Reporting – a platform for dialogue
This CSR and Sustainability Report represents an important platform for stakeholder dialogue. To identify and prioritize the issues we address in this report we maintain an ongoing dialogue with the functions responsible for CSR issues and for stakeholder relationships. The dialogue enables us to better understand external expectations on the Volvo Group and also ensures that our sustainability strategies are aligned with business objectives to reduce risk and capture business opportunities.
Issues in focus:
- Creating value
- Our roadmap towards sustainable transport solutions
- Our role as an employer
- Responsible sourcing.
One of the principles in our Code of Conduct states that “Volvo Group encourages an ongoing dialogue with stakeholders”. This exchange is best presented through some of our major commitments. Below are a few examples from our stakeholder map.
Products, services and solutions are developed in close cooperation with customers, for the purpose of helping them improve their own productivity and profitability.
We have long-term relationships with most of our customers. Customer satisfaction depends not only on the quality and performance of our products, but also on how customers are treated and how service is delivered.
Some examples of how we communicate with our customers include:
- Interaction in daily operations
- Dialogue forums such as customer focus groups in the product development phase
- Customer surveys that provide important feedback
- Dialogue via social media
- Customer satisfaction surveys
- Follow up on customer satisfaction and brand perception.
The Volvo Group follows up on the respective companies' and brands' customer satisfaction position and brand image perception in relevant industries and markets. Customer Satisfaction and Brand Image Tracking is measured by established industry surveys.
Employees and trade unions
The Volvo Group has formalized forums for employee dialogue and development, such as personal development plans. We believe that open dialogue contributes to personal development as well as more committed employees.
Volvo Group uses several channels for communication among employees such as:
- In-house magazines
- Team meetings
- Films and webcasts.
All employees can ask questions directly to the Group's CEO via the Intranet. For top-down communication we often practice cascading to employees through managers. Internally we communicate in many different languages. A survey among all employees, focusing on measuring employee commitment and satisfaction is normally conducted on an annual basis.
The Volvo Group maintains close relationships with a number of labor unions both in formal and informal forums.
The Volvo Group works closely with our suppliers. We value long-term relationships and the transfer of knowledge and understanding of each other's processes, procedures and values.
Forums for formal communication are:
- Our web-based supplier portal
- Training sessions
- Dedicated supplier days
We communicate regularly with shareholders, other investors and financial analysts.
The Investor Relations department holds regular meetings for investors and issues a number of publications:
- Annual reports
- Interim reports
- Press releases.
A capital market day is held at least once a year.
The Volvo Group communicates with politicians, authorities and institutions on an ongoing basis. This interaction includes responses to requests for comments on proposed legislation and activities. We also exchange information on the implications of legislation, incentives, etc., in order to support and enhance our business.
Most of the issues related to the regulation of our products is dealt with within industry organizations in which the Volvo Group is a member.
The Volvo Group has well-developed relations with NGOs. We have approximately 100 different cooperation projects with NGOs around the world.
Universities and research institutes
The Volvo Group sells technically sophisticated products and services. Cooperation with universities and academia is vital for creating synergies at the forefront of science.
We are involved in a comprehensive series of cooperative ventures with research bodies and academic institutions to advance the technologies needed for future product development. One example is the Volvo Group initiative Academic Partner Program.
Our involvement with universities is also important for creating relationships with students and potential employees and thus for securing access to future competence.
The Volvo Group supports secondary and upper secondary schools in many locations around the world. We hold a continual dialogue on educational issues at local, national and international levels.