Stakeholder Engagement at Northern Trust
Throughout the year we actively engage in dialogue with our stakeholders – clients, partners, shareholders, communities, regulators, suppliers and peers. These stakeholder groups are determined based on our business strategy of serving corporations, institutions and affluent individuals worldwide. Each stakeholder group affects our reputation, policies and best practices.
We believe it is imperative to regularly communicate with these groups through periodic in-person meetings, electronic communication, conferences and other platforms to hear their suggestions and concerns related to our business practices. It also provides us with an opportunity to promptly implement solutions related to stakeholder questions and avoid adversely affecting valued relationships.
In 2014, we worked with Business for Social Responsibility to formalize a Client Engagement Panel as part of our comprehensive CSR strategy. The three focus areas of this new group are:
- Innovation – Obtain new and creative ideas for meeting business and sustainability goals
- Strategic Growth – Demonstrate commitment to sustainable growth to clients and stakeholders and increase brand awareness
- Enhanced Collaboration – Strengthen relationships through transparency and communication
The group will convene throughout 2015 to implement a three-phase approach to stakeholder engagement designed to help us evaluate and assess the impact of our initial efforts and ongoing activities.
Click here to read more from the 2014 Corporate Social Responsibility Report
