Stakeholder relations

Wärtsilä’s aim is to engage in open and constructive dialogue with its various stakeholders. Wärtsilä actively maintains relations with its stakeholders and develops its activities, products and services based on the feedback received from them. At the corporate level the company has defined its most important stakeholders to be its customers, owners, suppliers, employees and society. Wärtsilä’s subsidiaries define their own primary stakeholders which, in addition to the above, include local residents close to production plants, as well as educational institutes and public authorities. Priorities vary from one company to another. Wärtsilä continuously enhances its reporting performance both on its own initiative and in response to feedback from its stakeholders.

Channels of dialogue and assessments of stakeholder relations

Stakeholder Channels of dialogue Assessments
Customers Regular contact with customers, lifecycle support for products, customer events and seminars, customer magazines, the internet, conferences and exhibitions, product documentation, customer feedback system, customer relationship on-line (CROL ®) System for measuring customer satisfaction and quality
Employees Open and continuous communication between management and employees, annual development discussions, information meetings and internal communication (intranet), employee magazines, training events, national statutory employee bodies and European Works Council, occupational health and safety committees, suggestion system, continuous improvement process (CIP), Technology and Innovation Award, Customer Care Award Employee satisfaction surveys (My Voice)
Owners, investors Management meetings with investors, financiers and analysts, stakeholder magazines, general meetings, information meetings, stock exchange and press releases, annual and interim reports, capital markets days, the internet, investor relations surveys, sustainability questionnaires Investor relations surveys, sustainability surveys and indices
Suppliers Open and active dialogue between the sourcing organisation and suppliers, supplier portal, supplier development, supplier management system, Supplier Days, Supplier of the Year Award Supplier assessments
Society Reporting to, and co-operation with, public officials on issues such as the environment and occupational health & safety, Open Doors days, sustainability report, corporate presentations, local communications, the internet Stakeholder feedback, corporate image surveys
Organisations Membership, regular contact, participation in activities of local trade and industrial organisations, active role in working groups, contact with various public bodies, e.g. through ministries, reports
Universities Opportunities for practical training and degrees, R&D projects, participation in recruitment fairs and seminars, sponsorship of student activities Preferred employer surveys
The media National and international business media and journals, trade publications, interviews and press releases, main annual publications, meetings, visits, factory tours Surveys conducted among business journalists, media surveys, reporting comparisons

© 2018 Wärtsilä