Agenda item

Report from the Assistant Chief Executive.

Recommendations

1.    That the annual report is received noting the increased social value commitments along with outcomes delivered.

2.    That the updated Social Value Policy 2024 – 2027 be approved.

3.    That the key priorities for 2024 include:

a)    Community wealth building by growing employee and worker owned businesses in the borough.

b)    Building the capacity of local SMEs through additional tailored support, including one-to-ones and group sessions.

c)    Maximising social value opportunities and commitments through local market analysis.

d)    Developing the local anchor network by working with anchor organisations to help them develop social value approaches and processes.

Consideration was given to the report which provided an update on the progress towards the priorities set out in the Council’s Social Value Policy. Since the last annual report in March 2023, positive progress had continued to be made in realising the ambitions of the Council’s policy. In the intervening period social value commitments had more than doubled to £27.8m, with commitments delivered also doubling from £4m to £8m. Alongside this the Council’s broader progress on this agenda was recognised through the receipt of a national social value award for public sector leadership.

This year’s report also provided the outcome of a review of the current Social Value Policy, to set the direction to 2027. A review rather than a rewrite, the proposed Policy retained the original aims and commitments, whilst reflecting on the successes to date and incorporating the additional policy commitments agreed by Cabinet through previous annual reports.

The Council received accreditation as a “Living Wage Employer” from the

Living Wage Foundation in September 2021 and had retained the accreditation in 2022 and 2023. In June 2023 the Council won the prestigious Social Value Award for Public Sector Leadership. The Social Value Awards, organised by the Social Value Portal as part of their annual social value conference, were the most widely recognised awards for organisations and individuals delivering social value outcomes in communities across a number of categories.

In January 2024, Cabinet adopted the Local Labour Policy Interim Policy

Statement. This Policy set out the requirements for major and/or employment generating development entering into Local Labour Agreements, increasing the opportunities for local people to access training and local employment.

Following the completion of the review, the updated Social Value Policy 2024

– 2027 was attached at Appendix 1 to the report. The key changes made to the Policy were:

·       Recognising the progress to date of the existing policy and building on these successes.

·       Incorporating the Centre for Local Economic Strategies (CLES) recommendations regarding community wealth building that were adopted by Cabinet in 2021.

·       Setting out the direction for the period 2024 – 2027.

The key actions and development for 2024/25 were set out in paragraph 2.50 to 2.56 of the report.

Resolved:-

1.    That the annual report is received noting the increased social value commitments along with outcomes delivered.
 

2.    That the updated Social Value Policy 2024 – 2027 be approved.

3.    That the key priorities for 2024 include:

a.    Community wealth building by growing employee and worker owned businesses in the borough.

b.    Building the capacity of local SMEs through additional tailored support, including one-to-ones and group sessions.

c.     Maximising social value opportunities and commitments through local market analysis.

d.    Developing the local anchor network by working with anchor organisations to help them develop social value approaches and processes.