MYTILINEOS returns €3.32 in social value for every €1 invested
The total investment for the #HoMellon program generated a social value of € 222,224.
The two-year cycle of the social program, “#HoMellon” by MYTILINEOS, was completed in cooperation with the Social Enterprise knowl. The program’s main purpose was to help reintegrate into the labor market, citizens who were housed in long/short-term homelessness structures or were living in precarious conditions.
A total of 50 individuals participated during the implementation of the two-cycle program. The challenge of it was the combination of: (a) customized education and the development of professional and other skills, (b) improvement of their self-confidence and optimism, and (c) linking to the labor market, in order to assert and maintain a place in the labor market.
The results justify MYTILINEOS’ initiative, since 29 of the 50 participants in the program have already found a job, and 7 of them are now living in their own homes.
Upon completion of the program, MYTILINEOS identified and analyzed its social value through the methodology Social Return On Investment (SROI). The Company applies this methodology in the significant social programs it implements, constituting an innovation and a pioneering method in the field of industry.
According to this analysis, the total investment for the #HoMellon program generated a social value of € 222,224, with SROI index equal to 3.32:1.
Specifically, for every € 1 invested in this program, €3.32 of social value were retributed, highlighting the program’s social and economic value for both the beneficiaries and the community.
According to the analysis, the significant positive social impact and main changes experienced by the direct beneficiaries were the following: finding a job, which led to an increase in personal income, a strengthening of their skills in dealing with difficult situations, an increase in their resilience and, overall, a better psychological state. In addition, the program has generated multiple benefits not only for the main beneficiaries, but also for each party involved in its implementation. Research shows that continued training, education, and empowerment is an effective solution to support homelessness.