Social Value Returns
It's that time of year again when we reach out to our suppliers to capture all of the social value that has been delivered through Fusion21 contracts over the previous financial year - 1 April 2023 – 31 March 2024.
Please note, these returns are separate to the financial valuations that you submit to Fusion21.
Social Value remains an integral part of Fusion21. More than ever, our public sector members are focused on delivering social impact in the areas where they work and making sure that every £1 of contract spend delivers benefits for local people.
Find out how to submit your Social Value Returns via the video walk through below:
What are the social value returns?
Social value returns happen once a year. We send you a prepopulated excel spreadsheet with all your current live contracts on our frameworks (with spend over £100k in the last 12 months). At the end of each financial year, we email all active suppliers, asking them to complete the social value delivered against the contracts listed. These returns must be submitted by the deadline to confirm that your social value obligations have been met for that financial year. We then build our end of year report.
Does this apply to all contracts?
No, only contracts with a spend of £100k or more, unless it’s a consultant contract.
Why is this required?
Social value is a core part of Fusion21’s identity and is included under clause 24 of your framework agreement. Please refer to this document for further details.
What if I need help completing the return?
No problem at all, we are here to support you throughout the entire process. Please contact us directly to arrange a call or refer to our ‘how to’ video/ FAQs.
I’ve never done this before; someone else handled it previously. What should I do?
No problem. We can send you last year’s submission (if applicable) and guide you through the process via Teams.
Is this the same as the valuations?
No, valuations are submitted quarterly and confirm contract spend. They do not cover any social value activity.
What is the target?
10 Social Value Credits per £100k of contract spend. All contract information is filled out by us on your prepopulated excel spreadsheet that we have sent you. You can find a list of credits on the definition tab of your return document.
What if we exceed or fall short of the target?
If you exceed the target, that’s fantastic! If you fall short, we need to understand why and when this can be rectified as soon as possible. Please speak to a member of the Social Value Team if you think this may apply to you.
I’m struggling to meet the deadline. What should I do?
Please call or email us and we’ll work together to ensure the return is completed. This process should take no more than 30 minutes if social value has been delivered throughout the year.
What if we are unsure who is responsible for this within our business?
Please get in touch with us so we can discuss further. It’s important to allocate someone to take ownership of this return, as it’s a contractual obligation. We’re happy to support you throughout the process and help you complete the document.
How do I know what social value to count or record?
Please refer to the Social Value Credit Model, all definitions are recorded there.