Social Value Policies

In an increasingly conscious business environment, small and medium enterprises (SMEs) are expected to demonstrate their commitment to social responsibility. Developing robust social value policies not only strengthens relationships with stakeholders but also positions SMEs competitively in public sector contracts, where these policies are often mandatory.

Below, we explore the types of social value policies an SME might need to adopt, drawing inspiration from the Social Value Model (SVM) and good practice in sustainability and governance.

1. Social Value Policy

A Social Value Policy outlines how your business contributes to local communities. It can include initiatives like community investment, partnerships, job creation, and skills development. For SMEs bidding on public sector contracts, aligning with the Social Value Model (SVM) is essential. This policy should highlight measurable contributions to social, economic, and environmental wellbeing, such as:

  • Supporting local charities and non-profits.

  • Offering internships or employment opportunities to underrepresented groups.

  • Delivering training programs to upskill the local workforce.

2. Equality, Diversity, and Inclusion (EDI) Policy

An EDI Policy ensures inclusivity across recruitment, workforce development, and decision-making processes. By promoting diversity and equality, SMEs can foster a more innovative and dynamic workplace. A strong EDI policy might include:

  • Setting measurable diversity targets for hiring.

  • Providing anti-discrimination training for staff.

  • Creating mentorship programs for employees from underrepresented groups.

3. Apprenticeship and Training Policy

Investment in employee development is a key indicator of long-term sustainability. An Apprenticeship and Training Policy enables SMEs to:

  • Provide opportunities for disadvantaged or underrepresented individuals.

  • Develop internal talent pipelines for critical roles.

  • Partner with local educational institutions to offer apprenticeships.

This approach not only enhances workforce skills but also contributes to the wider community.

4. Accessibility Policy

With the rise of digital tools and platforms, SMEs must ensure accessibility for all stakeholders. An Accessibility Policy demonstrates your commitment to inclusivity by:

  • Ensuring compliance with standards such as WCAG 2.1 for digital tools and reports.

  • Removing physical and digital barriers to access.

  • Regularly auditing systems and resources for accessibility improvements.

5. Health and Safety Policy

Compliance with health and safety regulations is non-negotiable. A well-defined Health and Safety Policy should:

  • Adhere to the Health and Safety at Work Act 1974.

  • Provide clear protocols for hazard identification and risk management.

  • Offer training programs on workplace safety for all employees.

6. Health and Wellbeing Policy

Supporting employee wellbeing is vital for productivity and retention. SMEs can adopt a Health and Wellbeing Policy that includes:

  • Access to mental health support services.

  • Initiatives promoting work-life balance, such as flexible working hours.

  • Health campaigns or subsidized gym memberships.

7. Safeguarding Policy

For SMEs interacting with vulnerable stakeholders, a Safeguarding Policy is crucial. This policy should:

  • Define procedures for identifying and addressing potential risks to vulnerable groups.

  • Train staff on safeguarding protocols.

  • Create a culture of accountability and vigilance.

8. Access to Services Policy

An Access to Services Policy ensures that your offerings are inclusive and affordable. SMEs can demonstrate commitment by:

  • Implementing tiered pricing structures for disadvantaged groups.

  • Facilitating access for public sector organizations.

  • Continuously improving service delivery to underserved communities.

9. Employee Benefits Policy

Beyond meeting statutory requirements, SMEs should offer benefits that enhance employee satisfaction and security. These may include:

  • Disability and accident insurance.

  • Life and private health insurance.

  • Supplemental dental care plans.

10. Employee Handbook

An Employee Handbook provides a comprehensive guide to workplace policies and procedures. Essential inclusions are:

  • A non-discrimination statement.

  • Anti-harassment policies with clear reporting mechanisms.

  • Policies on work hours, pay, training, and benefits.

  • A grievance resolution process.

  • Prohibition of child labor and forced labor.

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Governance Policy Checklist