How to manage stakeholders and maintain active engagement with the community?

Managing stakeholders is a recurring and extremely important task for companies in the current scenario, in which Private Social Investment (CSR) continues to grow in prominence in Brazil. The allocation of business assets to social projects grew from R$3.6 billion in 2019 to R$4.8 billion in 2023 – an increase of more than 30%. 

But, how to manage stakeholders and maintain active engagement with the community?We from INFLOR Blog, we will help you in this mission. Check out this content to learn more! 

Good reading.

How important is the Social Pillar for companies?

How important is the stakeholders management? 

Stakeholders management is fundamental to the success of the social project, supported and promoted by the company. Following the necessary conduct for this management, it is possible to control the risks involved in decision-making, as the needs and opinions of all interested parties will be considered. It also helps to ensure that the company has a complete view of the entire process and the steps of the proposed actions. 

Cost Of Inaction (COI) 

Given the importance of stakeholder management, it is worth mentioning the COI – Cost of Inaction – a concept that concerns the “cost of doing nothing”, that is, when management and processes remain stagnant, without updating and improvement. It is something that should be at the center of managers’ discussions since social management needs (and should!) be innovative. 

How to manage stakeholders? 

To cultivate good stakeholder management and ensure active and continuous engagement with the community, it is necessary to adopt certain behaviors. Below, we list the three main ones:

🟢 Structure an action plan for each group of stakeholders, with activities, objectives, and KPIs, to promote constant interactions and avoid sharing excessive information and relevant data; 

🟢 Hold periodic meetings to align expectations. It is strictly recommended that the social manager and each group of stakeholders are aligned regarding what is expected to be achieved from each action. In this way, you can avoid frustrations and disagreements;

🟢 Keep continuous monitoring of stakeholder satisfaction through surveys. In this way, it will be possible to recalculate the route, when necessary. With that, everyone can move towards the common goal in a satisfied, and engaged way. 

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INFLOR Sociall: optimize your social management! 

INFLOR Sociall is our social and stakeholder relationship management solution, which enables detailed monitoring of execution, and the financial and social impact generated. It also supports the analysis and definition of the feasibility of grants. Furthermore, the tool also helps the manager to: 

• Centralize the receipt of demands, own or from the surrounding community;

• Publish and manage public project selection notices;

• Receive complaints or impacts from the most diverse stakeholders in your ecosystem. 

With so many facilities, INFLOR Sociall contributes to strengthening proactivity in social relationships. Are you interested in knowing more? Talk to a specialist! 

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Find out how this tool can contribute to managing your relationships – inside and outside the corporate environment. It will be a pleasure to help you! 

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The importance of corporate social responsibility