STAKEHOLDER ENGAGEMENT
Creating mutual wins
Stakeholders play a very significant role in the JSW universe. With extensive and in-depth consultation with all stakeholders, we find better ways and means of operating responsibly to craft a value-creating paradigm where everybody wins. We undertake need-based interventions to resolve the concerns of our stakeholders and strengthen our relationships for a rewarding journey together.
Strategic stakeholder engagement
Without examining the broader and longer term factors governing the business context, any business is at risk of being caught off-guard, threatening its sustainability. Therefore, by engaging with strategic stakeholders, businesses stand a greater chance of foreseeing, and therefore, planning for any such disruptions. At JSW Steel, we take the broad steps mentioned below for conducting strategic stakeholder engagement and ensure our preparedness. Our robust stakeholder engagement process enables reliable stakeholder expectations mapping and guides our strategy development and decision-making processes. This helps us take appropriate actions to deliver on stakeholder needs and meet their respective expectations.
STAKEHOLDER ENGAGEMENT PROCESS
STAKEHOLDER
Customers
ENGAGEMENT FORUM
- Customer meets
- Official communication
channels, including
advertisements
publications,
website and social media - Conferences and events
- Customer feedback
- Customer satisfaction survey
- Phone calls, emails and meetings
- Customer visits
- JSW Shoppe
KEY OUTCOMES
- Timely delivery
- Wide range of high-quality products that meet customer requirements
- Competitive pricing
- Easy availability through large distribution network
- Post-sales support
- Digital CRM to ensure quickly accessible customer support
STAKEHOLDER
Employees
ENGAGEMENT FORUM
- JSW World – Intranet portal
- Newsletters
- Employee satisfaction surveys – JSW Voice Pulse Survey
- Emails and meetings
- Training programmes such as Springboard
- Employee engagement initiatives such as WeCare and Samvedna
- Performance appraisal
- Grievance redressal mechanisms
- Notice boards
KEY OUTCOMES
- Satisfaction and motivation
- Fair wages and rewards
- Improved work-life balance
- Regular training and skill development
- Career growth
- Safe and secure work environment
STAKEHOLDER
Community and civil society/NGOs
ENGAGEMENT FORUM
- Need assessment
- Meetings and briefings
- Partnerships in community development projects
- Training and workshops
- Impact assessment surveys
- Official communication
channels, including
advertisements,
publications,
websites and social media - Complaints and grievance mechanism
KEY OUTCOMES
- Local employment and procurement
- Infrastructure development
- Funding for community development
- Training and livelihood programmes
- Contribution to local economy
STAKEHOLDER
Government and regulatory bodies
ENGAGEMENT FORUM
- Official communication
channels, including
advertisements
publications,
websites and social media - Phone calls, emails and meetings
- Regulatory audits/ inspections
KEY OUTCOMES
- Aligning with the government to support economic development
- Continued contribution to the exchequer
STAKEHOLDER
Institutions and industry bodies
ENGAGEMENT FORUM
- Conferences
- Joint R&D initiatives
- Internship opportunities for students
KEY OUTCOMES
- Exchange of knowledge
- Collaboration in R&D
- Industry exposure for students
STAKEHOLDER
Investors and shareholders
ENGAGEMENT FORUM
- Analyst meets and conference calls
- Annual General Meeting
- Official communication
channels, including
advertisements
publications,
websites and social media - Investor meetings and roadshows
KEY OUTCOMES
- Sustainable growth and returns
- Excellent operational performance
- High standards of corporate governance and risk management
- Compliance with global ESG norms and setting benchmarks in key areas
STAKEHOLDER
Suppliers
ENGAGEMENT FORUM
- Vendor assessment and review
- Training workshops and seminars
- Supplier audits
- Official communication
channels, including
advertisements,
publications,
website and social media
KEY OUTCOMES
- Timely payment
- Continuity of orders
- Efforts to increase ESG awareness
- Capacity building
- Transparency