| STAKEHOLDER ENGAGEMENT
• INTRODUCTION
Transredes S.A. has identified seven groups of stakeholders, which are constantly monitored and cared of through different programs of stakeholder engagement. To understand the needs and expectations of our stakeholders is part of our corporate objectives and our values as a company.
Please follow the links below to know more about the characteristics of our different stakeholders and the commitment that we have assumed.
• CONSULTATION PROGRAMS
Transredes S.A. manages four main programs of stakeholder engagement and consultation, beyond those considered as part of our corporate governance : Reputation Scorecard, Labour Satisfaction Survey, Customer Satisfaction Survey and Engagement Programs with Neighboring Communities.
REPUTATION SCORECARD
The management of our Reputation Scorecard is one of the most important stakeholder engagement programs of Transredes S.A. The results of the scorecard are updated annually, being fundamental for the targeting of corporate objectives. Results are publicly reported trough our web page ( Indicators ).
The methodology that supports our Reputation Scorecard was developed by the Reputation Institute ( www.reputationinstitute.com ) and is frequently used as a reference for several companies worldwide, including investment bankers and strategists. The surveys are performed by a third specialized party, which guarantees the neutrality of the results.
The stakeholders considered for the calculation of the reputation scorecard are Institutional Leaders, Public Opinion, Customers and Employees. The areas considered are Financial Performance, Products and Services, Vision and Leadership, Workplace Environment, Emotional Appeal and Social Responsibility.
LABOUR SATISFACTION SURVEY
The Labour Satisfaction Survey is specific to the evaluation of labour environment at Transredes S.A. The survey is updated annually and is used as a basis of evaluation and as a management tool for the Human Resources Department, since it includes an evaluation of the performance of the different areas and not just of the company as a whole. The survey is applied anonymously to all the personnel at Transredes S.A.
Our Human Resources Department adapted the survey. Since 1999, it is performed by a specialized third party, guaranteeing the neutrality of the results. The results of the survey are presented to the different areas and to their managers. If the areas request so, the Human Resources department helps them to devise an action plan for improvement with the support of focal groups.
CUSTOMER SATISFACTION SURVEY
An independent and specialized tirad party updates the Customer Satisfaction Survey annually. The survey has a section of “closed” questions that allows measuring the service performance of the company and, starting 2004, questions and “open” suggestions requests that are an integral part of the evaluation of results. Both are considered an important input for improvement.
Among others, the main areas of analysis consider the quality and effectiveness of the communication flows, response times and the effectiveness of the transportation service.
ENGAGEMENT PROGRAMS
WITH NEIGHBORING COMMUNITIES
The social management of our neighboring communities is structured based on our philosophy of being good neighbors and has been captured trough programs of communication and engagement, among them the following: safety education and general information programs, management of requests and complaints, support to local development initiatives and social management of expansion, construction and maintenance projects. All these programs are performed in close coordination with local stakeholders, in order to promote the sustainability of our common initiatives.
For more information about the performance and the programs that are part of the social management at Transredes S.A. , please visit our web page at Social Management or at Performance Indicators on Preservation of Human Life and the Environment.
Our philosophy of social management by being good neighbors is inspired on several concepts:
- Reciprocity, as mutual cooperation
- Mutual respect to rights and custom
- Clear communication, when speaking and listening
- Coherence and consequence in our acts
- Foresight, in anticipating or preventing problems
- Mutual work and coordination with other local organizations and institutions.
For more information about our programs on stakeholder engagement, please contact our External Relationship Department following the link below:
Contact Transredes
• SURVEY RESULTS
The surveys and the calculation of the reputation quotient are useful to evaluate changes in the perception of our stakeholders in a consistent way, and thus we consider them an important tool of stakeholder engagement management. However, their “closed” questions and answers do not allow for a broader interpretation of the requirements of our stakeholders.
During 2005, Transredes S.A. decided to launch focal groups and selected interviews, to better listen to our stakeholders in order to support the process of sustainable reporting improvement and our management in general. A third specialized party, without the direct participation of the company, organized the process in order to guarantee the neutrality of the results of the consultation.
The results highlighted the following information requirements on Transredes S.A. and the hydrocarbon sector in general:
- Transparency and access to information regarding our operations and our performance in general.
- Contribution to sustainable development in Bolivia , our commitment and our specific actions to support the development of the country.
- Contribution to quality employment creation, at local and national levels.
- Breakdown of the workforce, particularly with respect to national and foreign employees working at Transredes S.A.
We believe that the GRI guidelines offers a good framework to respond to the requirements of our stakeholders and establishes basic principles of engagement, together with performance indicators, that agree with their information expectations. Transparency, clarity, accuracy and auditability are part of the basic principles of the guidelines and we believe that they offer a good opportunity to improve trust bonds with our stakeholders.
Tax payments, social investment, employment creation, capacitation and breakdown of the workforce are among the core performance indicators of GRI. We have decided to complement that information with statistics about our investments in Bolivia and other indicators that we hope might be relevant to our stakeholders.
We expect that our web publication, along with other initiatives, might improve the timely, low cost and universal access to our performance information . For more information about our programs on stakeholder engagement, please contact our External Relationship Department following the link below:
Contact Transredes
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