Seeking Stakeholder Feedback: The Key to Successful Sustainability Transformational Change
Before embarking on any drastic sustainability transformation, one critical step is often overlooked: engaging stakeholders and seeking their feedback. Without this, even the most well-intentioned initiatives can fail to gain traction or result in unintended consequences.
Why is feedback so crucial?
According to a study by Deloitte, 79% of companies that engaged stakeholders early in their sustainability strategies reported smoother implementation and better alignment with business goals . This is because stakeholders—employees, customers, suppliers, and communities—offer diverse perspectives that can highlight potential risks and opportunities before a plan is executed.
The cost of not seeking feedback:
a study conducted in the UK found that only 41% of businesses consult stakeholders adequately before implementing sustainability initiatives . The result? 70% of these companies faced pushback or delays due to unforeseen operational challenges . Imagine the cost of rolling back changes after millions have already been invested!
Global sustainability leaders like Unilever credit stakeholder feedback for the success of their Sustainable Living Plan. By involving over 300,000 stakeholders annually, Unilever has increased the plan’s impact by double-digit percentages year-over-year .
Drastic sustainability changes should not be imposed in a vacuum. Engage stakeholders early to gather feedback, reduce risks, and ensure long-term success.
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