Measuring social value
21 March 2024
One of the most frequently quoted principles in business management is that you can’t manage what you can’t measure. This is certainly the case regarding sustainability and tracking an organisation’s progress on the road to net zero.
As part of its Social Value Plan, the construction group Costain reported recently that it is investing in a new software platform to accurately measure social value impact, benchmarking it with third party data.
The platform, to be rolled out later this year, will enable personnel to document and log volunteering efforts and record the positive societal and environmental impacts achieved at every stage of the projects they are working on.
Claire Chapman, Group Social Value Manager at Costain, said: “Gathering real time data from our people who are volunteering, or from our community programmes, enables us to understand the real impact we are making to local communities and the environment. With improved measurement accuracy, we will be able to benchmark our involvement by comparing the outcomes and performance of one project against similar schemes.
“Not only will this help us identify where there may be further opportunities for us to increase social value in the future, but it will also help foster a culture of continuous improvement within the organisation.”
The company’s recently launched Social Value Plan aims to improve the lives of one million people by the end of the decade.
Catherine Warbrick, Chief People and Sustainability Officer, said: “For more than 150 years Costain has been involved in delivering the UK’s most complex and critical infrastructure projects that create enormous value to communities and people. We also have a responsibility to ensure that we are leaving a positive legacy and delivering social, economic and environmental benefits above and beyond what is required to complete a project.
“Our renewed approach to leaving a positive legacy is redefining how we engage with our communities, people, and stakeholders and scaling-up the social value we create. We are measuring, monitoring and reporting our progress and outcomes, ensuring we make a positive impact on one million people by the end of the decade.”
Much of the impact to date has been, and will continue to be, achieved through Costain’s partnerships with more than 40 charities, social enterprises and schools across the UK, including the Samaritans, Prince’s Trust and Business in the Community.
Amongst recent initiatives, Costain has been in partnership with Building Heroes, an Armed Forces charity, since 2022. This Onsite Skills Academy initiative in the north-east of England helps service leavers and veterans gain valuable skills and qualifications in construction.
After receiving training at Costain’s Hub in Blaydon-on-Tyne (pictured), where the company is working with National Highways to upgrade the A1 around Newcastle, graduates obtained the National Open Collect Network (NOCN) accredited Streetworks Excavation and Reinstatement and L1 Award in Health & Safety in Construction, enabling them to secure their Green CSCS Card. This effort saw 96 veterans and transitioners graduating by the end of 2023, with the majority finding employment or pursuing further training in construction.
