At Hindustan Zinc, we have been proactively engaging our stakeholders as their participation is key to successful implementation of all our strategic interventions. These initiatives ranging from driving sustainable consumption patterns, efforts to reduce environmental impact, incorporating human rights principles, values and codes of conduct to uplifting communities, or contributing to the nation’s growth and development, need participation of various stakeholders like customers, suppliers/vendors, business partners, local people, government and regulatory authorities etc. Therefore, delivering value to all stakeholders and being able to achieve full participation is a fundamental prerequisite of mutually beneficial and long-lasting relationships.
To guide our approach to stakeholder engagement, we have established Stakeholder Engagement Standard. The process is cascaded down to all respective sites where each one needs to individually identify and conduct analysis of stakeholder engagement process. The appointment of respective stakeholder representatives enables this exercise to be conducted more efficiently as these representatives act as a channel to enable two-way engagement between the organization and stakeholders.
In addition, the respective teams at the organization level help in identifying individuals and groups who may be affected by our operations and may otherwise go unnoticed due to their disadvantaged position. The ways in which stakeholders may be affected, as well as the extent of both actual and perceived impacts, are identified and recorded for each group. Utilizing the information that is gathered, we liaise with the stakeholders to determine the level of communication and consultation that is appropriate. From this, Stakeholder Engagement Plans (SEPs) are derived, and periodically reviewed and updated as needed.
Understanding of their needs helps in determining product quality & pricing
Product innovation development is guided by customer requirements
Critical to ensuring operational efficiency through timely supplies & logistical efficiency
Vital to our goals of sustainability and responsible source
Community outreach is vital to national progress, which translates into a congenial macro environment for business growth
Positively touching lives of people and there by enhancing their quality of life & wellbeing.
Contribution of our business to nation-building through our products, taxes & royalties
Support to Government’s on-ground initiatives through CSR & contribution to local economy
Shareholder support & feedback on operations provides continuous guidance for the management and governance
Employees help meet business goals with their collective knowledge & experience, by initiating best-in-class people practices
Employee productivity is critical to driving performance & generating value
Our engagement with each of our stakeholder groups is built on multiple stakeholder-specific platforms, driven by a collaborative approach. Cognizant of the importance of our stakeholders to our brand image and reputation, we remained wholly committed to strengthening and expanding these platforms during the year under review.
In order to monitor and measure progress, we have in place a well-formulated review mechanism that tracks stakeholder interactions and the outcomes achieved.
Hindustan Zinc with engages its stakeholders on a regular basis to ensure that their voice is heard. If a stakeholder still has a grievance, we have a well-defined redressal process in place. We have a Grievance Committee, chaired by the respective unit heads, to address the stakeholder grievances on a periodic basis. An apex committee, chaired by the location head, meets every quarter and the unit level committee meets every month and are apprised on the grievance received and action taken by the respective committees.
We believe that our sustained focus on maintaining close stakeholder engagement will help us in delivering excellent business outcomes and value in the long term.