Engaging with stakeholders
We define our stakeholders as those individuals or groups that have an interest in, or are affected by, the activities of the Provident Financial Group.
They are organised into the following groups: customers, communities, employees, suppliers, shareholders, investors and regulators.
We engage with these groups regularly to ensure that we are aware of their views and concerns. We do this through surveys and focus groups, and by participating in consultation exercises.
Our stakeholder engagement activities during 2015 involved:
- Identifying and prioritising material CR issues – this was performed to inform our Statement of Social Purpose and CR strategy, and to ensure that future CR reports comply with the Global Reporting Initiative’s G4 reporting guidelines.
- Customer engagement – conducting surveys and focus groups to determine levels of customer satisfaction with our products and services, and gathering information on the profiles of our customers. Our operating businesses also use online review and feedback systems, such as Feefo and Trust Pilot, which allow their customers to review their services and products.
- Employee engagement – carrying out staff surveys to monitor levels of engagement and gather feedback on our business strategies, and communication methods, as well as training and development.
- Community engagement – engaging with our community partners and the employees that take part in community volunteering activities to collect feedback which enables us to assess the impacts of our activities and evaluate the efficacy of our community programmes.
Public affairs engagement
We also engage with the government, political parties, regulatory bodies, consumer groups, trade associations, money advice groups and think tanks. Our discussions with these groups enable them to get a better understanding of our businesses, customers and sector. It also ensures that the views of our businesses, customers and sector are represented in relevant debates and discussions.