Stakeholder Management
Manage stakeholder expectations and needs by aligning those with requirements and objectives of the organisation. This involves planning of actions to effectively communicate with, negotiate with and influence stakeholders.
Proficiency Level
Level 1 (Follow)
N/A
Level 2 (Assist)
- Identify key stakeholder relationships, needs and interests, and coordinate with stakeholders on a day-to-day basis.
- Serve as the organisation’s main contact point for stakeholder communications, clarifying responsibilities among stakeholders, and engaging them to align expectations.
- Understand which external and internal stakeholders are relevant to own work.
Level 3 (Apply)
- Develop a stakeholder engagement plan and negotiate with stakeholders to arrive at mutually beneficial arrangements.
- Build relationships with relevant external peers reflecting business needs.
- Be an ambassador for the organisation, supporting its strategy and living its values and behaviours.
- Proactively share information gained from external stakeholder engagement in a helpful and timely way.
- Build and maintain positive relationships with internal peers and other colleagues, in ways that help to deliver the strategy as a whole.
Level 4 (Ensure)
- Define a strategic stakeholder management roadmap, and lead critical discussions and negotiations, addressing escalated issues or problems encountered.
- Build relationships and networks with relevant external peers, regulators, relevant stakeholders or professional bodies.
- Maintain a positive approach to influence, persuade and negotiate effectively as required by the project(s).
- Develop and maintain an understanding of different approaches to stakeholder management and be able to make an informed recommendation about which approach to use to maximum effect.
- Develop awareness and identify opportunities to collaborate effectively.
Level 5 (Strategise)
- Establish the overall vision for the alignment of organisation’s and stakeholders’ objectives, co-creating shared goals and strategic initiatives with senior stakeholders.
- Develop and maintain a good understanding of the organisation’s stakeholder landscape, interactions and linkages across it, trends over time, and future movements.
- Play a key role in using stakeholder engagement (including collaborative working) to deliver strategic benefits. This may include developing networks and influencing on issues beyond regulation.
- Drive the development of stakeholder activities across the organisation remit to maintain relationships that deliver maximum strategic benefit.