54 | Just Group PLC | Annual Report and Accounts 2023
We recognise the role that each stakeholder group plays in our success and our responsibilities towards them. Building strong stakeholder engagement to understand their interests is essential. The table below describes our key stakeholders and sets out how the Board and colleagues across the Group engage with them. The principal decisions taken by the Board impacting stakeholders are contained within the Section 172 report on page 56.
RELATIONSHIPS WITH STAKEHOLDERS
The Board recognises that the long-term sustainable success of Just is dependent on the way it engages with our key stakeholders.
OUR STAKEHOLDERS
HOW WE ENGAGE
• Engage directly when we provide regulated financial advice, guidance and other forms of assistance and customer service; • Engage indirectly via financial intermediaries and other organisations such as pension schemes and corporates; and • Engage with research companies who collect the thoughts and opinions of individuals. This helps the Board to understand how Just is delivering its services and meeting the needs of our target customers. • Convene industry events to bring together trustees, advisers and subject matter experts to encourage dialogue and share knowledge; • Hold individual meetings to understand the specific challenges facing pension scheme trustees; and • Commission surveys and other research to listen to feedback from trustees and advisers.
INDIVIDUALS/FINANCIAL ADVISERS People approaching, at or in-retirement wanting help with their retirement finances, and their financial advisers.
LINK TO STRATEGIC PRIORITIES 5. 1. 2. 3.
PENSION SCHEME TRUSTEES/EMPLOYEE BENEFIT CONSULTANTS Individuals accountable for securing good outcomes for pension scheme members and clients.
LINK TO STRATEGIC PRIORITIES 2. 3. 4.
• Directly, day-to-day through line management and by using a variety of communication channels; and • Gather feedback using a range of techniques such as structured surveys and through more informal channels.
COLLEAGUES The team of colleagues at Just who deliver outstanding service to customers and to the people who support those that deliver the services.
LINK TO STRATEGIC PRIORITIES 5. 1. 2. 4.
• Direct meetings with members of the Board; • Annual General Meeting and results presentations; • Shareholder communications; and • Regular news updates on the business and industry topics.
INVESTORS The equity and debt investors who invest the capital to finance the business.
LINK TO STRATEGIC PRIORITIES 1. 3. 5.
• Direct meetings with members of the Board and the Executive and Senior Leadership teams; • Written responses to consultation documents; and • Participation in workshops directly with regulators and via trade associations.
REGULATORS Organisations who regulate the conduct of firms and their financial stability.
LINK TO STRATEGIC PRIORITIES 2. 3. 5.
• Regular performance reviews enable all parties to understand expectations and support each other to optimise delivery; • Written feedback following each tender process to explain the outcomes; • Conflicts of interest checks, ensuring advantages are not gained through personal relationships; and • Sanctions screening, ensuring that Just and its suppliers are free from financial crime risk.
SUPPLIERS The companies providing the services, materials and resources to enable Just to operate the businesses in the Group.
LINK TO STRATEGIC PRIORITIES 1. 3.
• Partnership with charities supporting local communities and the environment; • Engage with the financial advice community; and • Participate in sustainability initiatives.
COMMUNITY AND THE ENVIRONMENT Our peers, civic society and the later life financial advice communities who we engage with and the wider environment.
LINK TO STRATEGIC PRIORITIES 5. 1. 2. 4.
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