You can also look at average household spending on categories like ‘leisure’, ‘health’ or
‘home improvement’ to reveal how much people value these types of activity, relative
to others. This type of data is often available from government surveys. In England, the
Family Spending Survey can be a useful source.
When identifying proxies it is important to remember that we are not interested in
whether money actually changes hands. It also doesn’t matter whether or not the
stakeholders in question could afford to buy something – they can still place a value on
it. We assume that health has a similar value to people on any income. So, for example,
you may want to use the average cost of health insurance as a proxy for improved
health amongst children in care. The fact that those children would not be in a position
to take out such insurance is beside the point – it gives generic guidance on how
people value health.
There are problems with each of these techniques, and there are no hard and fast
rules as to which you would use in given situations. We offer them to support you in
deriving proxies. Nonetheless, this section requires creativity and research on your
part, as well as consultation with your stakeholders to identify the most appropriate
values. The following table gives examples of proxies that have been used in previous
Stag
SROI analyses. For most outcomes we suggest a range of different possible proxies to
Stag
help your own brainstorming.
e e
 
 A guide to Social Return on Investment
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