What is the Stakeholder Engagement Module
The “Stakeholder Engagement” module of the BoréalisCSR suite helps companies to maintain a constructive relationship with stakeholders through the lifetime of a project. The module allows to consolidate a large volume of information associated to different spheres of stakeholder engagement. In particular with regards to the identification of stakeholders, analysis, planning, consultation, proactive management of issues and commitments, as well as a robust and systematic grievance management process. It therefore allows companies to align their business processes with the industry’s best practices of stakeholder engagement. More explicitly, it allows to:
- Follow up and understand the different stakeholder’s network having in interest with the project.
- Understand the issues and risks before they impacts negatively the project.
- Implement a proactive engagement model with stakeholders instead of a reactive one.
- Understand the key issues per date and location
- Develop opportunities for sustainable and constructive relationships with stakeholders.
- Demonstrate the rigor and transparency of the engagement activities
Benefits of the Stakeholder Engagement
The management and monitoring of engagement activities with stakeholders are crucial to maintain credibility, trust and support of the communities. Companies face endless engagement activities that are highly complex to monitor.
For companies, incorrect identification of Stakeholders, poor monitoring of commitments, activities and meetings can lead the loss of a social license to operate.
Fortunately, organizations can systematically monitor the quality of their relationship with Stakeholders by standardizing their processes through the implementation of an information management system (IMS). This system must be kept up to date and improved through the strengthening of company staff, resources and documentation, as well as thought optimizing performance and improving data quality.
- Improved business processes, through standardization
- Systematic gathering of information.
- Reliable, accurate and shared data.
- Data interpretation.
- Decision making based on updated and reliable data