The social value measurement looks at the social, economic and environmental benefits of a business.
The majority of this figure is made up of the company’s local economic value (£587m), employing over 17,000 of its 45,000 people within 15 miles of their homes. Its work with apprenticeships, community support and social enterprises have also contributed towards its overall social value impact.
Chris Chidley, Compass Group UK & Ireland Social Value Executive Team Sponsor, said: “As a large employer, we recognise we have the ability to change people’s lives, as well as have a positive impact on the communities in which we work.
“It’s been really interesting to have our social value measured and we are delighted to see the positive impact we are making in communities and for our clients around the country. We see this initial measurement as a great baseline to build on.
“We know we already do some great work, but having this insight helps us to identify where any gaps may be and areas that may require further focus. We are looking forward to seeing how our social value has further grown as a result of the activity we have carried over the past 12 months. Supporting both our communities and our people is central to who we are as a business.”
Compass promised to support a million people with opportunities and change their lives through job creation, education, training, community and charitable engagement by 2030. Key social value highlights include:
- Over 8,263 weeks of apprenticeship training delivered to support 301 apprentices; with a further 600 apprentices being supported now
- £1.2m spent with social enterprises in 2021 and a further £5m spent in 2022
- Over £230,000 invested in mental health support for employees
- 7,260 hours of equality, diversity and inclusion training delivered
Guy Battle, chief executive at Social Value Portal, added: “It has been great to see Compass fully embrace delivering social value as part of their business DNA. As a leading UK employer, the commitments being delivered through their Social Promise are phenomenal and demonstrate the significant positive impact organisations can have on local economies and society, which is especially important given the times we are living in.
“We are thrilled to play our part, with the National TOMs framework chosen to underpin the measurement and reporting of their social value, both at a business level and across their sectors, suppliers and individual contracts.”