An economic approach to measuring the impact of transforming peer involvement
Change – the impact of Real-Insight:
Real-Insight is developing ways to change peer-involvement. A significant facet of this work is to pin-point where peers can make a useful contribution back to the organisation that supports them. The financial measurement of this approach will determine whether there is a pronounced, economic shift that can be identified and what such a shift would tell us.
What does this mean?
Peers have the potential to give back to the organisations that support them. In bald financial terms:
If 500 peers worked 35 hours a week in a standard job earning the London Living Wage, they would generate a combined income of £8.6m and £1.7m in tax and NIC receipts.
If an organisation could capture just 1% of that of that talent, it could generate the equivalent of £90,000 worth of resource to improve its services.
It must be possible for a skilled, supportive organisation to find and harness 1% of the talents within its peers.
Our economic work is designed to help unearth these resources and to measure their financial impact.
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