Engaging with stakeholders
Our vision – Pick n Pay as the retailer of choice for all South Africans. Our customers will select from a wide range of products and services of outstanding quality, range, price and service; supported by ethical and informative marketing practices.
Our engagement – we appointed Jonathan Ackerman as our Customer Director to reaffirm our commitment to consumer sovereignty and to ensure that our customers have a voice on our Board. We communicate through personal meetings, customer surveys and consumer forums, as well as through our website, social media interactions, marketing campaigns and our customer loyalty programme Smartshopper.
Our vision – our communities will continue to benefit from our ongoing investment in education and literacy programmes, housing, self-help schemes, child welfare, parent support groups, feeding schemes, relief programmes, cultural projects, sport development and environmental initiatives.
Our engagement – we engage through various forums such as township co-operatives, community affiliations, university partnerships, the Pick n Pay Schools Club and through the social responsibility programmes of our individual stores and foundations.
Our vision – our employees will work for the most sought-after employer in the retail industry, with access to recognition, opportunities, working conditions and competitive remuneration.
Our engagement – we communicate actively and comprehensively with our people through initiatives which include management updates, employee surveys, monthly publications, in-house television and radio, employee conferences, skills development and training and ongoing engagement with our union.
Our vision – to have the most innovative and mutually beneficial franchise model in the retail industries in which we operate and to be the consistent franchisor of choice for retail entrepreneurs.
Our engagement – is through regular one-on-one visits and meetings, technical and operational support, our franchise forum and regular franchise conferences.
Our vision – our shareholders can expect us to continue to generate consistent profits in a long-term, sustainable manner that is the mark of a well-established business, operating according to tried and tested principles and innovative business practices. We aim to provide an attractive return on investment, while providing adequate funds for the future growth and sustainability of Pick n Pay.
Our engagement – we have an open door policy with our shareholders, and our CEO and CFO are willing to regularly engage in a transparent manner with investors, analysts and fund managers. We engage in formal analyst presentations twice a year on the publication of our result and hold an annual general meeting in June every year. We have a comprehensive investor relations section on our website (www.picknpay-ir.co.za) which provides our shareholders with relevant and up to date financial and share performance information.
Our vision – our suppliers can rely on our continual drive towards ever more fair, efficient and mutually beneficial business relationships, while we continue to pursue and develop new products that meet evolving customer needs and environmental initiatives. We will continue to develop small businesses and suppliers through various programmes to enhance access to Pick n Pay’s supply chain and further contribute to job creation in Africa.
Our engagement – is through visits and meetings, technical support, compliance training and health and safety audits. We hold supplier conferences and regularly consult on key initiatives to ensure supply chain efficiency. The implementation of specialised category buying at Pick n Pay has necessitated an increased engagement with suppliers and transformed our buyers into product category specialists.
In addition to the major stakeholders identified above, we also have close relationships with many NGOs and business associations where we work closely together on key social and environmental issues facing our local communities and South Africa as a whole. We also engage actively with government departments and other regulators on new legislation and policy reform to ensure that we have a voice in a developing South Africa.
We commit to an open and transparent engagement with the media and to provide information in a timely and courteous manner. We will continue to raise issues with the media which we believe are in the public’s interest, and in the interests of our customers.
Ensuring our strategy meets the needs of our stakeholders
Pick n Pay values open and honest feedback from our stakeholders, as it does media comment, as such interaction is critical to informing our thinking and strategic focus. We engage constantly with a wide range of stakeholders, and as the marketplace becomes more complex and competitive this will become even more important. Engagement with the relevant stakeholders is an expectation across all our departments and is not the preserve of a single director or division. We are increasingly using social media and web-based platforms to encourage real-time interaction and will enhance our engagement activities using our Smartshopper information.
The King Code and Report on Governance for South Africa (King III) highlighted that managing relationships with stakeholders is an essential component of corporate governance, and placed much emphasis on enhanced disclosure and integrated sustainability reporting beyond mere financial performance. In line with the requirements of King III, Pick n Pay is committed to the integrated reporting of our financial, social and environmental performance. In this way, we are able to demonstrate to the full spectrum of our stakeholders how we have generated value in our adherence to the most stringent standards of corporate responsibility, financial disclosure and environmental management. Such integrated reporting allows our stakeholders to make a more informed assessment of the Company’s social and economic value rather than simply its book value, while at the same time enabling them to assess the extent to which we have met the commitments that we have made to them.
However, our stakeholder engagement extends far beyond what is required by disclosure rules and regulatory requirements. Rather, Pick n Pay considers stakeholder engagement a strategic imperative that augments our competitive advantage and allows us to focus on operational as well as customer-centric sustainability issues, in a way that builds inclusive, mutually beneficial relationships based on transparency, respect and idea-sharing.