IN DEPTH
What are libraries worth?
New research reveals the hidden value of libraries. Suff olk Libraries CEO Bruce Leeke refl ects on the real impact of libraries, and how they can tell a new and compelling story.
WHETHER it’s the next big social media platform or a zero hours con- tract for an agency carer, a fi nancial value can be found – fair or not. Suff olk Libraries has recently commissioned and published research to do just that: convert the social value of three of its core services into pounds and pence. The purpose for doing so is not only to help the library service to explain its value to its funders but also to give Suff olk Libraries a fresh view of itself and the value of the diff erent services it provides to the community. Bruce Leeke, chief executive of Suff olk
Libraries said: “Talking about how we provide social value through statistics and real-life examples of socio-recreational activity will help us change the library story. But changing the narrative isn’t just about statistics and proving that libraries enrich the fabric of socie- ty. It’s about building a new relationship with the general public where they understand the transformative power of socio-recreational activities and relate to libraries in a whole new way.” It means that while the fi ndings them- selves are important, the conversation is one that needs to continue.
Price discovery The report – Suff olk Libraries: A Predictive Impact Analysis – by independent con- sultants Moore Kingston Smith is believed to be the fi rst of its kind undertaken by a UK public library service. Bruce said this is “ground-breaking research which I feel will have implications for library services across the country as this is the fi rst time such an in-depth study has shown the value of library services in real fi nancial terms.” The report’s headline fi ndings are that every £1 spent on three of Suff olk Libraries’ services creates £8.04 in ‘social value’.
36 INFORMATION PROFESSIONAL
Rob Mackinlay (@cilip_reporter2,
rob.mackinlay@
cilip.org.uk) is Journalist, Information Professional.
The three key activities that were looked at in the report are:
● Early years sessions for under-fi ves (Baby Bounce and Tot Rock),
● Top Time sessions for older people
● Open Space groups which are inclusive, informal group sessions inviting anyone to drop in. These are run in partnership with a number of local charities that focus on improving mental health and wellbeing for Suff olk residents.
The report calculates that these generate just under £2m of social value every year and that they also create £284,000 worth of social value for the NHS every year. These services have been valued, usually with a proxy – a product or service that would achieve the same impact but which already has a fi nancial value: like a therapist, a mobile phone or even a holiday. In its Social Return on Investment (SROI) paper, Social Value UK, an organisation that provides guidelines for defi ning social value, says that: “While it may seem initially daunting, it is relatively straight- forward and gets easier with practice. As SROI
October-November 2019
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