Telefónica’s Stakeholder Engagement strategy is based on increasing transparency and effective dialogue in order to build relationships of trust.
This relationship allows us to identify what aspects are considered most relevant and what are the new trends in the field of sustainability. According to this, we set our goals, we define the strategic plan and also we assess our ability to meet society's expectations.
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As part of our digital transformation, we are increasingly using social media and we try to make the most of its advantages: the conversation can be immediate, continuous, without limits; the audience can be very large; and the possibilities to listen, learn and share, infinite.
At Telefónica, we have over online channels with the Telefónica, Movistar, O2 and Vivo brands (blog, Twitter, Youtube, LinkedIn, Instagram and Facebook, among others) to communicate with our different audiences.
When it comes to stakeholder engagement, employees play a crucial role in customer loyalty building, as levers of the cultural change and company ambassadors. So, we promote among them responsible use of social media channels, through recommendations, an online course and Telefónica’s Social Networks Policy.
And to encourage conversation among our professionals, all the global internal online communication channels are two-way, so they can express their opinions and assessments. In addition, we promote the use of an internal social network.
Dialogue, commitment and interaction between Telefónica and its interest groups
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In a company like ours that is focused on people, most of the dialogue with customers is performed at a local level.
With regard to business customers, we launched the “Voice of the Customer” (VoC) which gives us 360º vision, providing more efficient and effective responses and actions according to the needs of our customers.
Additionally, we have profiles in the different Social Networks -Facebook, YouTube, Twitter, Instagram and WhatsApp- channels in our applications and Artificial Intelligence to respond more interactively to their requirements.
Through the global Workplace network we maintain a fluid dialogue with our employees, regardless of geography and language.This channel completes the multiple dialogue initiatives at the local level.
At the local level we regularly celebrate forums where we share experiences and challenges.
At a global level, we have a conversation milestone that we observe with suppliers on an annual basis is the Global Workshop on Energy and Climate Change (its tenth edition being held in Seville, Spain).
The main communication channels are the Partner’s Portal or the Provider’s Portal. This is where all of our global policies, as well as specific local level requirements, can be found. We also have a confidential communications channel for questions and complaints related to compliance with our minimum Responsible Business criteria.
Shareholders and Analysts
In addition to regular and timely presentations published on this website, we participated in events and we held meetings with a representative number of ESG investors.
Governmental bodies and regulators
In addition to the different initiatives at local level, at a European level we actively participate in the events and forums organised in the European Union through our office in Brussels.
Furthermore, we have created the Public Policies Blog, which gathers and publishes debates and opinions about subjects related to the Internet and the digital economy.
We are also members of global sectoral organisations.
Opinion leaders, media and communication services
We are living in a society in which the power of dissemination of communication media and services is undeniable. That is why we have a press office, where we talk with them about the relevant topics.
The relationship with our stakeholders is the main basis that allows us to generate the Telefónica’s materiality matrix. They help us to identify the principle issues that we must respond, aligning our business sustainability.
The pandemic has been a true turning point. For this reason, we carried out a materiality update to identify these changes and measure their impact, analysing the expectations and perceptions of our different stakeholders in our main markets. At the same time, we tried to identify key ways to strengthen the recognition of our purpose.
Stakeholder Panel on Responsible Business
To carry out a 360º dialogue exercise and keep our materiality matrix updated, we have created a Responsible Business Advisory Panel and a broader advisory group. Both are integrated by experts in innovation, environment and social issues and are consulted on a regular basis.
This is also allowing our interest groups to interact with each other in a structured way, facilitating the monitoring of common challenges.
The Panel is chaired by an independent third party, which reports to the Sustainability and Quality Committee every six months
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Responsible Business Central Panel
Chaired by Marta Rey, from the University of A Coruña, the panel is composed of 11 organizations which conduct quarterly in-depth discussions on issues concerning the company.
Responsible Business Extended Panel
More than 100 .000 participants assess our performance and inform us of their expectations regarding the main issues.