Remembering research that shows the social value of Residential Child Care
In the current circumstances isn’t a report summarised as follows essential reading? Using Social Return on Investment (SROI) principles, this report reveals how market approaches in residential care are in effect ‘trading’ the futures of our most vulnerable children, by prioritising short-term cost savings.
Such is the turnover of commissioners, MPs, and DCSs the concept of social value appears to have fallen from use, curriculum, and memory.
It’s absent from the Care Review and Children’s WellBeing Bill.
Remembering this 2008 report arguing the positive social value of RCC
A false economy – New Economics Foundation.
A false economy | New Economics Foundation
Social Value was big news 17 years ago. How has it been forgotten? Why has it been forgotten? An inconvenient perspective?
The research report provides sound articulated evidenced reasoning for a pause for thought and reconsideration of the continuing with the current paradigm of price alone.
Using Social Return on Investment (SROI) principles, this report reveals how market approaches in residential care are in effect ‘trading’ the futures of our most vulnerable children, by prioritising short-term cost savings.
nef’s Measuring What Matters programme sought to move away from a culture within government that is short-term and target-driven, towards one that enables the pursuit of real social, environmental and economic well-being
nef set out to answer two main questions:
- Is there a more meaningful way of looking at the benefits of this kind of provision for young people, one that takes better account of their own experiences?
- If so, does such a method show specialist therapeutic provision to be worth the financial investment it demands?
Findings
The economic analysis found for every additional pound invested in higher-quality residential care, between £4 and £6.10 worth of additional social value is generated.
