Social Value as a Key Business Measure

As a premium hospitality business we are dedicated to working in a way that has a positive impact on our people and the environment and we collaborate with partners who share this same commitment.

In our latest white paper, we explore how supply chains and procurement are incorporating social value, what support is available for businesses starting out on this journey, and the debate for adopting social value as a standard measure of commercial integrity.

These findings draw on the body of insights shared by professional speakers at a recent Social Value thought leadership event hosted by Restaurant Associates earlier this summer.

Key highlights include:

• The integration of social value into supply chains and procurement processes is not just a trend but a fundamental shift in how businesses operate.
  
  
• B Corp certification is driving this change and encouraging businesses to embed social value deeply into their operations, influencing industry standards and consumer expectations.
  
  
• Adopting a “people-first” approach in the workplace empowers diversity and inclusivity and opens up opportunities of bringing in new, untapped talent.
  
  
• Case studies – businesses success stories from companies that are breaking new ground, such as Compass Group UK & Ireland, Foodbuy UK&I, and Ozone Coffee. Foodbuy UK&I are advocates for social enterprises and they focus on creating positive social value by engaging with and supporting small businesses – last year, 45% of its supplier portfolio was made up of small to medium businesses (SME’s).

Restaurant Associates is part of Compass Group UK & Ireland, and as an organisation, Compass Group UK & Ireland is on its own social value journey - pledging to support one million people by 2030 through its Social Promise. A series of initiatives that aim to foster education, improve employability, promote wellness and self-care, and support local communities.

Carol Sommerville, Compass Group UK & Ireland’s Chief People Officer said: “Our goal is to touch the lives of 1 million people – it is ambitious, but it is about doing good in our community. We will continue to do more of it whilst acknowledging our networks and partnerships are a great way to encourage further learning.”

As a business they have provided 600 apprenticeships this year and are aiming for 700 next year, with 1500 people already on career pathways at Compass UK. Plus, over 69% of its workforce are now paid real living wage or above.

To read the white paper in full, please click here.