Social value creation
CHC is developing an approach for measuring and reporting the outcomes achieved from assisting clients. CHC has established a committee which is responsible for preparing annual social accounts. These consist of quantitative and qualitative data relating to the indicators of achievements including outputs, outcomes and impacts (what indirect changes can be attributed to the co-operative’s activities in this and previous years)12.
The aim is for the social accounts to be verified by a social accounting panel. The panel will consider four key factors12:
- The extent to which the accounts are comprehensive;
- The reliability and comprehensibility of information;
- Whether the indicators need to be changed in order to better correspond to the aims and objects of the cooperative; and
- Whether the aims of the objects of the cooperative remain relevant or require modification.
The panel is chaired by an independent, qualified social auditor with the accounts presented at the Annual General Meeting.
Shared value creation
International examples of employee owned co-operatives such as Sunderland Home Care Associates (Sunderland) and Care and Share Associates (CASA) demonstrate the range of commercial and social benefits which can be achieved. These include14:
- Low staff turnover, thus making a significant contribution to continuity and quality of support;
- More profit reinvested in staff training and development; and
- Commitment to service innovation, in particular the development of self-directed support services.