Stakeholder engagement
Sonova is dedicated to actively engaging with its stakeholders. We foster an open and meaningful dialogue, recognizing their essential role in creating shared value and driving sustainable growth.
Continuous engagement with stakeholders allows us to better understand their needs and expectations concerning our business activities, products and services, as well as sustainability initiatives and projects. Stakeholder engagement is vital for Sonovaʼs long-term performance and regular interactions provide us with meaningful insights. We review the outcomes of stakeholder engagements and incorporate them into our operational and strategic decisions. Additionally, insights from our engagements are considered when reviewing and amending related policies. Our Management Board and Board of Directors receive updates on key stakeholder engagements, including on sustainability impacts. In certain cases, depending on the nature of the engagement, the Board of Directors directly interacts with stakeholders.
The list below provides an overview of our key stakeholders and engagement methods. Additional important stakeholders include media, competitors, community representatives and NGOs.
Key stakeholders | Engagement methods | Engagement purpose | Engagement outcomes | |||
|---|---|---|---|---|---|---|
Employees | • Annual and regular engagement surveys • Performance appraisal and development planning • Cross-functional team workshops (e.g., Kaizens) • Town halls and intranet • Employee resource group exchanges • Dialogue with employees' representatives and unions | • Gather feedback on workplace and employee experiences • Raise performance expectations and evolve employee skills/careers • Continuous improvement input and facilitate collaboration • Connect to business context and engage in an open dialogue • Support fair labor practices | • Improve workplace and update talent management practices • Better business outcomes and improved talent retention and succession • Improved processes and better understanding of Sonova's operating model • Transparent communications and better alignment to Sonova strategy and priorities • Compliance with local labor law and regulations | |||
Consumers | • Direct consumer support via several channels (e.g., phone, in-store and sales representatives, apps and online) • Satisfaction surveys • Community interactions such as HearingLikeMe.com, HearingJourney™ and Sennheiser Explorers community • Mentorship programs with cochlear implant mentors | • Gather feedback and address inquiries or issues • Improve consumer satisfaction and product and service experiences • Provide supportive communities and inspire consumers | • Improve product and service quality • Influence product design and feature • Identify trends and leverage data for new products and services • Earn, retain and extend consumer loyalty | |||
Customers and insurers | • Satisfaction surveys • Product and service training programs • Customer support via several channels (e.g., phone, sales representatives, apps and online) • Customer loyalty programs • Advisory board initiatives • Engagement with governmental and social institutions including participating in tender processes | • Improve customer satisfaction • Equip and train customers • Gather feedback and address inquiries or issues • Support product development across various domains • Ensure accessibility of products and services | • Improve product and service quality • Influence product design and features • Improve product and service training resources • Improve accessibility approaches | |||
Suppliers | • Sustainability assessments • Engagement and training sessions • Knowledge sharing • Onsite audits and site visits | • Evaluate sustainability performance • Address improvement areas • Improve product quality • Build ESG capability | • Track ESG improvements, and corrective and risk mitigation action plans • Enhance supplier engagement and sustainability performance • Improve product quality • Improve feedback mechanisms | |||
Shareholders and financial communities | • Semi-annual and annual report publication, and Annual General Shareholders’ Meeting • Roadshows, conferences and investor meetings • ESG rating participation | • Foster transparent publication • Engage with existing and potential investors • Communicate ESG strategy and performance | • Improve transparency and reporting • Answer questions • Identify ESG trends and priorities | |||
Academia and opinion leaders | • Participation and collaboration in research projects and scientific publications • Internships and thesis project opportunities for students • Serving on academic advisory boards | • Support academic growth and research • Advance scientific knowledge and clinical best practice • Scientific standards for performance measurement • Contribute to, and engage with the scientific community | • Integrate outcomes into product and service strategies • Build long-term partnerships • Assure valid evidence for solution performance • Apply findings to clinical practice and product development • Support skills development | |||
Regulators | • Compliance reporting and documentation • Sharing specialist knowledge in industry working groups and committees | • Ensure compliance with regulatory requirements • Safeguard product safety and effectiveness • Support regulators to ensure high quality standards for the products | • Ensure alignment with regulatory standards • Improvements based on feedback • Improve internal processes and influence policy |
In addition, Sonovaʼs SpeakUp platform allows stakeholders who know of or suspect a violation of applicable laws, regulations, the Code of Conduct or internal policies and procedures, to report it. Detailed information on SpeakUp policy and procedures is available in the Business ethics chapter of this report. In our double materiality assessment, we also comprehensively analyze stakeholder perspectives.