WIREDGOV

A new way of sharing SROI principles with organisations across all sectors.

This week, nef launched the first Centre for Excellence on Social Return on Investment (SROI).

This new venture will lead to the first comprehensive, consistent approach to valuing an individual’s wellbeing. It aims to further understanding of value for money in a way which includes social and environmental outcomes.

Bringing together years of development and expertise, the new SROI Centre for Excellence will allow the considerable experience of nef and nef consulting to be shared and built upon.

The Centre comprises three key pillars:

1. The development of a common currency for well-being economics.
2. Communities of practise – online learning forums to advance the methodology and share experiences.
3. Masterclasses on SROI methodology, the building blocks of a new approach to valuation.

The Centre was launched at at Hub Westminster. Attendees from the public, private and third sector heard speeches from Scope, the Prince’s Trust and HIV/AIDS Alliance, outlining how better information allows them to prepare for future challenges they face.

In a difficult economic climate, organisations across all sectors find themselves having to do more with less. The pressing need for robust assessments of value for money has seen a rapid take up of SROI in recent years.

Both nef and nef consulting were integral to the development of the SROI methodology, and have conducted more analyses in the area than any other organisation. The launch of the Centre for Excellence marks a new chapter in their work.

Michael Weatherhead, director of nef consulting comments: “Together we want to make SROI synonymous with excellence in evaluation and appraisal. We want to help organisations understand and articulate the value of what they do, and use this information to advance themselves, make better decisions, and produce better outcomes for those they seek to help.”

Chris Wright, Chief Director Executive at Catch22 comments: “Catch22 welcomes the work that will be carried out by the Centre for Excellence to advance and refine the SROI methodology and to help organisations across the public, private, voluntary and social enterprise sector to produce better outcomes for our commissioners, customers, service users and beneficiaries.”