Shareholder
Customer
Supplier
Employee
Competent authority
Community
Bank
媒體
Industry
Academic
NPO
Identify Important Stakeholders
Our Sustainability Report Disclosure Team is responsible for creating questionnaires biennially to determine the materiality of our stakeholders. In 2018, YOKE asked all department managers to re-assess and evaluate major stakeholders in accordance with five aspects of “Responsibility, Influence, Tension, Diverse perspectives and Dependency” as described in the AA1000 SES (2015) standard. Input from these managers was discussed and verified during the Stakeholders Assessment Meeting. On top of the four categories of key stakeholders - shareholders, customers, employees and suppliers that have been identified in the survey, considering the close collaboration with scholars/students that YOKE has involved in the areas of technological development, academia-sector collaboration and summer internship program, we have thus decided to include scholar/students as a new category of key stakeholder as we hope to learn from academia’s insight on YOKE’s progress in sustainable development.
Engagement with key stakeholders
The various methods and channels that YOKE used to communicate with stakeholders in 2018, including a description of significant outcomes and responses are summarized as follows.
| Key stakeholders | Shareholder | ||
|---|---|---|---|
| Implication to YOKE | Protector of safety | ||
| YOKE commits to invest financial, intellectual, manpower, manufacturing, social and environmental capital to establish distinctive safety awareness. | |||
| Accountable departments | General Administration Division | ||
| Method/frequency of engagement and yearly results | Board of director meetings | Quarterly | 4 board of director meetings are held per year |
| Shareholder meetings | Yearly | We held our shareholders’ meeting in June 2018 and an extraordinary shareholders’ meeting in November | |
| Financial reports | Yearly | The 2017 financial report was audited in May | |
| Strategic meetings | Yearly | Established corporate level Key Management Index (KMI) | |
| Concerned sustainability issues | Sound corporate governance and financial performance, Effective use of energy/resource in production, Fair and reasonable employers-employee relations, On-job learning and growth, Responsible product sale and safety commitments | ||
| Corresponding GRI topic | Economic performance, Market presence, Anti-corruption, Employers-employee Relations, Occupational health and safety, Training and education, Diversity and equal opportunity Customer health and safety, Marketing and labeling | ||
| Introspection and response | Through establishment of long-term operational goals, we use balanced scorecard to derive the specific objectives for finance, customers, internal processes and operational growth to link the development plans and procedures for each functional department. | ||
| Short-term plan | We established our R&D Center for the development of Grade 120 high-strength alloy steel and expanded our production capacities. | ||
| Long-term strategy | In addition to introducing Grade 120 high-strength alloy steel products into our portfolio, we have also carried out studies of optimizing alloy steel thermal treatment processes, models/standards for alloy steel inspection, and built inspection database so that YOKE can increase our industrial product market share. | ||
| Key stakeholders | Customer | ||
|---|---|---|---|
| Implication to YOKE | Promoter of safety | ||
| Purchasing YOKE's products helps promote safety awareness to industrial applications and among individuals, and to worldwide. | |||
| Accountable departments | Business Development Center | ||
| Method/frequency of engagement and yearly results | Product exhibition | Several times a year | The Company participated in 28 commercial exhibitions during the year |
| Customer visits | Yearly | The Company visited customers of 8-series products 268 times and customers of N-series products 84 times in 2018 | |
| Customer satisfaction survey | Yearly | New customers were 95% satisfied with 8 products, Existing customers were 100% satisfied with 8 products New customers were 97% satisfied with N products, Existing customers were 96% satisfied with N products | |
| Complaint handling | Yearly | The number of customer complaints had reduced by 13 compared to 2017 | |
| Concerned sustainability issues | Integrity and commercial ethics, Safety and health in the work environment, Responsible product sale and safety commitments, Sound corporate governance and financial performance, Fair and reasonable employers-employee relations | ||
| Corresponding GRI topic | Economic performance, Market presence, Anti-corruption, Compliance of environmental regulations, Employers-employee Relations, Occupational health and safety, Diversity and equal opportunity, Customer health and safety, Marketing and labeling Compliance of social and economic regulations | ||
| Introspection and response | YOKE brings safety value to customers by pursuing certification in product R&D, enforcing safety and health in the production environment, and ensuring consistent quality and material supply. | ||
| Short-term plan | YOKE maintains a high-standard quality management system to meet customers' production expectations. Meanwhile, the Company obtains safety certification for applicable product categories as added protection to end-users. In addition, through our SMART RFID project, we developed software for inspection that is designed for equipment management and provides maintenance remind, thereby adding the value of our customer service. | ||
| Long-term strategy | We integrated internal and external resources to develop our production automation. This is achieved through the integration of SAP ERP and various information systems, such as Salesforce, PLM, MES and so forth. With transparent information, we can make accurate forecasts of customer demands. By consolidated product development, procurement demands, and production scheduling, we work closely with our suppliers to provide superior services to our customers with better quality and stable delivery. | ||
| Key stakeholders | Employee | ||
|---|---|---|---|
| Implication to YOKE | Enforcer of safety | ||
| 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 and yearly results | Internal announcements | Unscheduled | 93 announcements were made during the year |
