» Resources » Monetise social value: How can organisations start? Tips & Guides Monetise social value: How can organisations start? Companies are increasingly seeking to put £s to their social impacts, to calculate the social value they have either generated or plan to. We call this ‘monetisation’. But how to monetise? 1. Pick your monetised values carefully ‘Monetised values’ are the financial proxies that are applied to social impacts to calculate social values. The most robust are those that are compiled through valuation methods that align with HM Treasury Green Book and/or OECD (2006, 2013) guidance or that have been used in government policy analysis. These are based on ‘welfare’ economic methods and measure changes in people’s wellbeing or welfare. Values within the HACT Social Value Bank and Calculator are calculated in this way. Values prepared in different ways (e.g. based on the cash value of staff time spent on an activity) are nowhere near as robust and should be treated with caution. 2. Focus on outcomes The most meaningful measures of social value are changes to people’s wellbeing or welfare (‘outcomes’) resulting from interventions or activities (‘inputs’). For example, it’s relatively easy for a company to measure – and perhaps even monetise – their inputs (e.g. time spent by staff mentoring unemployed people) but it’s much more meaningful – albeit more difficult – to identify, report and monetise the results of those inputs (e.g. people entering sustained full time or part time work as a result of that mentoring). 3. Beware projecting social value! There’s a trend for companies to project the value of the social value they claim they will create in delivering a contract, when responding to an invitation to tender. This approach should be treated with caution, because: There’s a tendency for bidders to over promise when bidding Bidders typically value the ‘inputs’ they will contribute (e.g. mentoring to unemployed people) but often without any indication of quality; and if the quality of those inputs (e.g. mentoring) is poor then no one will actually benefit and no social value will be generated. The best measure of social value is change to people’s wellbeing or welfare – no one can know who those people or changes are until after they’ve been achieved. 4. Use the ‘six stage’ social return on investment (SROI) methodology Yes – it’s complicated and it requires training, but it’s a great way to monetise social impacts in a way that stands up to scrutiny. By Billy Wilkinson Dec 5, 2018 Share: Related Articles April 2025 Blog Extended Producer Responsibility Explained: Who’s Affected and What to Do Lucy Picken April 2025 Blog Extended Producer Responsibility Explained: Who’s Affected and What to Do Extended Producer Responsibility (“EPR”) is one of a number of policies being introduced in the UK. The Environment Act 2021 introduced EPR, as it contains a framework for introducing the scheme, which builds on existing waste laws, and gives producers of packaging more responsibility for the cost of managing products. What is EPR and why […] Keagan Allin April 2025 Blog Earth Day 2025 Action Sustainability Staff April 2025 Blog Earth Day 2025 Earth Day, marked every year on 22 April, is a global reminder of the importance of environmental protection and collective action. It encourages individuals, organisations, and governments to reflect on their impact and take practical steps towards a more sustainable future. This year’s theme for Earth Day is “our power, our planet”, with a specific […] Keagan Allin April 2025 Blog Getting Started with Social Value: What It Is and Why It Matters Sam Walker April 2025 Blog Getting Started with Social Value: What It Is and Why It Matters In recent years, Social Value has emerged as a significant element within the framework of sustainable development, particularly in the context of public procurement. But whilst some organisations may be confident in their understanding and delivery of Social Value, many organisations – in particular SMEs – are being introduced to the concept for the first […] Keagan Allin