Bridgeman, J; Murdock, A; Maple, P; Townley, C and Graham, J (2015) Putting a value on young people's journey into construction: Introducing SROI at construction youth trust. In: Raiden, A and Aboagye-Nimo, E (eds.) Proceedings of 31st Annual ARCOM Conference, 7-9 September 2015, Lincoln, UK.
Abstract
The challenges measuring social value is not a new concept for the construction industry which is good at measuring costs, timings and efficiency of projects but not the benefits of intangibles such as good design even though design can promote everything from reduced crime to higher productivity (Macmillan, 2005). The measurement of social value has become increasingly important through the enactment of the Social Value Act 2012 requiring public authorities to consider economic, social and environmental well-being when awarding public sector contracts. Social Return on Investment (SROI) is an approach that can be used to measure the social, economic and environmental benefits of an activity by dividing the value of outcomes for stakeholders, by the inputs of the activity leading to the SROI ratio. The research reports on a project at Construction Youth Trust to develop a bespoke Social Return on Investment (SROI) model to capture the value of activities helping young people facing barriers access opportunities within the construction industry. The research examines the primary and secondary research that went into the development of the Trusts bespoke SROI model that was developed in partnership with the construction industry and part funded by construction company Willmott Dixon. Initial conclusions are that SROI is still under development and there are a lot of technical challenges to implementing the approach such as a lack of universal bank of financial proxies and the inability to compare SROI reports. Therefore implementing SROI is currently a time consuming and expensive process.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | social return on investment; social value; sroi |
| Index terms: | partnership, productivity, public sector, construction company, public authority, social return on investment, efficiency, construction industry, well-being, social value |
| Subjects: | partnership management, sociology, industry analysis, administrative law, management, performance management, social impact assessment, organization, mental health and wellbeing |
| Topics: | Quality Management, Urban Studies, Legal Issues, Governance, Stakeholder Management, Research Practice, Health and Safety, Business Strategy |
| Descriptive scope: | 3 PCT |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here