SROI Report

Measuring the social value of our communities investment strategy

It is estimated the activities we delivered during 2023-24 have a potential Social Return on Investment of £14,288,758

This report aims to detail the potential Social Return on Investment that has been gained from Communities activities delivered in the financial year 2023-2024.

Methodology

For context, a Social Return on Investment measures returns via other means than solely financial; it aims to explore the social, environmental and economic value created by a project to demonstrate how effectively an organisation uses capital and other resource to create value for the community. The figures within this report are based on calculations reported by the Housing Associations Charitable Trust [HACT], a trusted industry standard for measuring social return. Some caution needs to be applied when considering figures within this report as the HACT model hasn’t been applied  strictly as a measurement tool, but more of a reflective tool to demonstrate the potential value achieved over the year.  Values have been taken from the HACT Value Calculator to indicate potential, as opposed to the relevant questionnaires being completed before /after a project.

 

Our approach to community investment

We have an embedded commitment to the whole community wherever we operate, offering equal access alongside our own tenants. The Communities team engage our tenants and local people across the communities of which we have housing stock to provide access to opportunities which meet our corporate vision, to  create opportunities that change lives through our drive, expertise, resources and passion. We aim for high standards of services to all residents, promoting diversity, equality and social inclusion and aims of improving quality of life by providing a voice to residents, supporting them to help themselves and enabling us to support the most vulnerable. 

 

The Communities Team offer activities and projects across a number of areas of need including:

• Skills, education, training, volunteering and support routes into employment
• Inspiring the next generation by providing accessible family and young people options and support.
• Resident Involvement and Engagement.

 

  This report concentrates on the outcomes from the employability and training and inspiring the next generation strands of work. 

 

Volunteering

The benefits of volunteering are both well documented and vast. The overarching aim of this strand is to help people contribute to their own local communities and support others. Our provision of volunteering opportunities enables us to be part of community success socially, economically, and environmentally.

The Westwood Community Hub has reception volunteer roles. HACT provide a social return figure for ‘Regular Volunteering’ as £3249Per volunteer for volunteers who volunteer at least once per month for at least 2 months. During the financial year, 886 hours of volunteering were delivered which provides a huge social value, but also from a purely corporate perspective, is a cost saving. The Westwood community hub had 5 active reception volunteers providing regular support within the reportable financial year, providing a social return of £16,245.

 

Employability and training

We run targeted employability support through weekly careers clubs, 1-2-1 support and employability training sessions. 231 individual people attended our careers clubs receiving employability support such as help with job searching, CV writing and interview skills.

129 total individual job outcomes were achieved in the financial year with participants we provided support with. 66 of these job outcomes were into confirmed full time roles.  HACT place a social value return of £14,433 for individuals moving from unemployment into full time employment. This equates to a potential social return of £952,578 being obtained. 44 of the job outcomes were for confirmed part-time job roles and HACT place a value of £1,229 for individuals going into part-time employment, giving a total social return of £54,076.

We delivered training courses as well as referring participants into external training courses, including courses held at our community hubs. A total of 571 employability training outcomes were delivered across the financial year. HACT place a social return on ‘General Training For Job’ which provide work related training to find a new job and increase skills of £1,567, equating to a total return of £894,757.

We provided targeted employability support for under 25’s and achieved 30 job outcomes for under 25’s in the financial year. We also provided employability advice in schools to 1,200 individual school children.

 

IT Support

Learn My Way aims to help people with the basics of computer use and give people the skills to be able to get online and access the internet. There were 33 participants across the year, HACT places a social value of £2413 to being able to access the internet, equating to a potential social return of £79,629. As well as Learn My Way, general IT courses to help improve IT ability were held at Westwood Community Hub with 94 individual participants in the financial year.

 

Local Advice and guidance

The Westwood Hub is open Monday through to Thursday 9:30am to 4pm and offers open advice and guidance to the community as well as employability support. HACT provide a social return to the individual for ‘able to obtain advice locally as £2457. During the financial year, there were 4625 individual attendances to the hub for various reasons. A potential social return could be measured at £11,363,625.

 

Functional skills support

We provide courses and support at our hubs for people to improve their functional skills including English and Maths with 16 individuals receiving support. HACT provides an average value of benefit for vocational training of £1,124 per individual, equating to a potential social value return of £17,984.

 

Inspiring the next Generation

We support and fund different projects aimed at families and young people aged 0-25. Utilising our community venues and working with partners there is a range of projects and support which we provide, including the below;

We worked with 7 local secondary schools to fully fund once in a lifetime week long sailing residential voyages with Tall Ships. 70 young people took part in the voyages and a major benefit for the young people taking part in the voyages is that it improves their confidence. HACT put a social value on in the improvement of youth confidence as £9283 per person. This means there is a potential total social value of £649,810.

We funded Barnado’s to provide social support groups for young parents at 2 different children centres. We also fund a social stay and play group in Godmanchester with Cambridgeshire child and family centres. There are around 52adults and children attend these groups a month. HACT place a social value on being a member of social groups of £1850 meaning there is a potential total social value of £96,200.

We funded a weekly term time youth club in partnership with Families First which gives opportunity for secondary school aged children to socialise in a safe and supported place. We have around 24 young people access the youth club. HACT put a social value of £2300 for young people accessing a youth club giving a potential return of £55,200.

 

Conclusion

The above activities delivered between 2023-2024 have a potential to achieve in the region of £14,193,458   in social value. We have calculated at least £735,112.80 has been spent by CKH to achieve these incomes, meaning a total social value return of £13,458,345.20.