Maximising social value

Posted on 15 March 2022

Our new Social Value Strategy sets out how we’ll work with suppliers to support customers and communities.

“The ongoing impact of austerity, cuts to local services, and the extraordinary setbacks caused by the coronavirus pandemic, mean that, alongside delivering more affordable homes, we must support our communities now, more than ever,” explained Social Value Adviser, Chichi Onyenemelu.

“So, to extend the reach of the work of Hyde Foundation and the Hyde Charitable Trust, we want to continue to work with suppliers to deliver even more opportunities and activities, on top of the goods and services they’re contracted to provide. Together, this helps us create places where people want to live, to meet our environmental aspirations and to build thriving communities.”

Our new Social Value Strategy 2022-25 (PDF, 2MB) sets out our renewed ambition to build more social value into procurement, and our desire to work with our supply chain to help us to maximise economic, social and sustainability outcomes for customers, communities and society as a whole.

We have three key objectives: to get more value for money from the contracts we award; to generate better outcomes for our customers and communities; and to position ourselves as a social value champion within the sector.

“We’ll involve customers, communities and local stakeholders in deciding what activities and opportunities our suppliers should offer, to ensure they meet their needs and have great impact,” Chichi said.

“If we’re serious about creating the best outcomes for our customers, communities and society, then those with whom we enter into contracts should care too. In fact, we must now insist on it. Social value from our supply chain can help to ensure that for every pound we spend, as much value as possible is achieved.”

Download our full Social Value Strategy 2022-25 (PDF, 2MB).  A one page summary (PDF, 846KB) is also available.