Social Value Leadership Group

Social Value Leadership Group (SVLG)

Social value is the other side of the coin to ‘financial value’. Social value quantifies the net positive value that businesses create for the economy, environment, and society. It relates to the current belief that businesses need to be as concerned with doing something positive for the communities they work within and society at large, as well as making money. Such Social value is being measured and quantified, much like financial value, and companies use it to enhance their customer and employer brand.

Social value creation for a business enables it to:

  • Be a positive force in the society
  • Improve competitive advantage
  • Practice ethical and environmental good practices
  • Comply with the Public Services (Social Value) Act 2012

At WCIT, we recognise that the term ‘social value’ is analogous to the pillars of our Livery and as such we felt that it was right that we both embraced and found ways to amplify this movement.  In February 2021, under the auspices of the Industry Committee, WCIT launched the Social Value Leadership Group (SVLG).  Led by our then Senior Warden Rob Wirszycz,  the group aims to help the broad tech industry with the increasing need and demand to demonstrate and prove ‘social value’ to multiple stakeholders including government, customers, regulators, investors and their own people.

We now have over 20 industry members (all connected in some way, either through employment or board, to one of our members) and we have developed multiple links with organisations who are also seeking to promote the creation of social value, many of whom were unaware of the Livery movement.

Our focus is on Social Value (and Environment, Social and Governance (ESG)) within the tech sector itself. We see our sector as being distinctive from a social value perspective in that our environmental impact is largely indirect, our work can be done remotely from the communities we benefit, and our people are generally well-remunerated.  As such we have developed a ‘WCIT Social Value Capability Improvement Model’, that allows a tech company to determine a ‘social value pathway’ appropriate to their size and ambition. You can download a playbook and simple tool to conduct a ‘self-assessment’ which will provide practical guidance for tech firms increase their social vale.  The SVLG also organises a regular programme of expert speakers sharing their experience with the audience. These sessions provide members with a focus for their social value work.

Join us: We are seeking new members.  If you work with or for an organisation you think would benefit from joining the SVLG, please email our Assistant to the Clerk who will be happy to provide more details. 

Conduct a Social Value Self-assessment: You are invited to sign the WCIT Social Value Declaration and send it to us. You are also invited to apply the ‘WCIT Social Value Capability Improvement Model’ within your organisation or in a large project for a self-assessment. Please feel free to use the Excel based tool provided by WCIT. The model will help you to identify your areas of improvement to increase your social value. You are also requested to share your self-assessment anonymously with WCIT, by sending a completed (without your company name) excel file to assistantclerk@wcit.org.uk.        

Free downloads:

WCIT Social Value Declaration

WCIT Social Value Capability Improvement Model Playbook – V1.0

WCIT-Social-Value-Capability-Improvement-Model_V1.0