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Measuring what matters


A ground-breaking new metric developed in partnership with LSBU is bridging the gap between business and the not-for-profit sector by providing a robust way of calculating social return on investment


Measuring return on investment is one of the main yardsticks we use to judge the success of a campaign, project or initiative. But a project may well deliver much more than a boost to the bottom line, including wide-reaching social or environmental impacts that are felt for many years to come.


In the past, these ‘softer’ outcomes have been difficult to measure and quantify. Now a Knowledge Transfer Partnership (KTP) between LSBU and Construction Youth Trust (www.constructionyouth.org.uk), a charity that gives young people access to training and job opportunities in construction, has developed a robust metric for measuring social return on investment (SROI) that could become standard practice across the industry.


‘Construction is facing a major skills shortage at the moment,’ says Jemma Bridgeman (pictured above), the KTP Associate who put the metric together. ‘Contractors need


to reach out to young people and really promote opportunities within the industry. At the same time, they’re being asked to show how they can deliver social as well as financial value, while not-for-profits need to be able to demonstrate value for money in a more competitive funding environment.’


Jemma’s metric draws on data from two projects, Budding Brunels and Budding Builders. She looked at a wide range of factors, from the value of the new skills young people were gaining to the impact of increased confidence and aspirations. ‘As well as drawing on existing analysis and financial proxies, I had to establish new ones, she says. ‘That will expand our knowledge base, creating a resource that will help us develop more detailed measures in future.’


The results showed an impressive SROI for both projects: £5.43 for every £1 invested for Budding Brunels, and £6.51 for Budding


“ Contractors need to reach out to young people and really promote opportunities within the industry. At the same time, they’re being asked to show how they can deliver social as well as financial value, while not-for-profits need to be able to demonstrate value for money in a more competitive funding environment”


4 | SOUTH BANK | Autumn 2015


Builders. Reaction has been very positive. ‘The SROI analysis has been of great value to us,’ says Sue Hardy of the Network Rail Crossrail programme, partner on the Brunels project. ‘It has turned the value of the programme into metrics that can be used across the industry, and helped us ensure that we are delivering maximum social impact.’ Alison Symmers of the Willmott Dixon Foundation, which provided financial support for the KTP, commented: ‘This provides evidence to support our belief that businesses can make a huge difference in their local communities.’


The KTP has now been given a rare ‘Outstanding’ rating – the highest possible award – by the KTP Grading Panel.


Construction Youth Trust approached LSBU with a business challenge and the Institute for Knowledge Exchange worked with them to design a strategic solution. If you have an idea for a project, contact one of our Knowledge Exchange Development Managers:


Martha Crawford martha.crawford@lsbu.ac.uk 020 7815 6922


David Woods david.woods@lsbu.ac.uk 020 7815 6943


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