| Employee safety and health committee | Quarterly | 4 meetings are held each year | |
| Employee satisfaction survey | Yearly | 318 questionnaires were issued and 293 were received. Overall satisfaction was 3.75 (out of a full score of 5) |
|
| Internal grievance mechanism | Any time | 3 cases of complaints were closed in 2018 | |
| New recruits conference | Once every two months | 14 proposals were raised, which received 100% response rate | |
| Concerned sustainability issues | Respect and assurance for employees' human rights, Safety and health in the work environment, On-job learning and growth, Responsible product sale and safety commitments, Integrity and commercial ethics | ||
| Corresponding GRI topic | Economic performance, Anti-corruption, Labor/management relations, Occupational health and safety, Training and education, Non-discrimination, Customer health and safety, Marketing and labeling, Compliance of social and economic regulations | ||
| Introspection and response | From the perspective of professional competence management, we recruit talents and provide effective training to improve their professional skills. And by taking care of employees, we strive to make YOKE a friendly workplace for all. | ||
| Short-term plan | We have continued to run “Experts Academy” as the training system along with skill tests to determine the effectiveness of training. The Company has also improved the mentorship program to help new employees acclimatize themselves to jobs and the working environment. | ||
| Long-term strategy | We have adopted the systems for talent development quality management and occupational safety management as our internal standards for talent management and building a friendly and healthy workplace at the Company. YOKE strives to maintain sound labor relations and encourages employees to contribute to sustainable development on an operational, environmental and social aspects. | ||
| Key stakeholders | Supplier/contractor | ||
|---|---|---|---|
| Implication to YOKE | Collaborator of safety | ||
| Working with YOKE helps productivity improvement and brings value, in terms of safety, to the overall industry. | |||
| Accountable departments | Procurement Department | ||
| Method/frequency of engagement and yearly results | Supplier conferences | Yearly | A total of 67 vendors had participated in the conference held in August 2017 |
| Supplier Evaluation | Every 3 years | Completed assessments on 14 companies | |
| Supplier audit | Yearly | Audits were completed on 233 companies during the year | |
| Concerned sustainability issues | Responsible product sale and safety commitments, Integrity and commercial ethics, Respect and assurance for employees' human rights, Waste processing and improvement, Traceability and localized purchase | ||
| Corresponding GRI topic | Economic performance, Anti-corruption, Procurement practice, Compliance of environmental regulations, Effluent and waste, Labor/management relations, Non-discrimination, Customer health and safety, Marketing and labeling, Compliance of social and economic regulations | ||
| Introspection and response | We have a long-term partnership with our suppliers in new product development and mass production that provide quality products and on-time delivery to meet our customers’ needs. | ||
| Short-term plan | In order to accelerate product development, we have invited key material suppliers to participate in the new product development process; through long-term forecast based on the production schedule, we can adjust material procurement quantity and lead time to align with monthly demand. This allows our suppliers to make corresponding arrangements in their production schedule to ensure on-time delivery. | ||
| Long-term strategy | For suppliers’ QC personnel, we also provide specific training on incoming material inspection standards and implement on-site audits to verify their inspection methodology. We have calibrated suppliers' material production fixtures, tooling, and material inspection standard procedures to improve the material yield rate and delivery. This will, in turn, allow YOKE to lower its production costs and reduce waste. | ||
| Key stakeholders | Scholars/students | ||
|---|---|---|---|
| Implication to YOKE | Collaborator of safety | ||
| Through the cooperation with the collaboration between industry and university, YOKE empower the research and development; attract outstanding talents to join YOKE, and pursue a win-win situation between operational growth and personal growth. | |||
| Accountable departments | Human Resource Department | ||
| Method/frequency of engagement and yearly results | Industry-academia collaboration | Yearly | 9 industry-academia collaborations in 2018 |
| Internship Program | Summer vacation | A total of 13 interns completed their presentation | |
| Visit at our factory | Unscheduled | We received a total of 318 visitors from various schools in 2018 | |
| Concerned sustainability issues | Safety and health in the work environment, Fair and reasonable employers-employee relations Integrity and commercial ethics, Effective use of energy/resource in production, On-job learning and growt | ||
| Corresponding GRI topic | Economic performance, Market presence, Anti-corruption, Energy, Compliance of environmental regulations, Employers-employee Relations, Occupational healath and safety, Diversity and equal opportunity, Training and education, Compliance of social and economic regulations | ||
| Introspection and response | Through industry-academia collaboration, we identified talented students to work and learn in YOKE by scientific process improvement and work management. | ||
| Short-term plan | Through the internship program every year, we not only provide a stage for students to practice the theories they have learned but also endeavor to review and improve the program over the years to refine it and eventually make it a benchmark in the industry. We established the R&D Center to bridge the industry-academia collaboration. | ||
| Long-term strategy | The R&D Center serves as a bridge connects the Company and academia. For new technologies that emerge from specific market trends, we would launch pilot study programs based on our schedules of product development and promotion so that we can stay ahead of the market and provide up-to-date products. | ||
