Godrej Sustainability Report

28 MATERIALITY ASSESSMENT MATERIALITY ANALYSIS PROCESS: Materiality assessment is an approach that helps in identifying significant economic, environmental and social issues. Materiality assessment helps a company better understand the sustainability landscape, which enables the Company to focus and act on those issues that are highest priority for the business. With new stakeholder campaigns, public policy debates, standards, regulations, and global events, the universe of potential "material" issues is growing. During the reporting period, G&B undertook a detailed exercise involving its key stakeholders to identify and prioritize its material issues and strengthen its focus areas for sustainability initiatives. STAKEHOLDER GROUP ENGAGEMENT OBJECTIVES ENGAGEMENT MECHANISMS AND FREQUENCY Identification of universe of material topics Risk assessment Stakeholder interactions Identification and prioritization of material topics • Understand concerns and expectations, create higher shared value. • Regular dissemination of financial performance through published reports • Develop a sustained relationship • Anticipate short and long-term expectations • Periodic one-to-one interactions with key customers • Interactions at customer touch-points • Annual Customer Satisfaction surveys Customers • Understand their career ambitions, job satisfaction parameters, support career growth, training and development. • Share the Company's vision, short-term and long-term goals, workplace needs and expectations. • Structured appraisals, career path guidance, training programs, employee rewards, recognition and development programmes. • Let’s Talk annual employee feedback survey Employees • Understand compliance and applicable regulations • Collaborate on nation building • Submission of relevant compliance documents • Participation in industry forums Government • Policy advocacy and though leadership • on future regulations, policies and implementation plans. • Memberships in leading industry association • Participation of senior management in key forums and events Industry Associations Investors • Developing and supporting local economies and communities • Structured CSR initiatives • Society Need assessment survey Focussed group discussions with the community • Impact assessment studies Local Community • Sharing of mutual expectations and needs with regard to quality, cost and timely delivery, growth plans • Sharing of best practices • Periodic one-to-one interactions with key suppliers and dealers • Periodic engagement meets Suppliers & Dealers