New procurement law elevates social value and wellbeing

When it comes to public procurement, are you prepared for the upcoming changes to the law?

The Procurement Act 2023, which becomes law in October 2024, is set to transform public procurement in the UK. With a focus on Social Value and Wellbeing, the new law aims to ensure that every pound spent delivers greater value for public services. This means businesses bidding for contracts must demonstrate their positive impact on society, the economy, and the environment, rather than relying solely on price or past performance.

Social Value refers to how organizations contribute to their communities in areas like education, health, and environmental sustainability. Meanwhile, Wellbeing measures a company’s commitment to the welfare of its employees and the wider community. These principles align with the UN’s Sustainable Development Goals (SDGs) and will play a critical role in how contracts are awarded.

The Wellbeing Focus has long been operating by the values which will soon need to be demonstrated in this shake up to public procurement contracts. This means that as a business, we are well positioned as a training partner, as we are already meeting the mandatory criteria that needs to be in place for a supplier, before any new contract is awarded.

To give some examples of how we fulfill our social and wellbeing obligations:

Social value: Alongside our award-winning Women’s Development & Leadership Programme, you would be supporting a female led, independent business.

Wellbeing: We have proven results in improved retention rates and job satisfaction, as a result of our acclaimed Women’s Leadership Programme. Additionally, our workshops and training materials have a specific focus on wellbeing topics such as: Nutrition, sleep, mindfulness, stress management, women’s hormonal cycles and sustainable careers.

Social: Our ‘Pass it on culture’ You employ us, and we donate a coaching service to a local school or charity.

Environmental: We offset 100% of our carbon footprint by donating to Ecologi and trees planted for every new client.

With wellbeing, community, and sustainability at its heart, The Wellbeing Focus takes care of all your social value and wellbeing requirements, whilst delivering award-winning leadership development coaching.

Please email vicki@thewellbeingfocus.co.uk if you’d like to find out the ways you can work with us.