Stakeholder engagement
Engagement with stakeholders at all levels is a critical part of our business strategy. Hyprop is cognisant of our stakeholders' interests, concerns and expectations, and actively seeks to engage with them, realising that our long-term sustainability is dependent on creating sustainable value through our business. We engage stakeholders via various channels to determine their needs and respond appropriately.
Stakeholder engagement has a positive impact on Hyprop in terms of reputation management, and at the same time informs our business strategy, including risk assessment.
The board and executive team monitor and ensure that all communication to stakeholders is transparent, true and complies with the JSE Listings Requirements, where relevant. Management's goal is to ensure that stakeholders have relevant information to accurately assess our performance and prospects. The board considers the legitimate interests and expectations of stakeholders in its decision-making.
Approach
- The company's reputation hinges on its relationship with its stakeholders. The process for identifying and considering the legitimate interests and expectations of stakeholders is reviewed at least once a year by the board
- The board oversees the establishment of mechanisms and processes that support stakeholders as appropriate, in constructively engaging with the company
- Stakeholders who could materially affect Hyprop's operations are identified, assessed and engaged with as part of the risk management process
- The board has adopted guidelines that support a responsible communication programme
- Complete, timely, relevant, accurate, honest and accessible information is provided to stakeholders, as appropriate, while considering legal and strategic issues.
Key aims
- Ensure the safety and security of shoppers, tenants and employees, as far as possible. Operationally, this is the responsibility of each centre's management team and service providers
- Engage with analysts, tenants, financiers, regulators and local communities on risks and possible mitigation
- Engage with local communities for improvement and upliftment and to enhance corporate social investment
- Steady improvement in broad-based black economic empowerment (BBBEE) and employment equity
- Garner effective stakeholder feedback to inform and direct Hyprop's business and growth strategy.
Dispute resolution
Disputes with stakeholders are addressed in the appropriate forum and steps are taken to ensure that any disputes are resolved effectively, efficiently and expeditiously. Where applicable, alternative dispute resolution clauses are included in all service contracts and Hyprop complies with all such requirements.
| CREATING VALUE FOR OUR KEY STAKEHOLDERS IN 2018 |  |
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