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Workshop F, A healthy respect for benefits by David Waller and Hugo Minney

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Workshop F
A healthy respect for benefits
by David Waller and Hugo Minney
Benefits Summit 2015
Thursday 25th June
London

Published in: Business
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Workshop F, A healthy respect for benefits by David Waller and Hugo Minney

  1. 1. A Healthy Approach to Benefits  Hugo Minney  David Waller
  2. 2. Basics of Benefits Management A benefit is a result that a stakeholder perceives to be of value. Benefits Management is the identification, definition, planning, tracking and realisation of business benefits Social Return on Investment (SROI) is a framework for measuring and accounting for a broad concept of value; it seeks to reduce inequality and environmental degradation and improve wellbeing by incorporating social, environmental and economic costs and benefits.
  3. 3. Benefits can be more than profit  Not-for-profit - how to measure return on investment? • Savings on other possible costs to the public purse • A value assigned to Quality of Life, or Happiness • Future impact on the economy  For Profit and Commercial • Customer satisfaction – an indicator of future business • Staff satisfaction – R&R and productivity • IP portfolio
  4. 4. Change happens because people make it happen  A clear vision  A way to measure progress  A clear connection between what is done and what is achieved  Something that motivates people (The basic benefits questions of any Change): • Who is it all actually for? • What do they really want out of it? • What makes this choice better than Plan B?
  5. 5. Considering Social Return on Investment (and any other investment which plans to achieve more than PROFIT) 1. Establish Scope and identify key stakeholders (Stakeholder Mapping and real Engagement) 2. Map outcomes (impact map/ theory of change) including 2nd and 3rd level impacts 3. Evidence outcomes and give them a value (Value is only what is described by stakeholder. What numbers are defendable?) 4. Establish impact (what would have happened anyway? What is attributed to what?) 5. Calculating SROI – and if you want to do it properly, sensitivity analysis 6. Reporting, using and embedding
  6. 6. Who doesn’t like SROI, and alternatives to SROI  If everyone can be measured using the same framework – exposure(!)  Using untrustworthy numbers or anecdotes – whoever let fact spoil a good opinion?  LM3, Environmental Impact Analysis, Return on Investment, SROI-lite
  7. 7. Stakeholder Mapping – ‘Circle of Friends’ Important Influencing Interested
  8. 8. WIIFM  Take one of the stakeholders from the centre and list the non-financial benefits they want to see A benefit is a result that a stakeholder perceives to be of value.
  9. 9. Measuring the SROI  Care Commissioners want to see empowered patients (on the assumption that empowered patients take more care of themselves and so make less demand on resources)  Empowerment: • Understand their condition and what they can do about it (scale?) • Take action to self-manage (scale?) • Impact on other resource use
  10. 10. The calculations for Empowered patients  How many people are more empowered?  How much are they more empowered (may need to segment into types of empowerment)?  What difference does it make: • Quality of Life (and what’s our value assigned? Who for?) • Happiness (value assigned) • Use of resources (over next 12 months, next 36 months, next 5 years?) – predicted based on experience/ research
  11. 11. What would have happened anyway?  What’s the normal progression of disease/ decrepitude? (without empowerment) • When do they need residential care? • When do they need hospital care? • What’s changed in society’s attitudes?  How much would this normally cost?
  12. 12. Benefits Mapping
  13. 13. Benefits Mapping  Map the links from 1 Patient, 1 Record to More Empowered Patients and through to the BSC Objectives  Use the Information Project template as a guide
  14. 14. What gets you up in the morning?  Nobody comes in to work to do a bad job (well, almost nobody)  We all want to make a difference – make the world a better place  Very few people work just for the money* • Osterloh & Frey 2007 Does pay for performance really motivate employees? • PwC NextGen 2013: Millennial workers want … “I can tell my grandchildren ‘I did a good job this week’ “
  15. 15. Driving improvement  We (the people who talk to the client/ do the work) see the need/problem first!  We know what to do about it (have the most experience)  We can inspire*  We won’t resist our own design for change  (a new problem – managing configuration) Malcolm Gladwell – Tipping Point
  16. 16. When the best leader’s work is done, the people will say: “We did it ourselves” Lao Tzu
  17. 17. Hugo Minney PhD, RPP Acc Prac SROI M APM, PRINCE2 07786 961837 Hugo.Minney@TheSocialReturnCo.org David Waller MBA MBCS CEng CITP 07780 533876 david.waller@keldale.com

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