The social and economic context in continuous evolution and the increasing awareness of consumers require every company to know how to cope with the new dynamic scenarios. For this reason, a structured approach to stakeholder engagement is fundamental, also in terms of reputational risk management.
For the Intesa Sanpaolo Group, the institutionalised forms of stakeholder engagement are opportunities for listening and dialogue, that are essential for understanding the level of satisfaction of its stakeholders in relation to the work carried out by the Bank. For certain Departments, stakeholder engagement is at the heart of their work - for example Customer Satisfaction Service, Relations with Consumer AssociationsOffice and Investor Relations Service.
For several years, Corporate Social Responsibility has been promoting ways of engagement that are focused on social and environmental responsibility and an increasing inclusion of these issues in the traditional and institutionalised engagement activities. In this period, the process of including stakeholders in CSR issues has progressively developed: from an initial phase where listening was substantially aimed at resolving critical situations, to the definition of structured processes which are planned each year and are increasingly based on business and management activities. Preventative listening to our stakeholders (not as a result of a "reputational crisis") aids us in establishing a relationship of trust between the company and stakeholders, and, at the same time, in identifying new opportunities with a view to competitive positioning on the market.
Generations of Stakeholder Engagement (AA1000, AccountAbility, 2015)