VTech Holdings Limited
12
VTECH APPROACH
Stakeholder Engagement
Stakeholder Engagement Approach
Stakeholder management is the
process through which we stay
connected with our customers,
employees, shareholders, investors,
suppliers and the wider communities in
which we operate. We believe that the
approach of stakeholder engagement
is integral to the development of our
sustainability strategy, and is also a
pre-requisite for our long-term
sustainable growth.
VTech has an open door policy to
encourage suggestions or comments
given by our stakeholders through
various communication channels.
Since FY2014, we have developed a
formal annual stakeholder engagement
procedure, which helped us identify
which sustainability issues are most
important to our stakeholders and
report our sustainability approach,
performance and activities to
address their material concerns and
priorities. Our purpose is to engage
with those who are directly affected,
either economically, environmentally
or socially, by our operations and to
ensure that our sustainability strategies,
activities and reporting process would
meet and exceed their expectations.
The selection of stakeholder groups is
determined by the RMSC in conjunction
with the Sustainability Sub-Committees.
In FY2015, we have selected a number
of representative customers and
suppliers from the Company’s different
product lines, a range of employees
from all levels in the Company, our
major shareholders and investors,
and communities with whom we were
actively involved. As part of our annual
review process, we also engaged our
stakeholders through their preferred
communication channels to conduct
our materiality assessment surveys.
Our Sustainability Sub-Committees also
developed an approach which identified
the broad topics that the stakeholder
groups are concerned with, and used a
materiality matrix to assess the material
issues identified by our stakeholders
during the engagement process. An
issue is classified as ‘material’ when
it substantially affects our long term
commercial or operational viability,
with material impacts from economic,
environmental or social aspects. This
matrix combines VTech’s approach to
identifying and assessing the material
concerns of our stakeholders, and our
own materiality scoring methodology
by following the principles outlined in
GRI G4 Guidelines.
