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Stakeholder relations
The Board has ultimate accountability
for stakeholder strategy and
engagement, recognising that
developing and nurturing dialogue
with key stakeholders is a driver of
business sustainability.
The Board acknowledges that Blue
Label’s relationship with its
stakeholders is a core capital, as
defined by the framework for
International Integrated Reporting.
The responsibility for satisfactory
stakeholder relationships vests with
every employee in the Group, as we
consider a good reputation to be a
competitive advantage, which affords
the Group the ability to create
additional value.
We approach stakeholders with trust
and respect and look to them for the
same mutual good faith. A broad
range of internal and external
stakeholders with a material or
potential interest in, or who are
affected by us, have been identified.
We recognise the importance of
identifying issues of a shared interest,
but also value the opportunity for
engagement, as it provides a unique
insight into the expectations of each
stakeholder group. We apply a
measured approach to interacting with
and responding to stakeholders, with
a view to establishing enduring
relationships. A stakeholder
engagement programme has been
formalised for key stakeholder
groupings. This process takes into
account the impact that each
stakeholder group may have on our
business, ensuring that the frequency
and form of engagement is aligned to
its estimated impact.
Some of the initiatives and methods
used in the process of engaging with
stakeholders comprise: face-to-face
formal or informal, individual or group
meetings (including the AGM), media
and securities exchange news
announcements, presentations,
roadshows, telephone and conference
calls, the Blue Label website
(www.bluelabeltelecoms.co.za)
,
investor site and trade visits. We rely
on the results of perception studies,
independent research, reputation
audits, whistleblowing facilities and
formal grievance mechanisms as well
as financial and sustainability reports.
In addition, we initiate newsletters,
circulars and e-mail updates, regular
customer, business partner and
supplier meetings, below and above-
the-line advertising and marketing
across various channels, formal
consultations and audit processes,
and host management and sales
conferences. Dialogue, review and
feedback are encouraged wherever
possible, which in turn are presented
to Exco for consideration.
We monitor the effectiveness of
stakeholder management by taking
cognisance of external and internal
inputs such as perception studies,
independent research, reputation
audits, whistleblowing facilities and
formal grievance mechanisms.
Blue Label’s stakeholder engagement
programme supports its efforts to be a
successful, stable and ethical company
contributing to the economic growth
of the communities in which we
operate.
The Board’s approach to
stakeholder management
In identifying and prioritising
stakeholders, the Board considers the
following criteria:
f
Groupings which interact with the
Group, or are directly or indirectly
affected by the Group’s activities;
and
f
Groupings which have a positive or
negative impact on our ability to
operate.
On listing in 2007 we identified our
key stakeholder groupings. On an
annual basis Exco assesses the
completeness thereof, with reference
to the ecosystem in which the Group
as a whole operates. This approach
to stakeholder identification and
engagement is cascaded to all
subsidiaries across the regions,
although each is responsible for
managing its own stakeholder
relationships. Any key concerns at
subsidiary level are escalated, either to
line management or via the Internal
Risk and Compliance Committee.
Stakeholder identification and
prioritisation is an ongoing process
and is evolving as the Group expands.
The Board’s approach to stakeholders
also embraces:
f
appreciating that stakeholder
perceptions affect reputation, and
therefore managing reputation risk;
f
delegating to management the
responsibility to deal with
stakeholder relationships;
f
overseeing the mechanisms and
processes for the constructive
engagement of stakeholders;
f
disclosing stakeholder engagement
in the integrated annual report;
f
striving to achieve a balance of
stakeholders’ legitimate
expectations in the best interests
of the Group; and
f
ensuring equitable treatment of
shareholders.
In profiling key stakeholder groupings,
the nature of engagement, the method
of engagement and the dialogue
process and outcomes are reported
alongside each grouping.
Stakeholder group
Employees
f
investing in the development of our
people.
Nature of engagement
Continuous communication with
employees covers matters of a strategic,
financial and operational nature,
including new developments, product
launches, health and safety initiatives,
internal policies and practices such
as the ethics hotline, competitions,
business initiatives, charitable initiatives,
human resource matters, staff wellness,
staff-related news and regulatory and
compliance matters.
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
51
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