What is Social Value and Why does it Matter?
Social Value
Social Value is a broader understanding of value. It moves beyond using money as the main indicator of value, instead putting the emphasis on engaging people to understand the impact of decisions on their lives. The people’s perspective is critical.
Organisations will always create good and bad experiences, but on balance should aim to create a net positive impact in the present and for a sustainable future. They should measure their impacts and use this understanding to make better decisions for people
Measuring what is important to people, beyond profit
Social value is woven into our everyday lives – from time with loved ones to a peaceful walk through the countryside. These experiences shape our wellbeing, which is influenced by things like our health, work, finances, education, relationships, local environment, and how decisions are made around us.
At the Institute for Social Value, we support organisations to understand and measure these impacts. Through training, guidance and assurance, we help decision-makers see the full picture – enabling choices that genuinely improve lives and reduce harm.
Measuring social value means listening to those affected – not just ticking boxes. It’s about understanding what really matters to people, using meaningful data, and being accountable for acting on it.
In essence, social value goes beyond pounds and pence – it captures the full impact of our actions on people’s lives.
Why does it Matter
Why does it Matter? At the Institute for Social Value, we believe that social value has a huge potential to help us change the way we understand the world around us, and make decisions about where to invest resources. By changing the way we account for value, we believe that we will end up with a world with better wellbeing and more equality for all. You can join us on this journey by becoming a member.
