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  2. Stakeholder Engagement

Stakeholder Engagement

Knowing Our Stakeholders Better

We are committed to creating enduring value for all our stakeholders. Our approach is to regularly engage in intensive and extensive dialogue with stakeholders to better understand their aspirations, collectively evolve feasible solutions and build a cogent plan of action. We have also instituted a thorough review mechanism of our stakeholder interactions and outcomes achieved to measure progress

OUR STAKEHOLDERS

EMPLOYEE & BUSINESS PARTNERS EMPLOYEES

This engagement involves improving employees’ experience, monitoring organisational health and enhancing the quality of life at the workplace. It further encompasses motivating employees to perform above and beyond their roles and improve their levels of trust and loyalty within the Company to enable increased employee retention, performance and innovation. Annual surveys, interactions with senior leadership, etc. are some of the ways in which the Company seeks to promote employee engagement.

CUSTOMERS

An understanding of customers’ needs helps to determine product quality and pricing. Customer needs and demands serve to guide product innovation and development in the Company. Reduction in environmental and social impacts of our products helps customers meet their sustainability goals.

SUPPLIERS/BUSINESS PARTNERS

The contribution of business partners is critical to our business and ensures operational efficiency through timely supplies and efficient logistics. We also depend on our suppliers to meet our objectives of sustainability and responsible sourcing, which play a significant role in promoting the safety of workers and the workplace.

COMMUNITIES

Community engagement leads to an understanding of vital social factors for sustainable community development. Caring for the community contributes to the Company’s overall business growth and sustainability, led by reduction in any negative impact of business on environment or our people. Community engagement also serves to improve the economic well-being and quality of life. Discussions with the community aid the Company to finalise initiatives leading to overall community growth and development.

GOVERNMENT

Business contributes to nation-building through taxes, royalties and employment creation. Engagement with the government, be it alignment with the government’s policy vision or in a partnership is essential for implementation of our sustainable business operations that creates a multiplier impact by generating key opportunities that positively impact the nation. Working in alignment with the government entails meeting the compliance requirements as per the statutes and policy advocacy on subjects relevant to the Company in its core business of exploration, mining and smelting.

SHAREHOLDERS

Shareholder support and feedback on operations provides continual guidance to the management and serves to keep governance on track. Keeping the Company’s communication channels open with analysts and the investor community serves to connect them with the management. The Company maintains a strong focus on ESG concerns, which are of importance to shareholders too.

NGOs

Onboarding and engaging experts for effective implementation of the Company’s CSR programmes, besides regularly discussing and sharing updates, has served to strengthen the implementation of existing programmes.

Stakeholder Group

Suppliers

Purpose & Scope of Engagement

  • Critical to ensure operational efficiency through timely supplies & logistical efficiency
  • Vital to our goals of sustainability and responsible sourcing
  • Safety of workers and workplace

Engagement Platforms/ Channels

  • Contract negotiations, supplier code of conduct, policies & standards
  • Regular supplier meetings and site-visits
  • Vendor due diligence and pre qualification meetings
  • On-site quality audits of critical suppliers
  • Supplier sustainability desktop assessment
  • Helpdesk for speedy resolution of supplier query
  • Webinars for supplier engagement
  • Tracking business partners suggestions for possible implementation
  • Focussed discussion on ESG goal alignment with critical suppliers

Stakeholder Group

Communities

Employees

  • Community outreach is vital to understand the needs & expectations of the community & further accordingly plan the interventions for them. Such interventions shall further support national progress, as well as smooth business operations
  • To enhance their quality of life & overall wellbeing
  • Reduction in the environmental & social impacts that may affect communities
  • Capacity building, strengthening grassroot institutions and livelihoods of the nearby communities

Customers

  • CSR initiatives, events and interventions
  • Robust grievance mechanism through strategic Social Performance Committees
  • Leadership community connect and community meetings
  • Third-party assessments - Impact assessment survey and perception studies
  • Communication via newsletters, leaflets, hoardings, print and social media, etc

