Measuring and Reporting Social Value – The TOMs Framework

The National Social Value Measurement (National TOMs) Framework is a tool that helps organizations measure and report on the social value they create. The framework is based on five key areas of social value: jobs, growth, social, environment, and innovation.

The National TOMs Framework is designed to be flexible and adaptable to the needs of different organizations. It can be used to measure the social value of a wide range of activities, including procurement, commissioning, and service delivery. It can help organisations to:

• Understand the social value they create
• Communicate the social value they create to stakeholders
• Make decisions that maximise social value
• Improve their social performance

How does the National TOMs Framework work?

The National TOMs Framework is based on a set of social value outcomes and measures. The outcomes are the things that organisations want to achieve through their work, and the measures are the ways in which organisations can track their progress towards achieving those outcomes.

The National TOMs Framework includes over 100 social value outcomes and measures. These outcomes and measures are grouped into the five key areas of social value: jobs, growth, social, environment, and innovation.

The Framework can help measure the social value for a business by:

• Identifying the social value outcomes and measures that are relevant to their work
• Collecting data on the social value outcomes and measures
• Calculating the social value created

Benefits of using the National TOMs Framework

There are many benefits to using the National TOMs Framework to measure and report on social value. These benefits include:

• Improved understanding of social impact: The National TOMs Framework can help organizations to better understand the social impact of their work. This understanding can be used to make decisions that maximize social value and to improve social performance.
• Increased transparency and accountability: The National TOMs Framework can help organizations to be more transparent and accountable to their stakeholders. This can help to build trust and support for the organization’s work.
• Enhanced competitive advantage: The National TOMs Framework can help organizations to gain a competitive advantage by demonstrating their social value to customers, investors, and other stakeholders.

Social Value Portal

The Social Value Portal is an online platform based on the TOMs Framework. Some local authorities use this portal to help with measuring and reporting on social value.

Features of the portal include:

• A database of social value outcomes and measures: The portal includes a database of over 100 social value outcomes and measures. These outcomes and measures are grouped into the five key areas of social value: jobs, growth, social, environment, and innovation.
• A calculation tool: The portal includes a calculation tool that organizations can use to calculate the social value they create.
• A reporting tool: The portal includes a reporting tool that organizations can use to create reports on their social value.
• A community forum: The portal includes a community forum where organisations can share ideas and experiences on social value measurement.

To learn more about the Social Value Portal, visit the website at www.socialvalueportal.com.