Business case 2
How stakeholder engagement supports impact measures
To achieve meaningful progress, a promising impact strategy requires active participation. Stakeholder engagement is a crucial component of impact efforts, as it enables companies to understand the needs and expectations of their stakeholders and incorporate them into their impact strategies. In this business case, we will explore how stakeholder engagement supports impact measures and why it is essential for companies to prioritize this practice.
Due to short staff in our communications department we decided to go for the managed approach.
- short briefing of a planeed partner agency
- agency provides a start set of posts and Action Points for review
- call out to all stakeholders to join us on planeed
Understanding stakeholder engagement:
Stakeholder engagement refers to the process of involving stakeholders in decision-making processes that affect them. In the context of impact, stakeholders include a range of individuals and organizations, such as customers, employees, suppliers, investors, local communities, and non-governmental organizations (NGOs). Engaging with these stakeholders is critical to impact efforts, as they can provide valuable insights and perspectives that help companies develop more effective and impactful strategies.
- managed planeed is a perfectly lean and easy approach for our needs
- easy and fun access to all our impact activities
- compared to other channels we engage stakeholders day by day and step by step and do not overwhelm with all information at one time
- instance feedback and analytics in the ESG management suite of planeed
Engaging stakeholders to promote purposeful practices:
Identifying Impact Priorities: Stakeholder engagement can help companies identify the most significant impact priorities for their business. By engaging with stakeholders, companies can gain insights into the most pressing impact issues in their industry, region, or market. This information can then be used to develop impact strategies that address these issues and align with stakeholder expectations.
Building Trust and Credibility: Stakeholder engagement can also help companies build trust and credibility with their stakeholders. By involving stakeholders in decision-making processes, companies demonstrate that they value their input and are committed to addressing their needs and concerns. This can help build trust and credibility with stakeholders, which is critical for long-term business success.
Enhancing Impact and Effectiveness: Stakeholder engagement can also help companies enhance the impact and effectiveness of their impact measures. By incorporating stakeholder perspectives and insights into impact strategies, companies can develop more effective and impactful initiatives that address the most significant impact challenges in their industry or market.
Encouraging Collaboration and Innovation: Stakeholder engagement can also encourage collaboration and innovation among stakeholders. By involving stakeholders in impact efforts, companies can foster a sense of shared responsibility and collaboration, which can lead to more innovative and effective solutions to impact challenges.
- 1/2 day briefing and 2 hours review time due to managed planeed
- 10 posts and 10 Action Points as start
- 2 new posts and 1 Action Point per week as regular feed updates
- 72% engagement rate on stakeholders
Stakeholder engagement is an essential component of impact efforts, and companies that fail to engage with their stakeholders may miss out on valuable insights and perspectives that can help them develop more effective and impactful strategies. Platforms like planeed can provides a collaborative space for companies to connect with their stakeholders, share information, and solicit feedback on initiatives. By leveraging planeed, companies can ensure that they are effectively engaging with their stakeholders, including employees, customers, suppliers, and community members, in order to develop more effective and impactful strategies. This allows them, to identify priorities and receive valuable insights and perspectives, which can help build trust and credibility, enhance impact and effectiveness, encourage collaboration and innovation, and ultimately help achieve their impact goals.
The efficiency – workload and costs versus outreach – of planeed is amazing.