Stakeholder engagement is premised upon the notion that people, groups and organizations who can affect or are affected by the CSR programs of the organization should be given the opportunity to comment on and input to the development of decisions. In today’s society, if these stakeholders are not actively sought out, sooner or later they may demand to be consulted. The process for engaging stakeholders should be systematic, logical and practical.
By applying effective stakeholder management in a continuous, cyclic manner, the organization will learn lessons and improve the engagement itself, while developing relationships of mutual respect in place of one-off consultations. To be effective, this cyclic process should include periodic analysis which involves:
- Stakeholder mapping – planning and identification of potential partners
- Stakeholder segmentation – prioritization of potential partners for effective progress, engagement and integration
- Stakeholder engagement – invite a select number of parties to participate in a series of roundtable discussions on potential CSR initiatives
Benefits of Engaging Stakeholders
| New ideas generated | Stakeholder involvement and consultation will allow for more ideas to be realized than if the development and implementation of the program were confined to CSR staff only |
| Diverse perspectives included | Stakeholders bring a variety of perspectives from all sectors and elements of the entire system, giving a clearer picture of the community context |
| Buy-in assured, builds teamwork | By making stakeholders an integral part of the development, planning, implementation, and evaluation of the CSR efforts, they get a sense of ownership, and thus have an interest in seeing the work succeed |
| Fair to all | All stakeholders can have a say in the development of initiatives that may affect their own wellbeing and that of their family and friends, their finances and the environment in which they live |
| Ensures awareness | If the views of all parties are heard, concerns can be resolved before they become stumbling blocks |