Social impact is the effect of an activity on the social fabric of the community and
well-being of individuals and families. It is important for social businesses like Our Parklife to measure and report these outcomes for all stakeholders on and around Queen Elizabeth Olympic Park. In trying to measure our impact we are looking beyond the usual financial measures to try and assess the additional social, environmental value created as a result of our activities.
Diverse pathways into work were created for local people, ranging from grounds maintenance to customer service – 63% were local residents from the boroughs of Hackney, Waltham Forest, Tower Hamlets and Newham.
Of the people working on the park, 50 were previously unemployed. Also, over 60% are from a black, Asian and minority ethnic backgrounds, 35% are women and just under 10% have a disability. The value to the local economy is estimated at £1.3m.
Wellbeing from volunteering
Over 260 volunteers helped on the park in 2015; 126 were ‘core’ volunteers who undertook over 20 hours a week. Value of this volunteering for subjective wellbeing is worth £1,701,000. (DWP and Cabinet Office (Fujiwara et al, 2013)
In 2015 over 9,600 hours of labour were contributed by volunteers. Applying the London Living Wage, this is equivalent to over £87,800.