Some clients occasionally conflate or confuse social value and added value when bidding for public sector contracts. We explain their differences, ideas for both topics and how best to respond to them within the tende...
The Social Value Practice
In 2020, Executive Compass launched a specialist division, The Social Value Practice, to provide expert social value support, both for tendering and as a standalone consultancy service.
The passing of the Public Services (Social Value) Act in 2012 (Social Value Act) changed the way publicly accountable organisations contract. It has meant that local needs and local businesses could be prioritised, and redefined “Best Economic Value” (BEV). Our involvement in writing tenders made us realise that we could contribute by helping our clients win more tenders at the same time as contributing to the success of their local community.
The aim of the Social Value Practice is to help organisations meet the requirements of the Act but, importantly, to help them to provide real social value and impact by doing the right thing, at the right time for the right people.
Our goal is to make social value easily understandable for every organisation and to provide advice and consultancy so all can benefit from the social value and the wider impacts on society.
The Social Value Practice was founded by Neil Capstick and Dr Hugo Minney in 2020. With over 20 years’ management and leadership experience in a business consultancy role, and currently studying for a doctorate in social value, Neil has significant practical and theoretical knowledge of all aspects of social value and tendering. Hugo is the chair of various charities, author of “Social Return on Investment (SROI): A powerful tool for the realisation of benefits” and an accredited social value practitioner.