Evidencing Social Return on Investment. James Francis Group Finance Director (Operations)

Transcription

1 Evidencing Social Return on Investment James Francis Group Finance Director (Operations)

2 Our Mission Our mission is to enhance life chances

3 Our Vision Being a trusted provider Increase our profitability from diversified activity Significantly increase social dividend Empowering independence and financial resilience through increased investment in tenants Investing in our homes

4 Our aim is to be a responsible and sustainable business successfully improving our economic performance, reducing our environmental impact and delivering as much social value as possible over the short, medium and long-term. Social value - fundamental part of the organisation's success Customer loyalty - high level priority down to local level Catalyst: changing social and economic environment improving customer resilience and independence and supporting customers to enhance their life chances.

5 Why evidence SROI? 1. To understand how we are trading financial value for social value 2. Ensuring that we delivering good Value for Money 3. Focussing resources on the right things 4. Tell your story to stakeholders, including investors 5. The Public Services (Social Value) Act 2012 marked an important change to commissioning and procurement

6 Outcome Measures Methodologies The 2 principal measures are (1) Social Return On Investment (SROI) & (2) Wellbeing Valuation 1. SROI principles produced by the Social Return Network and New Economics Foundation use money value substitutions for outcomes, this is known as proxies. The proxies we use relate to what money has potentially been saved or has been obtained for the individual and/or business, and are in the Government s Green Book 2. Wellbeing Valuation developed by Daniel Fujiwara/HACT from the principles in the government published Green Book. This like SROI assigns a monetary value however is based on the impact outcomes have on improving an individual s life satisfaction and wellbeing.

7 Circle Housing Social Dividend SROI 2013/14 Total cost incurred (staff/programmes) - 3,000,000 Value obtained in kind through projects - 416,152 Value obtained in external funding through projects - 233,046 Value based on currently valuable interventions - 34,093,893 Total SROI for Sustainable Communities - 34,743,091 For every 1 invested, there is a returned value of 12

8 Social Dividend Financial Inclusion 2013/14 (Q1 to Q4) Number of customers accessing Interventions Proxy Value Debt advice (Face to Face) 838 5,738 4,808,444 Debt advice (Online and Phone) Welfare benefits advice and support (Face to Face) ,500 6,530,347 Welfare benefits advice and support (Online and Phone) Money advice (Face to Face) ,918 Money advice (Online and Phone) Opening a savings account ,450 Taking out an affordable loan ,150 Opening a transactional bank account ,322 Joining a credit union Taking out home contents insurance Average (per valued intervention) 2,674 Total 8,275 12,422,631

9 Social Dividend Employment & Skills 2013/14 (Q1 to Q4) Number of people Interventions Proxy Value Assisted into paid employment ,700 8,770,300 Assisted into services that build individual capacity ,040 7,342,400 Assisted into accredited training ,002 Supported into apprenticeships (FIRST year) 63 10, ,360 Placed into work experience Volunteers in place - working within Circle or on Circle programmes 732 6,100 4,465,200 Average (per valued intervention) 2,142 Total 10,249 21,671,262

10 The model in action INPUT 10k fund from Circle to develop programme + 4k staff/overheads OUTPUT 80 participants supported through employment IAG + 12k secured from Job Centre to sustain project + Detailed equality & diversity data IMPACT Public purse savings: 29,141 taken off JSA 16,500 on NEET client group 5,131 accredited at NVQ Level1 12,698 reduced NHS cost for depression OUTCOME 10 secured employment (inc 3 NEET-not in employment, education or training); 22 through accredited training; 13 into Further Education 25 into volunteering or work placements; 30 increased confidence in their abilities

11 Evidences the sustainability of our work & wider impact The Customer has personal increased prospects, support and income, etc. If an individual improves their capacity to earn or being more financially secure, will potentially lower arrears and costs incurred around evictions/staff time Improvements in communities a driver in house prices, which would provide a value to business Fixed term tenancies stabilising their position Ability to measure impact against reduction in spend Evidences value for external procurement bids More emphasis to take proactive stance on ASB, nuisance, communal areas

12 Questions & Comments