Stakeholder Engagement Grows in Importance Due to the Convergence of Technology, Social Awareness and Generational Shifts

Boréalis helps companies adapt with the Summer Release of its Stakeholder Engagement Platform including Stakeholder Engagement Planning beta and other innovations

July 2018, Magog, Quebec: Boréalis, the leader provider of stakeholder engagement software, today announced the Summer Release of its Stakeholder Engagement Platform, including Stakeholder Engagement Planning beta. The new functionality ties engagement strategy to execution, helping companies consistently engage with stakeholders, globally. The Boréalis Summer Release also includes important enhancements to its Stakeholder Assessment capabilities to help organizations systematically understand who are their most influential stakeholders. Stakeholder Engagement Planning and Assessment from Boréalis reduce complexity, streamline engagement workflow and processes, and help organizations develop and manage complex relationships at scale.

According to Boréalis CEO Patrick Grégoire: “In the past 9 months, we’ve seen an incredible increase in stakeholder engagement interest and new customers in new industries – beyond the traditional mining, oil, and energy sectors – showing an increased focus on sustainability, public affairs and community engagement. Automating stakeholder engagement planning, tasks and assessments helps community relations professionals build trust and dialogue with their most influential stakeholders—at scale—faster and more effectively.”

Traditional industries also continue to innovate with stakeholder engagement. Maureen Song is Head of HSE OPS Readiness & Assurance with PETRONAS (http://www.petronas.com), Malaysia’s fully integrated oil and gas multinational which is ranked among the largest corporations on FORTUNE’s Global 500®. Ms. Song was instrumental in Boréalis’ development of the new Engagement Planning functionality, and will be a beta user. “We’re looking forward to tying together our engagement planning with execution,” she said. “Engagement frequency, based on the Boréalis stakeholder assessment, is key to our stakeholder strategy as we work to balance the economic, environmental and social needs of our stakeholders.”

Organizations must consistently engage in growing numbers of complex, interconnected relationships which may have significant influence on their reputation, operations and sustainability. Several recent reports point to growing stakeholder expectations and power:

  • Changing corporate mandates: The Edelman Trust Barometer 2018 shows that building trust (69 %) is now the No. 1 job for CEOs; faith in experts now exceeds faith in peers; and business is now expected to be an agent of change.
  • Lower levels of trust: The Deloitte Millennial Survey 2018 shows that only a minority of Millennials believe businesses behave ethically.
  • Millennials will change everything: “…the entire edifice of corporate governance constructed on the idea of only maximizing shareholder value will come crashing down and a new foundation for American corporations, built on trust and the values and beliefs of Millennials will arise in its place.” (How Millennials Could Upend Wall Street and Corporate America, Brookings)
  • Consumers buy with social awareness: “Nearly two-thirds of consumers across six international markets believe they “have a responsibility to purchase products that are good for the environment and society, ” according to Harvard Business Review, The Comprehensive Business Case for Sustainability.
  • Investors favor social responsibility: The US Forum for Sustainable and Responsible Investment (SRI) estimates that more than a fifth ($8.7trn) of the funds under professional management in America is screened on SRI criteria.
  • Everyone, everywhere, has a voice: Global internet access statistics from the Pew Research Center show that the Millennial generation is nearing 100% internet access in many of the world’s largest economies.  In 2016, an estimated 62.9% of the population worldwide already owned a mobile phone, according to Statista.

Boréalis Summer Release innovations enable personalized engagement at scale, with varied stakeholder groups:

1. Link strategy to execution: Stakeholder Engagement Planning

With the beta launch of Stakeholder Engagement Planning, Boréalis provides the critical missing link between strategy and execution. Currently in testing with clients and expected to be generally available in by December 2018, Stakeholder Engagement Planning links tasks with strategies, helping stakeholder professionals define objectives, key messages, target engagement frequency and more, plus follow progress over time.

2. Understand who matters most: Automated Stakeholder Assessment

Boréalis helps organizations assess the most influential stakeholders with unlimited parameters that are configurable by organization and stakeholder group. Boréalis customers can now assess both organizations and individuals, share certain parameters and rankings among them and understand influence over time and for every new stakeholder.

3. Streamline engagement work with tasks and actions in a single, intuitive interface

Stakeholder engagement professionals can now see their strategy and associated tasks, plus take action, all in the same intuitive interface. Enhanced tasks reminders, automated duplicate management, multilingual Smart Communications and automated data appending further streamline workflows.

4. Report accomplishments over time with simple and effective metrics

With Boréalis, all stakeholder and engagement data is securely centralized, enabling easy reporting, including for compliance. With the new Stakeholder Engagement Planning, accomplishments are quickly measured and easily shared.

About Boréalis

Boréalis helps organizations build enduring and trusted relationships among their most important stakeholder groups. Boréalis field-proven stakeholder engagement applications reduce risk and increase positive outcomes based on shared value creation. International and local corporations across a wide variety of industries (mining, oil & gas, utilities, transport, renewables, food production, retail, etc.) trust Boréalis to help them to manage and support their most important stakeholder engagement programs.  Learn more on Boreal-is.com, subscribe to our newsletter, and follow us on our blog and LinkedIn.

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