between the organisation and their stakeholder been measured.
  • What sources of information/data and reference points have been used to linked impact to value.

Report It

The Report It stage focuses on transparent and legitimate recording and reporting of the full impact and value created. This relates to direct or indirect impacts and value of services being delivered and specific models being used.

Key audit areas:

  • Demonstrating how health, education, employment, justice, housing, community, environment and economic impact and value has been created.
  • How financial and non-financial impact and value has been recorded transparently to enable the successful demonstration of the cost savings, resource and capacity effects on stakeholders.
  • A clear demonstration of the locality and demographic of those stakeholders who have been affected by the organisation.
  • A clear demonstration of the level of engagement, trust and legitimacy that stakeholders place on the organisation.
  • How impact and value is created by the organisation and its level of influence on others.
  • Clear evidence have been recorded relating to the methodologies used, information and reference sources.
  • How the report has been developed to enable clarity and trusted impact and value.
  • How the organisation makes a clear and strategic commitment to transparently report social value in the future.
  • How the organisation will learn from the impact and value created and will use it to enhance future impact and value creation.
  • How the organisation has demonstrated its impact and value is a format and location that is accessible to all.

Verification will be based on providing documented evidence to the Social Value Business that demonstration the social value reporting process, procedure and systems have been followed.

Award It

The Social Value Business is the awarding body of the Social Value Quality Mark and will under licence provide the authorisation to award the mark to qualified auditors.

In the event that the organisation successfully achieves one of the SVQM award levels, a ‘Certificate of Compliance’ will be awarded along with the authorised use of the SVQM logo and an inclusion on the Social Value Business on-line directory where a summary of the organisations’ social value will be displayed against the name and its location.

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