Engaging with our stakeholders

Proactively engaging with our stakeholders helps us to understand their wants and needs, gain better insights into our material business risks, and identify opportunities to create shared value and beneficial outcomes for both Vicinity and our stakeholders. 

Strong stakeholder relationships are key to business success and delivering our broader strategy.

We prioritise our stakeholder engagement activities to target groups or individuals who are impacted by our business as well as those with the ability to impact on Vicinity. In 2018, we completed a materiality review, which included extensive consultation with both internal and external stakeholders to understand their views on the most important long term economic,  environmental, social and governance issues for our business

Our stakeholders

Consumers and local communities

How we engage

  • Through centre management offices and customer services desks
  • Direct engagement (through focus groups, one-on-one interviews) and third party research organisations
  • Social media and centre websites
  • Community engagement in development projects

Material interests

  • Monitoring and responding to consumer satisfaction
  • Appropriate tenant mix to service consumers wants and needs
  • Providing convenient, safe and engaging shopping Experiences
  • Contributing to local communities

Our response

We are focused on understanding our consumers’ wants, needs and behaviours to provide enriching community experiences and engaging market leading destinations. Learn more

 

Retailers

How we engage

  • Initially through national and centre leasing teams
  • Ongoing engagement with centre management teams
  • Strategic meetings with key members of the senior leadership team

Material interests

  • Monitoring and responding to retailer satisfaction
  • Increasing consumer visitation and dwell time by creating engaging centre experiences
  • Strong engagement with centre management
  • Access to marketing and other services to help retailers succeed

Our response

Partner with our retailers to understand how we can support the success of their retail operations. Learn more 

 

Investors

How we engage

  • Annual General Meeting
  • Annual Report
  • Annual and half yearly results presentations
  • ASX announcements
  • Investor Centre website
  • Direct email communications
  • Meetings with major institutional investors

Material interests

  • Meeting and exceeding financial expectations
  • Strengthening portfolio composition
  • Creation of community hubs and experiences that respond to changing consumer trends as well as supporting retailers to succeed
  • Successfully delivering our development pipeline
  • Maintaining a strong reputation through regular and transparent disclosure
  • Managing ESG related risks and opportunities such as climate change, data privacy, security, people, future of retail and modern slavery.

Our response

Providing regular and transparent disclosure on our risks, opportunities, performance and achievements. Visit our 2018 Annual Integrated Report and Reporting and transparency.   

 

Government and regulators

How we engage

  • Compliance reporting
  • Site visits
  • One on one meetings 

Material interests

  • Compliance with all laws and regulations
  • Collaborative partnerships that support local jobs and economic development 
  • Providing a safe environment for customers and communities

Our response

We engage with government and regulators in an open, transparent and constructive manner. At a local level, we partner with councils to address economic and social issues in our communities. Learn more

 

Community groups 

How we engage

  • National and local partnerships and sponsorships
  • Regular liaison through centre management and corporate offices

Material interests

  • Supporting local communities and providing jobs directly and indirectly through partnerships  
  • Direct and in-kind contributions to address community issues

Our response

We shape better communities through our strategic community investment program which focuses on addressing youth unemployment and disengagement.  Learn more

Suppliers and contractors

How we engage

  • Managing contracts and performance at national and centre level through our vendor management office
  • Development project control group meetings
  • One-on-one meetings 

Material interests

  • Building collaborative and mutually beneficial partnerships
  • Embracing innovation to meet operational and sustainability objectives
  • Fair and ethical business practices
  • Creating a responsible supply chain (including addressing modern slavery risks) and making a positive impact on communities

Our response

Create long-term relationships with a view to making a positive impact on our communities and the environment. Learn more

 

Strategic partners 

How we engage

  • Quarterly property performance review meetings
  • 6-weekly Project Control Group meetings for development projects
  • Monthly and quarterly reports
  • Site visits and one-on-one meetings 

Material interests

  • Deliver stable and growing returns
  • Responding to changing consumer trends and supporting retailers to succeed
  • Alignment in strategy and objectives and transparency in reporting
  • Delivering on investment objectives 

Our response

Ensuring stable and growing returns through successful asset management and development project delivery. Learn more

 

Our People

How we engage

  • Quarterly town halls
  • Bi-annual senior leadership forums
  • Monthly senior leader briefings
  • Annual employee engagement survey
  • Annual diversity and inclusion survey
  • Regular updates on the Intranet
  • Half-yearly performance reviews and quarterly development plan meetings with people leaders

Material interests

  • Learning and career development opportunities
  • Flexibility to balance professional and personal needs and ensure health and wellbeing
  • Creating a diverse and inclusive culture that promotes equal opportunities and meaningful experiences 

Our response

Creating a diverse and inclusive workplace, ensuring our people have the tools and resources to balance life and work commitments, and enabling them to develop meaningful careers. Learn more

 

Industry groups

How we engage

  • Active participation in industry working groups and roundtables
  • One-on-one meetings
  • Participation in annual sustainability assessments

Material interests

  • Creating engaging experiences and community hubs to support local communities
  • Solving industry-wide issues such as modern slavery risks
  • Understanding commercial realities of industry issues
  • Improving sustainability performance, particularly in relation to climate change risks and opportunities, and waste management

Our response

Engage with industry groups to learn, share our experiences and find collaborative solutions to issues impacting the industry. Learn more