A survey by Gartner in 2020 asked more than 180 international companies “which main stakeholder groups are putting pressure on companies to act sustainably?” showed that the top 4 stakeholder groups are: customers, investors, regulators, and employees.
However, to build high-quality rapport with each group, you need to diversify your approach and align it with the demands based on the focus of customers, investors, regulators, and employees.
Hard Data Demand – Regulators and Investors
Both regulators and investors often demand sustainability hard data from you. Your approach towards these stakeholders should be driven by both quantitative and qualitative data. Performance reports, ESG reports, detailed information supported by data and graphs can all manifest your progress in a clear and comprehensive way.
Building Relations with Public Demand – Customers and Employees
Customers and employees are becoming more and more aware of the impact that brands create, and therefore tend to be more emotionally driven. Your approach needs to be transparent and supported by detailed information with photo/video documentation. All you need is a simple explanation of your activity using language that’s easy to understand, some photos and videos, all supported by clear and simple data and voila, you’re set.
Hard Data & Relations Building Demand – Business Partners
Business partners require a combination of both aforementioned approaches. On the one hand, your business partners need hard data to clearly see your company’s progress, and on the other hand, they need to know how you approach the general public (employees/customers). Even though it might be challenging to combine both of these strategies, using the right software will help.
Build Rapport with Stakeholders Using SmartHead Software
SmartHead’s solution, a cloud-based sustainability software, is a sustainability tool that combines both soft & hard data management and at the same time allows stakeholders to engage with your sustainability efforts and approaches. With the SmartHead tool you can manage, track, and report your sustainability and make it easily accessible and understandable for your various stakeholder groups.
Need help in integrating ESG principles into your business? Contact [email protected]