From activity to impact

What is our social value?

Social value is the value of the difference we make. It is the value of the changes that stakeholders – such as young people, adults involved in the Award delivery, businesses and governments – experience due to the Award.

Through our social value model we are uncovering how these changes occur. Through welfare economics we can represent these changes in monetary terms. Social value evaluation helps us understand the contribution of the Award to society and economy.

The methodology of our social value evaluation uses quantitative research and data to value the following broad, long-term effects of the Award on individuals and their communities.

$4.27:$1 – Social Return on Investment (SROI) in Australia

Social value is the sum of the changes that stakeholders (such as young people, adults involved in Award delivery, businesses and governments) experience due to the Award. Through our social value research we are uncovering how these changes occur, and through welfare economics, we can then represent these changes in monetary terms. This body of research helps us understand the contribution of the Award to society and economy.

The social value analysis of the Award in Australia estimated that in 2017, for every $1 that was invested in the Award, $4.27 in social value was generated. While the total social value in 2017 amounted to AU $134 million, approximately 77% of this value was due to increased engagement with charitable and community causes.

The Award creates certain habits and behaviours that last a lifetime. Therefore, the social value analysis also looked at the social value that can be attributed to the Award after a young person completes their Award journey. As a result of continued volunteering, regular physical activity and practice of a skill into the future, it is estimated that there are additional future benefits amounting to AU $6,800 per Award holder on average.

FIND OUT MORE about our social value model and evaluation in our recent publication in conjunction with PricewaterhouseCoopers (PwC) Changing lives in the changing world.

Our social value model and methodology, which continues to develop, represents our commitment to our ambition to strengthen the measurement and reporting of the Award’s impact. It also contributes to the wider discussion about quantifying the benefits of non-formal education and learning.