Stakeholder engagement
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. |