Stakeholder engagement

Identify Important Stakeholders

We maintain constant interaction with stakeholders to build a communication and response mechanism on sustainability issues. We also identify stakeholders through the five attributes of stakeholders : responsibility, influence, tension, dependency, and diverse perspectives of AA1000 SES. After the departmental assessment and discussion a few years ago, we determined the key stakeholder groups.

After the further discussion of the importance of stakeholders at the 2022 SDC meeting, we discovered that our interaction with “scholars/students” had reduced in the last two years following the acquisition of important outcomes and reduction of the scope of industry-academia collaboration. Hence, they were excluded from the stakeholder groups in 2022. Eventually, we finalized the following four stakeholder groups: shareholders, customers, employees, and suppliers.

Engagement with key stakeholders

Each identified stakeholder group had different significance in and interactions with our operational activities. Additionally, different departments engaged with stakeholders through various methods of communication. In 2022 we continued with various methods of communication and engagement and output various results.
In consideration of the significance to YOKE of individual stakeholder groups, the sustainability issues that concern them, and their expectations, by combining the idea of sustainable impact assessment, we included their opinions in managing each sustainability issue to get twice the result with half the effort so as to maximize the power of sustainability through collaboration with stakeholders.

Types of stakeholders	Shareholders Guardian of safety value
Implications to YOKE	YOKE commits financial, intellectual, manpower, manufacturing, social and environmental capital into establishing its distinctive safety awareness.
Accountable departments	Finance Dept
Method/frequency of engagement	Shareholders’ meeting (annual) Board of directors meeting (quarterly) Strategy meetings (annual)
Results	Two meetings of shareholders and seven Board meetings were held in 2022, and one strategy meeting was held at the end of the year to verify the annual operating objectives for 2023.
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	Continue to optimize and systematize R&D management, accelerate R&D and enhance competitiveness, and continue industry-academia collaboration to help upgrade technical competency to build a more competitive operational environment and product advantages and so break through market adversities and grow against the tie.
Long-term strategy	We will continue to promote the market demand for Grade 120 high strength alloy steel products and optimize the manufacturing process through industry-academia cooperation and smart manufacturing, so as to reduce the use of materials and consumption of YOKE products and move towards sustainable manufacturing.

Types of stakeholders	Customers Promoter of safety value
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	Trade fair participations: 8 Sales Dept 22 times and N Sales Dept one time. Maintained intensive communication with customers through videoconferencing, accelerated product development schedule, and effectively enhanced work efficiency. The 2022 customer complaint closure rate was 100%.
Introspection and response	With a focus on user safety, we create safety value for products through R&D, procurement, and manufacturing and enforce the management of sustainability issues and validation of product standards to provide customers with trustworthy safety products and corporate commitment.
Short-term plan	Continuously maintain a high-standard quality management system to meet the customer’s product expectation; complete the tests for product accreditation of the UKCA standards established by the UKAS after Brexit to meet the product shipping requirements and so to protect the life safety of end-users.
Long-term strategy	We will continue to optimize the marketing power of Salesforce and SAP ERP to grasp customer needs and market trends; we will continue to improve our internal environment and promote various measures for sustainable development to create a sustainable enterprise and build a sustainable brand image in the hook industry.

Types of stakeholders	Employees Enforcer of safety value
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	In 2022, four Safety and Health Committee meetings and four labor-management meetings were held. The overall satisfaction rating of Taiwanese employees was 3.58 out of 5.。
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	Suppliers Collaborator of safety value
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 Department
Method/frequency of engagement	Supplier Evaluation (annual) Supplier Audit (annual) Supplier Counseling (project)
Results	In 2022, we evaluated 21 suppliers and audited 238 suppliers.
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.