Stakeholder engagement

Inchcape’s success is dependent on the continued trust and support of all its stakeholders; strong relationships that allow us to work with our key stakeholders are therefore fundamental to the long-term success of the Group.

Stakeholder How we create value Interests How we engage Outcome and progress

Original Equipment 
Manufacturers (OEMs)

 

We provide our OEM brand partners with professional and efficient routes to market for the post-factory automotive chain 
  • Strategy
  • Long-term commercial sustainability and business viability
  • Trusted partnerships
  • Health and safety
  • Responsibility

Management

  • Regular top to top executive management meetings
  • Market level operational meetings
  • Pan-market brand development

Board

  • Brand partner deep dive review annually
  • Presentations from OEM management at Strategy Day

New distribution agreement with JLR in Poland, the first such contract for Inchcape in this market

Distribution agreements with Daimler in Colombia and El Salvador, enhancing the new contracts with the OEM established in the Americas in 2019

Partnerships with Toyota in Singapore and Belgium to offer financial products to customers

New Distribution contracts for MINI in Chile and for MINI and BMW Motorrad in Peru

Customers

We provide access to automotive ownership and support services throughout the customer journey and aim to deliver the best experiences for customers in our industry globally
  • Access to vehicle products and services
  • World renowned automotive brands
  • Specialist product and service knowledge
  • Customer service
  • Aftersales
  • Safe facilities
  • Tailored experiences, both on- and offline
  • Business viability (for long term contracts)

Management

  • Daily reporting of customer feedback on reputation.com
  • Analysis of Salesforce customer journey management platform
  • Ongoing surveys at market level

Board

  • Update on the customer satisfaction analytics from reputation.com at each meeting

Customer omni-channel platform rolled out to all Subaru markets in South America

Reputation.com:

Total reviews in 2020: 35,748

  • 89% of reviews positive
  • 3% of reviews neutral
  • 8% of reviews negative

71% of reviews included customer comments

Employees

We aim to enable every colleague to achieve their personal goals at each stage of the employee journey; to recognise and develop talent; and to foster a socially conscious culture based on inclusion, empowerment andoptimised potential through learning 
  • Reward, training and development, diversity and inclusion
  • Strong approach to health and safety – duty of care
  • Strategy
  • Company purpose
  • Long-term commercial sustainability
  • Security of employment stemming from business viability
  • Responsible employer

Management

  • Management visits to sites
  • Pulse survey carried out against backdrop of
  • COVID-19 and its impact on the business covering:
    • Impact on individual and their wellbeing
    • Communication
    • Leadership and management
    • Ways of working
  • Performance management framework (DRIVE5)
  • Employee intranet and Hive Learning collaborative platform provide two-way communications capability Group-wide

Board

  • Reviews outcomes of engagement surveys and action plans prepared by management
  • UK pension consultation
  • Total employee experience increased from 59% to 64%
  • Overall satisfaction increased from 61% to 70%
  • 74% of employees think the Company has acted responsibly
  • 85% would recommend working at Inchcape
  • An 8% decrease in response rate which may be attributed to number of employees on furlough
  • 23 countries completed roll out of minimum three Risk Management Programmes
  • Health, Safety & Environment (HSE) system rolled out in 17 languages
  • Measurement of attrition

Colleague communications frequency and content enhanced to drive better engagement during period of extreme challenge for individuals

‘Together in Spirit’ colleague video campaign emphasising a united global community

Leadership communications framework established to improve top-down visibility including management townhalls and regular videos from Group CEO

New UK pension scheme introduced, See page 60 for further details

Shareholders

Our objective is to deliver outstanding returns on long-term investment based on a sustainable platform for growth, disciplined approach to capital allocation and cash returns throughdividends and share buyback 
  • Strategy
  • Long-term commercial sustainability and business viability
  • Company purpose
  • Capital allocation
  • Financial returns and strength of balance sheet
  • Investment in responsible business

Management

  • Regular dialogue with institutional investors
  • Webcasts
  • Annual Report and plc website
  • Capital Markets Day

Board

  • AGM
  • Shareholder consultation
  • Chairman one to one meetings

During the year a mixture of virtual and physical meetings were held with shareholders representing approx. 60% of issued share capital

Votes from shareholders representing 88% of share capital at the 2020 AGM

Upon the announcement of a new CEO, the Chairman contacted shareholders to discuss the appointment

During his first few weeks with the Group, Duncan Tait met with a number of key shareholders representing 35% of share capital

Communities

We have a balanced approach to engagement with the communities in which we operate, empowering ownership at local level withstructural support from Group 
  • Local employment
  • Health and safety, including local environmental concerns e.g. waste disposal
  • Support of local communities
  • Responsible approach to local law and regulations

Management

Market-specific activity co-ordinated at local level

Group-level support for extraordinary events affecting our market communities

Board

Updates on community activities included in regional market updates from CEOs

Around 15,000 people employed in 34 countries

Strong levels of local community involvement reinforced during pandemic with support initiatives.