New figures show that for every £1 invested, the Chartered Institute of Building delivers £4.06 of social value
The Chartered Institute of Building (CIOB) has published a new report highlighting the organisation’s own social value.
The findings show for every £1 invested, CIOB delivers £4.06 of social value through initiatives. These include its Tomorrow’s Leaders and mentoring programmes, engagement with its 47,000 members through regional hubs, member app and publications, the CIOB training academy and the CIOB Assist programme, which provides help and support to CIOB members during times of hardship.
Social value is defined as a measure of the positive value organisations create for the economy, communities, and society.
CIOB’s previous estimation of its own social value was in 2022, when it was found to be £2.84. However, the calculation then was not as detailed and didn’t include CIOB’s work at a regional level.
The CIOB report reveals more than half a million visits were made to the academy website in 2022. In addition, more than 11,500 of its continued professional development (CPD) packages were accessed. It also shows the CIOB Assist programme supported 484 people last year, compared with 290 in 2021.
Leading by example
Saul Townsend, head of content and communications at CIOB, said: “Social value is becoming increasingly significant across the construction sector and more widely, particularly in procurement processes, and it’s a subject we encourage our members to embrace.
“It epitomises our own CIOB values of professionalism, integrity, respect and excellence. So, with this in mind, we felt it important to lead by example and measure our own social value, and we’re proud of the results.”
In April this year, CIOB released a guide on social value for construction SMEs. The aim is to help them get to grips with how to deliver, measure and communicate social value. It has been downloaded around 350 times to date.
The full report is available here.
This article was originally published by Construction Management.