Pioneer Foods recognises that effective stakeholder engagement is the basis for good corporate governance and is committed to the stakeholder inclusive approach recommended by King III. The Group’s approach is guided by a stakeholder relations policy, which recognises that social, economic and environmental interests are integral to the success of the business. Extensive media monitoring is conducted on an ongoing basis to assist with managing reputational risk.
The Group has strategically consolidated stakeholder engagement activities. Details of the Group’s key stakeholders, engagement channels, key concerns and company responses, critical for value creation, are shown in the table below:
|Stakeholder||Touch points||Value creation|
|Shareholders and investors||Pioneer Foods facilitates regular engagement and consistent communication with shareholders, investors and analysts.||Pioneer Foods is committed to helping investors make informed decisions and secure the investment case amongst existing and potential shareholders.|
|Customers and consumers||Pioneer Foods values open and transparent communication with its customers and consumers through forums, one-on-one interaction, advertising, corporate and brand websites, social media platforms, the customer care centre and shopper marketing.||The Group values the trust consumers place in its products and brands. This is noticeable through its investment in and efforts to deepen business knowledge and understanding of customers and consumers to ensure strategic collaboration at all levels.|
|Employees||Pioneer Foods has more than 8000 full time employees located across South Africa. Employee-related focus areas include remuneration, training and safety initiatives. Engagement platforms include intranet, e-mail and desktop screensavers, newsletters, surveys, face-to-face briefings, management presentations, conferences, forums, performance appraisals and bulletin boards.||Pioneer Foods’ employees are our most valuable asset. We create value through job opportunities, remuneration, career opportunities and the improvement of skills. Short and long-term incentive schemes have been competitively benchmarked to ensure fair practices and retention.|
|Communities||Pioneer Foods is committed to invest in the communities within which we operate through various socio-economic development programmes and the activities of PFECT.||As a responsible corporate citizen, Pioneer Foods is committed to empower communities through feeding schemes, education and health initiatives that enable them to participate in securing their own food for the future.|
|Government and regulators||The Group monitors its regulatory landscape for relevant parliamentary meetings on an ongoing basis to ensure the relevant business representation. Comments on proposed legislation are continuously submitted, with further interaction through industry bodies.||Pioneer Foods is committed to addressing pertinent industry issues alongside Government to bring about resolutions that will benefit the industry and the economy.|
|Suppliers||Pioneer Foods’ suppliers comprise of local and international raw material, packaging and manufacturing service providers. They are selected according to reliability of supply, range of products, quality, responsible sourcing practices and pricing.
Read more about our supplier code of conduct on www.pioneerfoods.co.za.
|Local and international supplier relationships are of critical importance to the continued success of Pioneer Foods and they are engaged in an ethical manner.
As one of the most significant buyers of raw material from the agricultural industry, the Group supports and grows supplier relationships by providing a competitive market for raw materials and services.
|Business partners||Pioneer Foods continues to shape its corporate portfolio through strategic partnerships. Engagement is on an ad hoc basis and predominantly at executive management level.||The Group is committed to strategic partnerships to create value by driving strategy, addressing key sustainability issues and focusing on product expansion and growth.|
|Media||This stakeholder group includes journalists, editors and publishers from various media houses and publications across South Africa. Media enquiries are fielded via e-mail, telephone or face-to-face on a regular basis.||Pioneer Foods endeavours to respond to media questions and enquiries effectively, accurately and timeously to help promote public understanding of the business and the issues that the Group faces.||Industry and Business Associations||Pioneer Foods is a participant in and a member of key industry and business associations through relevant forums, meetings and forum submissions.||The Group prioritises its engagement with key industry and business associations which influence and impact societal as well as corporate sustainability.|