Social Return on Investment (SROI)
Social Return on Investment (SROI) is one of the most common tools to measure social impact and is currently the chosen method within public sector procurement departments as it can provide an economic return on investment calculation.
This increased pressure from the public sector, coupled with increased awareness from society and grant giving bodies has created a greater need to prove your value and impact centred on the economic, health, education, crime, employment, environmental and society. The ‘Social Values Bill’ within the House of Lords will add to this as it will require all those who wish to engage with public sector in the future to demonstrate how their charity, social enterprise or private business is creating and demonstrating its impact.
Is your organisation ready? if not, contact us for a free consultation.
SROI (Social Return on Investment) could be the right tool for you, as it’s a tool that can be used by an organisation to measure social impact and convert the impact into a monetary benefit to society. For example; for every £1 spent a further £4 is created in social value through the reduction of GP visits.
It reviews the effects of your organisations products and services and through primary and secondary research, is able to successfully demonstrate the social value and impact your organisation is creating, either directly or indirectly.
Make it Happen has a number of trained SROI specialists capable of supporting any size organisation. We are able to provide SROI workshops, mentoring and coaching of key individuals or carry out a full SROI assessment which can be tailored to your organisations needs. As with all of our services, we work in partnership with our clients to ensure the outcomes are aligned with your requirements. We can:
- Carry out stakeholder engagement events and data collection techniques
- Carry out research and evaluation of data
- Calculate the social impact
- Create case studies and journeys of impact
- Create a tailor made report for your organisation or individual project
- Tailor make your SROI to suit your own needs
- Create a launch event to promote your social value and impact
Find out how our consultants conduct a tailor made SROI for your organisation, contact us