A stakeholder is any interest group, organisation or individual who has a direct or indirect interest in your organisation and its activities. These may include governments, regulators, activists, local communities and the media.
By using their influence, stakeholders can hold the key to the environment your business operates in, your profitability and long term performance. That’s why effective interaction with these stakeholders can be crucial to resolving issues that may affect your organisation and its ability operate.
The aim of stakeholder relations management is to influence stakeholder attitudes, decisions, and actions for mutual benefit. The stakeholders need to gain from the relationship or they may not be sufficiently motivated to cooperate.
GSG Counsel has the experience and the tools to build a realistic stakeholder relations programme to measurably establish and maintain your ongoing relationships.
We will work with you to:
- Conduct stakeholder mapping and analysis
- Help you and your stakeholders leverage mutual interests
- Generate support for your position before regulators, government agencies and in the community
- Assist your key staff on how to more effectively incorporate stakeholders into ongoing operations or special campaigns
- Use your stakeholders as early warning system for emerging industry/marketplace changes
- Broaden your communications reach by contributing to the communications vehicles of stakeholders
- Prepare stakeholders on how to help in case of an emergency
Case study: Balancing stakeholder interests during closure of Caltex refinery
Caltex Australia (ASX: CTX) appointed GSG Counsel to lead the stakeholder engagement stream for its Kurnell refinery review. The review decided to close the refinery, with the loss of 600 jobs.
Embedded within the Caltex project team over 6 months, GSG Counsel coordinated internal resources for the development of key messaging and strategies for stakeholder groups including staff, investors, state, local and federal governments, media and general public.
In parallel with the Refinery Review project, GSG also developed the repositioning framework for Caltex after the announcement.