Chapters
Annual Report 2018

Materiality and stakeholder communication

In this report we present our performance in relation to our CSR Ambition. Our CSR Ambition and therefore the content of this report, are based on both an internal value chain analysis and on continuous communication with relevant stakeholders. Our most relevant stakeholders are our customers, business partners, investors and regulatory authorities. These stakeholders were selected because we have a direct influence on their interests. To enhance our awareness of the world around us and our impact on it, and to narrow down the focus of the report, each year we update a materiality analysis. This presents the most relevant topics to our stakeholders that GrandVision has an impact on. The

assessment is approved by the Management Board and consists of three steps:

Step 1. Determination of relevant topics

GrandVision annually updates a shortlist of relevant topics based on internal (strategy and risk related) and external (context related) developments. Relevant topics are those with which GrandVision has or can have an impact, inside the organization and in the value chain or society. During an internal consultation, the CSR coordinator validated the updated shortlist and where relevant, topics were further defined and missing topics were added.

In order to cover the content, the following topics were renamed, redefined or the scope was broadened:

Topics name in 2018

Adjustment

Topics name in 2017

Accessibility of high-quality eye care

Renamed

Quality and accessibility of our eye care offering

Product quality and innovation

Combined

Quality and safety of eye care products & innovation in provision of eye care

Employee engagement and well-being

Renamed

Employee engagement and satisfaction

Social impact of products and services

Combined

Eye care impact & customer awareness and education

Legal and regulatory compliance

Renamed

Legal compliance

Talent attraction and development

Renamed

Talent attraction, development and retention

Stakeholder management

Renamed

Stakeholder communication and engagement

CSR in Corporate Governance

Broadened scope

Employee engagement in CSR

Step 2. Determination of reporting priority

The topics determined as relevant are assessed in terms of their influence on GrandVision's ability to impact society and influence stakeholders’ decisions. To this end, several consultations were carried out.

To prioritize the topics from a stakeholders' perspective, a stakeholder consultation was performed through an online survey including our most important stakeholder

groups; employees, investors, customers, suppliers and analysts. These stakeholders were selected because GrandVision directly influences their interests. An internal consultation was held with the Management Board to adjust the prioritization of topics from GrandVision’s perspective.

The outcome is presented in the materiality matrix below.

The combination of the horizontal axis, which represents the prioritization from GrandVision’s perspective, and the vertical axis, representing the prioritization from stakeholders' perspective, helps us to determine the most material topics. GrandVision implements the outcomes of this assessment as follows:

  • For the high and medium material topics GrandVision aims to create impact along its value chain by defining KPIs to monitor the impact and develop future targets to maintain sustainable business operations.
  • The high material topics are aligned with GRI – we report one specific standard disclosure related to these topics (GRI Content Index) to meet stakeholders' information needs.
  • The lower material topics are those where GrandVision wants to demonstrate its social responsibility.
Materiality topics

Topic

Definition

Scope

KPI

Results 2018

Target

Customer satisfaction

Continuously taking into account and improving GrandVision's services in order to achieve a high level of customer satisfaction

Customers

NPS

60+

-

Business ethics

Providing a business environment in which people adhere to the code of conduct, are transparent, honest and do not demonstrate fraudulent conduct and behavior.

GrandVision organization

% of employees taking the GV Code of Conduct training through e-learning annually

85.5%

100% by 2019

Product quality and innovation

Assuring the highest possible quality and safety of our eye care products and investing in innovative technological products and services to fulfil changing customer needs and demand.

Customers

Meet requirements of Regulation EU 2017/745

-

2020

Accessibility of high-quality eye care

Making high-quality eye care products and services accessible to more and more people around the world.

Customers, Community

Store network

7.095

≥1% average by 2023

Business model innovation

Staying up-to-date with the constantly developing industry due to mega trends and developments (digitization, omni-channel, etc.)

Customers

E-commerce share of total sales

N/A

10% by 2023

Employees engagement and well-being

Guaranteeing a safe and healthy working environment where GrandVision’s employees feel engaged and are enabled to deliver their best performance.

GrandVision organization

NPS Score

*Measured and addressed locally

-

Step 3. Implementation

Based on the outcomes of the materiality assessment, approved by the Management Board, GrandVision determines the topics to be addressed in this combined Annual Report, including the scope and boundaries of topics. Business lines and local divisions are informed and involved so these topics are acted on and reported.

In future, we will continue to engage with our stakeholders to gain further insight into the materiality of topics and prioritize these in greater detail.