7 Benefits of Stakeholder Engagement

7 Benefits of Stakeholder Engagement

by Sophie Taysom Comment Closed
How many times have you developed a stakeholder map for it to end up lost? You resurrect it when trouble hits or you’re required to demonstrate that you’ve ‘done’ stakeholder engagement. So what are some of the benefits of stakeholder engagement? Business is about relationships – whether you’re start-up or a large business, government, or an NGO. The success or failure of any policy or product starts and ends with stakeholders. Failure to engage can cost time, money and reputation, and lead to a great idea going nowhere. Engagement is an ongoing process throughout the lifecycle of your policy or product. In this post, I’ll be outlining some of the benefits, and pitfalls, of stakeholder engagement. I have also written about some of the key principles of stakeholder engagement here.  What is stakeholder engagement? Stakeholder engagement is the process by which an organisation involves people who may be affected by the decisions it makes or by its implementation. It is more than just communication. Communication will only...
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Key Principles of Effective Stakeholder Engagement

Key Principles of Effective Stakeholder Engagement

by Sophie Taysom Comment Closed
I’ve seen the good and the bad of stakeholder engagement – from getting support and buy-in to heated exchanges that quickly turn nasty and result in reputational damage.  Having outlined 7 Benefits of Stakeholder Engagement, I want to turn attention to some key principles. Keep these principles in mind when developing and reviewing plans. A good engagement plan will grow and adapt to reflect both inputs received as well as further steps to be taken. 'The single biggest problem in communications is the illusion that it has taken place' George Bernard Shaw Plan You need to be asking a number of questions when developing a stakeholder plan. These include but are not limited to: What is the purpose of engaging with stakeholders? What are your objectives? Do you want to provide information, consult, involve and/or collaborate? Who are your stakeholders and how are you assessing them in terms of relative importance? What does implementation look like? Are you running a consultation, a series of...
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