We often meet organisations who are doing a lot of positive work but are solely focusing their efforts on an annual report to share progress.
In this article we weigh the pros and cons of traditional reporting methods and explore the reasons why organisations can benefit from adopting stakeholder-led communication strategies.
Can “one-size-fit-all”?
Annual sustainability reports have become increasingly comprehensive documents filled with data and detailed narratives that often don’t connect with different audience groups. They can suffer from a “one-size-fits-all” approach, which dilutes the relevance of the information for different stakeholder groups. For example, investors might be primarily interested in the financial implications of sustainability initiatives, while customers could be more focused on the environmental impact of the products they purchase.
To combat this, there have been valuable changes to the reporting landscape with the introduction of new international standards, including CSRD. These are set to ensure that credible, comparable and transparent progress is shared with targeted stakeholders.
Whilst annual reports are important (and often a legal requirement), a lengthy report attempting to cater to all stakeholder interests may fail to be an effective engagement tool.
A refreshed approach to communicating impact
As the landscape of corporate communication evolves, we recognise that reporting needs to be complimented by targeted, stakeholder-led communications.
This shift offers several advantages. It allows companies to deliver the most relevant information to each stakeholder group, enhancing engagement and understanding. By tailoring messages to the specific concerns and interests of each group, companies can ensure that their efforts are communicated ways that resonate with their audiences.
Stakeholder-led communications emphasise the importance of listening to stakeholders and responding to their feedback. This two-way communication model is crucial in building trust. When stakeholders feel that their voices are heard and their concerns addressed, they are more likely to support the company’s sustainability initiatives.
Where to get started with your communications strategy
- Identify and map key stakeholders
To create a stakeholder-led communications strategy, an organisation should begin by identifying and mapping its key stakeholders, including customers, employees, investors, and even unlikely influencers, such as local artists or activists, whose voices might add unexpected value.
This process involves understanding their needs, expectations, and influence on the organisation.
- Engage and gather feedback, ideas, opportunities and risks
A creative approach to engagement will help you gain a deeper understanding of stakeholders’ needs, expectations, and influence on the organisation. Using the feedback, identify the types of communications and messages that will resonate with different groups.
At JustOne we are sustainability and reporting specialists, with other 30 years combined experience across the team. Collectively we have strong track record of developing industry leading strategies and creating powerful communications that authentically deliver updates of progress and impact. Learn more about our work here and get in touch at hello@justone.uk