Active Integration of Stakeholders into the CR Roadmap 2018NORMA Group considers itself a transparent and open company that purposefully seeks to engage in exchanges with its stakeholders. For us, allowing stakeholders’ interests and the impact of our own business activities on stakeholders to influence our essential decision-making is simply part of responsible corporate management. We consider it particularly important to openly and appreciatively engage with our stakeholders’ positions, particularly with respect to our strategic orientation.
Exchanges via Target Audience-Oriented FormatsWe are continually in dialog with our most important stakeholder groups. This calls for us to use our departments’ and national subsidiaries’ contacts as well as comprehensive dialog forms. In the past we have initiated various formats for that communication. They have allowed us to directly comprehend and assess what our shareholders expect of our company. This ranges from regional formats (such as discussions with local mayors) to international communication about human rights issues and working conditions, an area in which we have taken a particularly strong leadership role along with the International Labour Organization (ILO). GRI [G4-26]
Moreover, NORMA Group is a member of various initiatives and associations for the purpose of actively working on social and political issues. GRI [G4-16]
Roundtable Unites a Variety of Perspectives
In the summer of 2015, we invited stakeholders to an inaugural roundtable with the aim of further developing our CR Roadmap. Approximately 20 representatives from civil society, politics, science, and business joined 15 of our own experts and senior executives to engage in active discussions on the direction that our company’s CR measures should take. The roundtable resulted in recommendations from the participants for a new CR Roadmap. (CR Roadmap 2018) Additional information and insights were provided by a quantitative survey on the relevance of certain CR issues for actions undertaken by NORMA Group.
The roundtable format is a good example of how NORMA Group actively seeks dialog with its stakeholders and systematically integrates the insights gained through this exchange in its strategic decisions. In the process, we are faced again and again with conflicting interests. For us, however, respecting our stakeholders means that we listen to their suggestions and assess the feasibility and possible consequences of alternatives from the company’s perspective. By making this process more transparent, we are demonstrating that there are opportunities for influence available to stakeholders outside the company, and we are also being open about the limits of those possibilities.
Results Incorporated into Materiality MatrixLast summer’s roundtable provided NORMA Group with an efficient process for evaluating the materiality of CR issues. Quantitative results concerning the relevance of CR issues were compared with internal assessments performed by the company’s own experts and senior management and then summarised in a materiality matrix.
This approach is in line with our general strategy of assessing the materiality of CR issues by synthesising the business potential of those issues with any outside expectations placed on the company. The Management Board and the CR Steering Committee found the materiality assessment and the qualitative results of the roundtable to be both helpful and effective for shaping Corporate Responsibility at NORMA Group. We have integrated these new insights into our CR Roadmap for the period through 2018, which has improved the Roadmap substantially. (CR Roadmap 2018) GRI [G4-18, G4-19, G4-20, G4-21, G4-25, G4-27]