Social value is kind of a big deal
If you’re a fan of responsible business, you’ve probably heard the term ‘social value’. These days major corporations are making sure it’s embedded in their business model, and for good reason.
We spoke with our Director of Social Value and Impact, Jess Barker, about why social value is critical to anyone who cares about doing good business.
What is social value?
Social value is created when an organisation makes a positive impact on the world around it. Not for financial gain, but because it helps people live better lives. This might look like hiring locally, supporting community projects or reducing environmental impact.
Creating it is about doing business in a way that benefits people and the planet, rather than the bottom line.
But how do you create social value?
1. Build trust
Building genuine trust with a community takes time, care and consistency. This means listening to what people have to say, so your actions truly reflect what matters to them.
“We always start with discovery,” Jess said. “What matters to people? What’s getting in their way? Who’s already doing the work?”
Once Jess and her team have a solid understanding of what’s important to the community, she looks for ways to deliver practical ‘quick wins’, while building on long-term strategy in the background.
“We look at what can be delivered now to show people we’re serious, while also working towards the bigger picture,” she said.
2. Walk alongside people
Social value isn’t something that can be imposed on people. It needs to be grown in partnership with communities.
“We’re there to walk alongside,” Jess said. “We’re not telling people what to do, we’re helping them identify and act on their priorities.”
Sometimes, this can mean backing ideas led by the community. Other times, it could mean helping a local group access resources or helping them get in touch with decision-makers who can support their goals.
“People can feel when something’s being developed with them, not done to them,” she said.
“That’s when the value really lands.”
3. Ask (don’t assume)
It’s absolutely critical never to assume you know what people need. That means asking people the right questions and really listening to what they have to say.
“We definitely have to go in with our eyes wide open and gain a deep understanding of how a community is going to function,” Jess said.
“We take a systemic view, which means we need to look at the whole picture and work out the best way to navigate, to get the best outcome for community.”
Getting the broader picture requires speaking with people from different groups in a community, especially those whose voices tend to be overlooked. Understanding what impacts people from all walks of life allows you to develop social value that genuinely supports those who need it most.
4. Collaborate
When social value is done right, it brings people together. It lays the foundations for stronger partnerships and collective investment, which benefits people long after a project has ended.
Jess says her team’s work in Newman is a good example of this.
“We helped bring three Traditional Owner groups together to work on a shared plan for the future,” she said. “That collaboration was eventually recognised on a national scale.”
The plan worked because it focused on what the community needed. The Traditional Owner groups had the vision for their community, and alongside them, we developed the pathway to bring this into reality.
5. Leverage tech
Social value depends on real human connection to succeed. But technology can assist in a big way too. Jess says she helped to develop SocialQueTM, an AI-powered platform by Creating Communities that analyses high volumes of open-ended community feedback.
The proprietary tech allows Jess and her team more time on the ground working with communities, while SocialQue does the more tedious work of sorting through high volumes of survey data.
The data can then be used to determine what truly matters to people in communities, at scale.
“There’s so much information to analyse,” Jess said.
“If we can automate some of that backend work, we can free up our team to do what matters: build trust, connect with communities and make a difference.”
What are the benefits of creating social value?
- Improves liveability and wellbeing – for the people who live and work in the community impacted by your project.
- Broader long-term value – when you generate value beyond profit, you create lasting benefits for the community and build your brand reputation.
- Your bids are stronger – government and industry increasingly favour companies committed to social impact.
- Smoother approvals – when stakeholders and the community are onboard, fewer objections and delays happen.
- Builds trust – genuine social value builds goodwill, which carries into future projects and lays the groundwork for strong collaborations.
- Employees are happier – people like working for companies that invest in what matters, which means you attract and retain good people.
- Better risk management – enables companies to understand and respond effectively to environmental, social and governance (ESG) issues.
- It’s the right move – we all have a responsibility to build a sustainable future that makes life better for people, and the planet.
