List of stakeholder groups
Collective bargaining agreements
27% of employees are covered by collective bargaining agreements.
Identifying and selecting stakeholders
Working systematically with interested parties and evaluating their perspectives on economic, social, environmental, ethical and governance issues helps us strengthen dialogue. It allows us to better address their concerns and manage the direct or indirect impact on Givaudan. This approach can be used as a strategic management tool, it helps build stronger and lasting relationships with key stakeholders, allows us to manage our business successfully and also lays out the basis for our materiality assessment.
When we set out to develop a materiality matrix in 2011, we carried out a wide-ranging assessment of our stakeholders to determine who had the greatest impact on us and on whom we had the most effect. We identified six key stakeholder groups from a list of more than 200 organisations: customers, suppliers, investors, public and government agencies, local communities and employees.
Givaudan has developed specific tools to support interaction with the various stakeholder panels at both global and local levels. We also review and evaluate diverse stakeholder engagement initiatives existing across the Company and continuously monitor their relevance in a two-stage process.
First, we map each direct engagement with an external organisation by considering its relevance to several areas: our stakeholder groups; the key issues in our materiality matrix; the three focus areas of our sustainability approach, and to the Sustainable Development Goals on which we have an impact. Then we look at every current or potential external engagement and assess it against several criteria: local or global engagement; membership criteria and membership fees; participating customers and suppliers; participating competitors; participant profiles; type of sessions; size of groups; impact on our sustainability approach; risks and benefits. Based on the outcome, we decide whether to pursue a current engagement or seek opportunities with new organisations. We then suggest actions to be taken within the engagement for the next three years.
Approach to stakeholder engagement
Listening to our stakeholders is a core element of our sustainability management practice. Their feedback helps us understand expectations and it contributes to the development of our overall sustainability approach. We gather the views of our stakeholders by inviting them to discuss critical issues and strategic priorities. We create dialogue groups to understand how our business affects stakeholders and to determine the most material impacts to be managed.
The sustainability aspects listed in the Givaudan materiality matrix are presented to stakeholders to allow them to confirm which they see as the most important topics, and which they would like to discuss or know more about. The process gives stakeholders a genuine role in setting the direction of our sustainability approach and prioritising the issues in the matrix.
Ultimately, through stakeholder dialogue, we seek to identify opportunities to improve management and our relationships, as well as create projects for our mutual benefit. This allows us to focus our drive for greater sustainability in those areas that are most important to our key stakeholders. Givaudan has many channels for stakeholder dialogue spread across different departments and teams; this also includes the information and feedback we receive during the ordinary course of business.
Key topics and concerns raised
The engagement channels as well as key topics and concerns raised per stakeholder group are listed in the following diagram: