Stakeholder engagement

Shareholder

Customer

Supplier

Employee

Community

Competent authority

Bank

Media

Industry

Academic

NPO

Identify Important Stakeholders

YOKE seeks to establish a communication and response mechanism on sustainability issues by maintaining our interaction with stakeholders. Through the five major aspects of “responsibility, influence, tension, dependency and multiple perspectives” of the AA1000 SES, we were able to identify our key stakeholders. Relevant functional managers at YOKE responsible for sustainability-related affairs were asked to assess and discuss the pool of stakeholders in order to establish the categories of key stakeholders.

The functional managers have verified and found no significant changes to YOKE’s categories of key stakeholders. In light of our exchange with sustainability specialists from the Taiwan Institute for Sustainable Energy, we have also included them as key stakeholders so that we would be able to understand their issues of concern with regards to the Company. After submitting the list of key stakeholder categories to the General Manager for approval, we verified six categories of key stakeholders in 2020: shareholders, customers, employees, suppliers, students/scholars and sustainability experts.

Engagement with key stakeholders

The establishment of various stakeholders carried different implications and interactions with YOKE’s operational activities and different departments have sought to engage stakeholders through various methods of communication. We had continued to communicate and discuss the modalities of stakeholder engagement in 2020 and produced various results.

Types of stakeholders	Shareholder Protector of safety
Implications to YOKE	YOKE commits financial, intellectual, manpower, manufacturing, social and environmental capital into establishing its distinctive safety awareness.
Accountable departments	Finance Department
Method/frequency of engagement	Shareholders’ meeting (annual) Board of directors meeting (quarterly) Strategic meetings (annual)
Results	Two shareholders’ meetings and four Board of Directors meetings were held in 2020, along with a strategic meeting held at the end of 2020 to verify our annual operating objectives for 2021.
Key issues for disclosure	Sound corporate governance and financial performance Fair and reasonable employers-employee relations Responsible product sale and safety commitments Effective use of energy/resource in production Safety and health in the work environment
Corresponding GRI topic	201 Economic performance (2016) 202 Market presence (2016) 205 Anti-corruption (2016) 302 Energy (2016) 401 Employers-employee Relations (2016) 403 Occupational health and safety (2018) 405 Diversity and equal opportunity (2016) 416 Customer health and safety (2016) 417 Marketing and labeling (2016)
Introspection and response	To establish links to environment, society, and corporate governance through the aspect of operational strategy to build a foundation and momentum for sustainable development. Instead of short-term profits, we will focus on our pursuit of long-term optimization regarding stakeholder interests.
Short-term plan	To further develop our PLM system and integrate it with the SAP ERP so that we can strengthen our product competitiveness and operational efficacy. Through industry-academia collaborations, we will enhance our R&D capacity and fortify our employees’ professional skills to create a more competitive operating environment and superior product advantages, which will empower us to overcome our existing market challenges and achieve growth in adversity.
Long-term strategy	To introduce Grade 120 high-strength alloy steel products and optimize the manufacturing process. By doing so, we will be able to reduce the weight of our products to make them more competitive. We will also improve the working environment and strengthen the supply chain to create a sustainable industry.

Types of stakeholders	Customer Promoter of safety
Implications to YOKE	Purchasing YOKE's products help promote safety awareness to industrial applications and individuals and to far corners of the world.
Accountable departments	Business Development Center
Method/frequency of engagement	Exhibition/video conference with customers Customer satisfaction survey (annual) Complaint handling (at any time)
Results	Due to the outbreak of COVID-19 in 2020, most of the exhibitions and shows were cancelled or postponed, and all plans for business trips were cancelled as well. N Sales Department cancelled all customer visits and took part only in the Shanghai Expo that took place in July 2020. Instead, the Center held frequent video conferences with customers to accelerate product development and boost productivity. Customer complaint settlement rate in 2020 came to 100%.
Key issues for disclosure	Sound corporate governance and financial performance Responsible product sale and safety commitments Integrity and commercial ethics Safety and health in the work environment Respect and assurance for employees' human rights
Corresponding GRI topic	201 Economic performance (2016) 202 Market presence (2016) 205 Anti-corruption (2016) 307 Compliance of environmental regulations (2016) 402 Labor/management relations (2016) 403 Occupational health and safety (2018) 406 Non-discrimination (2016) 416 Customer health and safety (2016) 417 Marketing and labeling (2016) 419 Compliance of social and economic regulations (2016)
Introspection and response	With a focus on user safety, YOKE will endeavor to create safety value for its products in all related environments, including R&D, purchasing, manufacturing and so forth. We are poised to deliver reliable and safe products with YOKE’s guarantee through the accreditation and verification of different management systems, factory management, and product certification.
Short-term plan	YOKE will maintain a high-standard quality management system to meet customers' production expectations. Meanwhile, the Company will obtain safety certification for applicable product categories as an added protection to end users. We will also build a workplace compliant with customer requirements and provide equal treatment and respect for our employees.
Long-term strategy	To integrate Salesforce and SAP ERP to promote operational digitization, which will help us better capture customer needs and market trends. We will also continue to improve upon our internal environment and promote various sustainable development measures to become a sustainable enterprise.

Types of stakeholders	Employee Enforcer of safety
Implications to YOKE	Through responsible R&D, manufacturing and supporting service, YOKE makes safety an inherent value of all its products.
Accountable departments	Human Resource Department
Method/frequency of engagement	Safe and health committee (quarterly) Labor-management conference (quarterly) Employee satisfaction survey (annual)
Results	We held four meetings for the Health and Safety Committee and Labor-management meetings in 2020. The overall employee satisfaction rate for local employees came to 3.47 (out of 5 points) and 3.46 for foreign employees.
Key issues for disclosure Corresponding GRI topic	Safety and health in the work environment Responsible product sale and safety commitments Respect and assurance for employees' human rights On-job learning and growth Fair and reasonable employers-employee relations
Corresponding GRI topic	401 Employers-employee Relations (2016) 402 Labor/management relations (2016) 403 Occupational health and safety (2018) 404 Training and education (2016) 405 Diversity and equal opportunity (2016) 406 Non-discrimination (2016) 416 Customer health and safety (2016) 417 Marketing and labeling (2016)
Introspection and response	Starting from competence management, we strive to recruit suitable talents while planning a comprehensive mentor system to help new employees acclimatize themselves to their work environment. In addition, YOKE invests in education and training to equip employees with the necessary professional skills and provides physiological and psychological care to enhance the workplace.
Short-term plan	We shall continue to implement our mentor system, promote our Experts Academy while implementing factory skill assessment; apart from giving equal treatment to employees, the introduction of our Employee Assistance Program (EAP) and by providing timely care for our employees, we seek to create a premium workplace that will motivate our employees to be passionate about their work.
Long-term strategy	In light of YOKE’s 2028 operational growth strategy, we will continue to improve upon our talent recruitment and compensation management, attract outstanding talents and foster positive labor relations through comprehensive talent development planning and execution whilst building a friendly and healthy workplace.

Types of stakeholders	Supplier Collaborator of safety
Implications to YOKE	Working with YOKE helps improve a business' product capabilities and brings value (in the form of added safety) to the overall industry.
Accountable departments	Procurement Dept
Method/frequency of engagement	Supplier Evaluation (annual) Supplier Audit (annual) Supplier Counseling (project)
Results	In 2020, YOKE evaluated 53 and audited 238 suppliers respectively, with a total of 19 suppliers participating in the delivery rate improvement project.
Key issues for disclosure	Integrity and commercial ethics Responsible product sale and safety commitments Traceability and localized purchase Sound corporate governance and financial performance Safety and health in the work environment
Corresponding GRI topic	201 Economic performance (2016) 204 Procurement practice (2016) 205 Anti-corruption (2016) 307 Compliance of environmental regulations (2016) 403 Occupational health and safety (2018) 416 Customer health and safety (2016) 417 Marketing and labeling (2016) 419 Compliance of social and economic regulations (2016)
Introspection and response	Working with our suppliers to jointly construct and shape the domestic industry for safety hooks has always been YOKE’s long-term goal for local commitment. And as such, we provide management and customized assistance mechanism for our suppliers in order to bolster their competitiveness in the market.
Short-term plan	To invite key material suppliers to participate in the developmental phase for new products so as to accelerate product development. In addition, we will provide online queries for long-term orders through production scheduling so that suppliers can estimate their quantity and delivery of shipments for relevant production arrangements to be made to improve the rate and accuracy of deliveries.
Long-term strategy	To expand the scope of depth of collaborative improvement with our strategic partners while establishing a supplier information platform to provide information in real time, which will facilitate supplier operation improvement, bolster their competitiveness, and promote overall growth for the industry.

Types of stakeholders	Scholars/students生 Promoter of safety
Implications to YOKE	Through industry-academia collaboration with different universities, we were able to bolster YOKE’s fundamental R&D while attracting outstanding talents to join the Company to create a win-win situation of operational growth and personal growth for individual employees.
Accountable departments	R&D Center
Method/frequency of engagement	Industry-academia collaboration (project) Scholarships (annual) Factory visit (reservation)
Results	In 2020, we implemented 8 industry-academia collaboration projects, with 4 students participating in our summer intern program. We awarded scholarships to 6 students and students from 5 schools visited our factory.
Key issues for disclosure	Integrity and commercial ethics Safety and health in the work environment Responsible product sale and safety commitments Respect and assurance for employees' human rights Fair and reasonable employers-employee relations
Corresponding GRI topic	205 Anti-corruption (2016) 307 Compliance of environmental regulations (2016) 401 Employers-employee Relations (2016) 402 Labor/management relations (2016) 403 Occupational health and safety (2018) 405 Diversity and equal opportunity (2016) 406 Non-discrimination (2016) 416 Customer health and safety (2016) 417 Marketing and labeling (2016) 419 Compliance of social and economic regulations (2016)
Introspection and response	Through industry-academia collaboration, we introduced scientific process improvement and work management to our operations to fuel YOKE’s momentum for innovation while identifying students who are predisposed to match our corporate culture so that we can provide opportunities for them to hone their talents at YOKE.
Short-term plan	Through our implementation of the internship program each year, we provide a field for students to reinforce the theories they have learned through practice and endeavor to review and improve upon the program over the years to refine it and eventually make it a benchmark for the industry. To further refine our Industry-academia collaboration mechanism so that we can continue to expand our R&D capacities.
Long-term strategy	To promote features of YOKE’s model of industry-academia collaboration so that we can achieve better results and offer values to the collaborating schools. Through our investment in pilot research projects, we create products that are at the forefront of the market and products that meet our customer demands to enhance YOKE’s competitive advantages.

Types of stakeholders	Sustainability specialists Companion of safety
Implications to YOKE	By offering their insight and knowledge on the trends of sustainability development, these specialists, partners and comrades are working alongside YOKE in our promotion of sustainable development. We hope to leverage their assistance through communication and exchange with these specialists.
Accountable departments	Human Resource Department
Method/frequency of engagement	Survey on sustainability issue (annual)
Results	We took part in the survey on our level of concern for sustainability issues for the first time in 2020, with a total of 11 specialists and partners from the field of sustainability involved in the survey.
Key issues for disclosure	Effective use of energy/resource in production Integrity and commercial ethics Safety and health in the work environment Management and conservation of water resources Waste processing and improvement
Corresponding GRI topic	205 Anti-corruption (2016) 302 Energy (2016) 303 Water and effluents (2018) 306 Effluent and waste (2016) 307 Compliance of environmental regulations (2016) 403 Occupational health and safety (2018) 419 Compliance of social and economic regulations (2016)
Introspection and response	Through the platform operated by Taiwan Institute for Sustainable Energy, we continue to communicate and exchange with other benchmark enterprises in the domain of ESG so that we can leverage their experience and know-how to propel our momentum for sustainable development in our operational planning.
Short-term plan	To initiate an exchange with sustainability specialists and exchange information, we will help YOKE employees gain better awareness of sustainable development and become mindful of the areas that we can improve upon.
Long-term strategy	Through exchanges at the company level, we will be interacting with benchmark enterprises in the area of sustainable development to facilitate our own growth towards becoming an outstanding enterprise in sustainability.