Categories: Industry News, Pagabo News
We are celebrating hitting our latest social value milestone, marking £3bn in social value being enabled by works procured through our frameworks since 2017.
This marks another milestone in a hugely successful year for our firm, which saw the launch of our new Major Works and Professional Services frameworks go live in April, the appointment of several members of staff and the announcement of a transformational research collaboration with The University of Sheffield Advanced Manufacturing Research Centre to name but a few.
The figures have been enabled through our full suite of frameworks. As well as figures relating to the financial benefit to local economies, the measurement includes the creation of more than 2,750 jobs and the safeguarding of more than 11,000 jobs, as well as 900 work placements and more than 700 apprentice roles.
Simon Toplass, chief executive officer at Pagabo, said: “Driving positive social impact for individuals, communities and businesses up and down the country is one of our core business values at Pagabo, so hitting this landmark £3bn enabled figure is a really proud moment for us.
“Social value is firmly at the heart of everything we do, and we make a conscious effort to be as directly involved as possible in order to help our clients generate the best social return possible from their projects. And there is of course no doubt that social value is set to play a bigger part than ever in the future following COVID-19 – especially when it comes to job safeguarding, job creation and the development of employment opportunities in the immediate future.”
How Social Value is generated
We generate our figures using Social Profit Calculator (SPC) - the market-leading online tool accredited by Social Value UK and Social Value International. SPC uses robust government data and methodologies to help organisations understand, evidence and measure the social impact of their work.
Simon said: “Most organisations will already be delivering some form of social value through their employment of staff, skills development programmes and through working with local supply chains. The important next step is knowing how to measure these things and how they equate to true benefit for local communities. This is something that SPC is perfectly placed to do, accurately calculating the financial value of social, economic and environment impact of work.
“It’s highly likely that we are going to see a significant push over the coming years regarding industry standards of data collection for social value – especially when it comes to regional differences. Tools like SPC will continue to grow in importance – as will the need for cross-industry collaboration to build a picture of what good social value looks like around the country for clients.”
We are set to announce the successful applicants for our brand-new developer-led framework – worth £47bn - in December.
For more information on how we enable social value, click below: