Size of the sector Social Return on Investment SROI Prof Stephen McKay Dr Domenico Moro Size of the sector Workforce Link with NCVO almanac and Skills Third Sector Volunteering Giving ID: 373747
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Measuring impactSize of the sectorSocial Return on Investment (SROI)
Prof Stephen McKay
Dr Domenico Moro
Slide2
Size of the sector
Workforce
Link with NCVO (almanac) and Skills Third Sector
Volunteering
GivingSlide3
Workforce – LFSSlide4
A concentrated sectorIn 4 main industries:
Health, social work, education and real estate cover 93.5% of VCS employment
68% female (45% for all workers)
Average 43.4 years old (40.8)
Average 30 hours a week (34)
38% are graduates (26%)
22% in unions (public sector 56%, private 14%)
40% part-time (10%, unable to find a FT jobs)Slide5
Volunteering and giving
[2008-09 (E+W) Last 4 weeks]
Informal help 62%; formal volunteering 41%; employment volunteering 5%
75% had given to charity, with average donation of £25 (median £10)Slide6
Measuring impact
Several different tools and approaches
Social ‘Cost Benefit Analysis’
SROI
SROI is an adjusted cost benefit analysis
Emphasises the role of stakeholders
Designed/developed for the Third SectorSlide7
Social Cost Benefit Analysis (CBA)Form of economic analysis to compare costs and benefits, over time;Need to express costs and benefits in current monetary terms;
Tangible
and intangible
costs and benefit
Different methodologies used to measure intangible costs and benefitsSlide8
SROI vs CBAAs with CBA, SROI combines in the form of a cash flow, the ratio of (discounted) costs and benefits over a certain period of time;In many SROI evaluations
Many costs are tangible;
Many “social” benefits are intangible (and are often given high valuations, and hence a high overall return);
Do not represent any actual financial savings (which would be closer to
marginal
rather than average costs) Slide9
Distinctive TSO featuresInputs include volunteeringValuing volunteering activity
SROI often uses a market value approach (minimum wage, average wage)
Outputs/Outcome
Quality of service provided
Empowerment of service usersSlide10
Using and reporting SROITemptation to use SROI for comparing organisations despite warningsBy organisations themselves – marketing strategy
By funders and commissioners
Risk of how others interpret the findings
Over-emphasis on the ratio
Organisations feel exposed and vulnerable
SROI process unaffordable for many, as increasingly ‘professionalised’