The National Social Value Measurement Framework for Wales
Fframwaith Mesur Gwerth Cymdeithasol Cenedlaethol Cymru
The pandemic hit our communities hard and will have a long-term impact across all sectors of our society. It is clear that the public sector has a major role to play in promoting a sustainable recovery and renewal in how they commission and also through how they procure new services. The sector is going to have to spend money and the key question is how we can maximise the value of this spend. This should not be by seeking the cheapest service (a traditional interpretation of MEAT – ‘Most Economically Advantageous Tender’) but by recognising, supporting and encouraging businesses and our 3rd sector organisations to also do their bit in delivering more value for our communities.
We need to unlock the power of the public pound; to do more, to help us recover and help our communities to renew.
This is what the National TOMs Wales is all about. It is why it has been specifically designed to reflect the priorities of the Wellbeing of Future Generations Act and to help organisations measure and maximise the social value they create.
In this respect, the National TOMs Wales is an action-based framework more akin to a social charter or manifesto than a measurement framework. It is designed to reflect policy objectives and make it as easy as possible for organisations to measure what they do and also get involved with specific activities that make a difference.
The National TOMs Wales incorporates all of the requirements of the Community Benefits Toolkit and has been designed to allow organisations to assess their social value contribution to the Wellbeing Act in terms of non-financial benefits (e.g. jobs for long term unemployed) and the additional financial value created (e.g. additional fiscal and economic benefits).
If the National TOMs Wales is used properly, the rewards across Wales could be significant and deliver as much as an additional £0.25 (+25%) in social value for every pound spent. This document lays out how public and private sector organisations can unlock this value for our communities through how they commission, procure and manage social value.
The guidance is written in three parts. It includes an overview and introduction to using the National TOMs (Part 1), a detailed description of how to use and apply the National TOMs for procurement or measurement (Part 2) and a full list of the National TOMs for Wales including proxy values, rationales and detailed descriptions (Part 3).
Time is not on our side. Communities are suffering and it is important that all organisations join together in a concerted effort to make a difference and act now. The National TOMs Wales provides part of the answer by helping to unlock the power of our public and private pound and aiding us to recover and renew.
To learn more, download our guidance documents for the National TOMs Wales by clicking the button below.