Stakeholder Group

Government & Regulatory Authorities

Employees

  • 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
  • Meeting the compliance requirements
  • Policy advocacy on subjects relevant to company
  • Suggest projects to district administration/mining engineer offices for consideration & utilising of District Minerals Foundation Trust (DMFT) funds in mining areas

Customers

  • Advocacy on favourable policy matters through panel discussions, technical representations with various trade and industry associations, state/central mines departments and MOEFCC, etc.
  • Regular engagement with various regulators, local administration, inspection bodies, industry associations, etc.
  • Partnerships in the Government's social welfare programmes through active participation and sponsorships
  • Regulatory, legal compliances and reporting

Stakeholder Group

Shareholders, debenture and other security holders

Employees

  • Shareholder support and feedback on operations provides continuous guidance for the management and governance
  • Keeping communications channels open with analysts and investor community and helps to connect them with the management
  • Apprising them about the operations and sustainability initiatives regularly. ESG concerns are of importance to shareholders

Customers

  • Annual General Shareholders Meetings; financial results declaration (quarterly) and earnings calls with senior management
  • Investor Relations events; one-on-one investor meetings, investor conferences, NDRs
  • Disclosure tools, including Annual Reports, Sustainability Reports and Tax Transparency Reports, Investor Presentations
  • Complaints and grievance management

Stakeholder Group

Employee & Business Partners Employees

Employees

  • Improve employee experience, monitor organisational health, and provide a better quality of life at workplace
  • Through enhanced growth opportunities, we motivate employees to perform better and improve the levels of trust and loyalty within the Company, resulting in increased employee retention, performance, and innovation
  • Annual employee surveys help us assess how employees navigate their experience and areas of improvement
  • Employee engagement helps in maintaining their positive mental health and motivates employees thereby enhancing productivity
  • Enable direct interaction of employees with the senior management to understand needs and requirements at grassroots level
  • Develop an inclusive workplace through experiences shared from our underrepresented communities with our employees and their families

Customers

  • Emails as an official and transparent communication medium
  • Mentorship programmes for new hires with senior leaders
  • Sampark townhall meetings with the CEO, location townhall with location heads and pulse checks by HR teams
  • Flyers to communicate behavioural, motivational and other aspects, promoting a positive work environment
  • Focus group discussions by leaders and one-on-one discussions with managers
  • Grievance handling portals and Company website
  • Company website for significant communication
  • In-person family gatherings during festivals and events to enhance positive atmosphere and develop a healthy community
  • Awareness of employee benefit policies via regular connects
  • Annual employee surveys (internal and external)

Stakeholder Group

Development Organisations

Employees

  • To onboard & engage experts in the field for effective implementation of the CSR programmes as well as to regularly discuss & share updates to strengthen the existing programmes implemented.

Customers

  • CSR initiatives, events and interventions
  • Robust grievance mechanism through strategic Social Performance Committees
  • Leadership community connect and community meetings
  • Third-party assessments - Impact assessment survey and perception studies
  • Communication via newsletters, leaflets, hoardings, print and social media, etc.
  • Review & Governance Mechanisms

Stakeholder Group

Customers

Employees

  • Understanding their current requirement in the market, disruptive industry trends and scope of new zinc & lead applications
  • Current level of serviceability and areas of improvement in same to create a buyer/user-friendly experience
  • Product development is guided by customer requirements basis their zinc application and any changes in their customer products
  • Discussion on ESG and sustainability practices being adopted to reduce environmental impact
  • Improving ease of business by understanding their concerns to become a preferred supplier to domestic customers

Customers

  • Intuitive Vedanta Metal Bazaar online platform for continuous engagement and feedback
  • Periodic connects with key customers by senior executives and top management
  • Biennial customer satisfaction survey y Forum for quick customer query resolution
  • Voice of customers workshops chaired by CEO & CFO to understand their concerns and feedback

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