Quantifying the Social Value of the UK Construction Industry

Watts, Gregory; Khan, Waleed; Maleki Sadabad, mo

Abstract

Since the introduction of the Social Value Act in 2012, a focus on time, cost, and quality is no longer sufficient to guarantee procurement success. However, to only communicate social value achievements as part of tender submissions may be viewed suspiciously. Therefore, many construction contractors produce annual reports showcasing their social value. Despite this, the construction industry is often viewed negatively, with even positive benefits (such as those arising from social value action) often ignored when forming industry perceptions. However, construction has been a leading industry for creating social value. Yet, as an industry, it often fails to effectively illustrate and quantify the positive societal benefits it creates. This failure is a problem for the whole construction industry as it proliferates the negative perceptions amongst stakeholders and serves to obfuscate the benefits the industry brings to society. The aim of this research is to quantify the annual social value construction contractors create to illustrate the positive benefits that result from industry action. A qualitative content analysis of leading contractor annual reports is undertaken. The results reveal that contrary to some stakeholder perceptions, the social value created each year by the construction industry is substantive and impressive. This research contributes to addressing negative industry perceptions and illustrating the positive societal benefits the construction industry brings above and beyond those of designing, constructing, and maintaining the built environment itself.

• Presentation Conference Type: Conference Paper (published)
• Acceptance Date: Oct 1, 2024
• Publication Date: 2024
• Deposit Date: Oct 18, 2024
• Publicly Available Date: Oct 21, 2024