The specialist procurement group is measuring social value to equip clients with a clear measurement of the full benefits derived from their investment.
Figures compiled for Pagabo by Social Profit Calculator show that the social impact through employment alone saw the creation of 691 new jobs, as well as 468 work placement positions and 173 apprentices.
Regionally Pagabo’s selected contractors delivered £420m of social value in the north and £427m in London and the south-east, accounting for almost 80% of the total UK social value gains through the frameworks.
The measurements are being used to allow public authorities to address social wellbeing obligation when awarding contracts under the Public Services (Social Value) Act, 2012.
Simon Toplass, Pagabo CEO, said: “We like to set ourselves apart from the rest and achieve this through innovation including social value. It’s how we bring our frameworks to market and how we work with our suppliers to stay one step ahead. ”
Costed social value figures*
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- Additional benefits for local economies = £656m of value
- Workforce productivity creating gross value added uplift = £226m of value
- 468 work placements = £0.55m of value
- 691 new jobs = £42m of value
- 2592 safeguarded jobs = £159m of value
- 173 sustainable apprentices = £4.7m of value
*compiled by Social Profit Calculator
Balfour Beatty, BAM Nuttall, ISG and Conlon are among the contractors also using the Social Profit Calculator service to input into KPIs.
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