2021-10-12 P&E Agenda - Item 10 - Attachment 1 - Social Return on Investment Evaluation

3.1 Identification of values
Across the benchmarked studies, the following outcomes had important social value attributions:

    •   Fellowship through working with others – increased sense of place and belonging
    •   Improved confidence
    •   Clearer sense of identity and purpose
    •   Personal stability
    •   Greater economic security
    •   Greater/ renewed engagement with education and learning
    •   Improved career definition
    •   Ability to unlock ideas

Many of these are relevant to the Digital Hub, particularly as these are readily associated with young people.
This was explored through stakeholder survey


3.1.1 Valuing social traits
The evaluators sought actual financial values for the benefits generated. Where this wasn’t possible or
available financial proxies were adopted, as a best estimate of the value of the outcome change.
Financial proxy calculations were in accordance with established conventions as per the SROI Guide (2012).
The proxies were tested with peers, with consensus these were reasonable financial equivalents.
For example, to assign a value to Digital Hub networking events, equivalent time/ opportunity costs to network
through LinkedIn or attend a conference were identified as reasonable financial proxies.


3.2 Deadweight, drop off and displacement
Credible SROI evaluations must be realistic and not over-claim positive outcomes. To counter the risks of over-
allocation of benefits, assessments were made to account for key factors including: ‘deadweight’, ‘drop off’
and ‘displacement’.

 Deadweight:

 A key part of the methodology is to allow for and deduct outcomes which would have otherwise occurred
 without the intervention. This is referred to as deadweight. To reduce the risk of error in this qualitative
 calculation, evaluation participants were directly asked to estimate the degree to which any social and economic
 benefits may have been achieved without the digital hub.


 Attribution:

 Attribution allows for external assistance/ factors, such as support provided in addition to Digital Hub. This can
 include 3rd party support, other professional development, and the skills and experience already available to
 individuals irrespective of the benefits generated by the Digital Hub.




8