The procurement landscape is on the verge of a significant transformation. With the upcoming Procurement Act set to be introduced in early 2025, organisations across the construction and property sectors need to prepare for a major shift. The new Labour government is placing a renewed emphasis on socially responsible procurement practices, focusing not just on delivering services, but on adding real, measurable social value.
Gone are the days when it was enough to claim, “We operate with a social conscience.” Now, we’re entering what can be called the “Prove-It Era.” It’s no longer sufficient to express good intentions around social responsibility – you must provide evidence. In this new era, organisations will be required to report, measure, and showcase the impact of their socially responsible initiatives.
The New Requirements: Social Value on Display
Social value has become a critical element for organizations working with contracting authorities, housing associations, developers, and other key players in the sector. The upcoming changes mean that it is essential for businesses to demonstrate how their practices contribute positively to communities, the environment, and society at large.
But this isn’t just about ticking boxes or satisfying contractual obligations. Under the new Procurement Act, performance and accountability will be paramount. Those who can provide hard evidence of their social value contributions will set themselves apart from the competition.
Who Needs to Prepare?
If you’re in any of the following groups, it’s time to take action:
- Contracting Authorities / Housing Associations: You’ll need to ensure that your procurement processes drive meaningful, measurable social outcomes.
- Main Contractors, Subcontractors, and Suppliers: Your entire supply chain must be aligned with social value goals, and you’ll need to prove that your activities benefit the wider community.
- Developers and Housebuilders: Social value now factors into development approvals and project funding.
- Consultants: Your expertise will be critical in helping organizations meet the new reporting and measurement standards.
What Does This Mean for You?
The introduction of this new legislation may seem daunting, but it presents a significant opportunity for those who are ready to embrace it. Organizations that can proactively measure and report on their social impact will not only comply with the new standards but also gain a competitive advantage in tenders and contract negotiations.
At Solve, we’ve always championed the power of social value to transform communities and enhance business outcomes. We work with organizations across the board—whether you’re a contracting authority, developer, or consultant—to embed social value into your operations, helping you comply with evolving regulations and show tangible results.
Meet the Team That Can Help You Succeed
Our team is here to guide you through the transition. Whether you’re looking to develop a social value strategy, improve reporting mechanisms, or measure the long-term impact of your projects, we offer the expertise and support you need to thrive in the Prove-It Era.
Don’t wait until the new regulations come into effect—start preparing now and let us help you demonstrate the true value your business brings to society.
