Case study: How Adapt IT creates economic value for its stakeholders
Adapt IT is a leader in specialised software and digitally-led business solutions, assisting clients across the targeted industries to achieve more by improving their customer experience, core business operations, business administration, enterprise resource planning and public service delivery. As a responsible corporate citizen, Adapt IT understands the need to maximise both the economic and non-economic value generated for its key stakeholder groups. Tweet This!
This case study is based on the 2021 Sustainability Report by Adapt IT, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Adapt IT is committed to sustainable business practices within its operations and in the way that it interacts with its stakeholders, creating long-term value for all. In order to create economic value for its stakeholders Adapt IT took action to:
- create economic value for employees
- create economic value for providers of capital
- create economic value for the government
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With this case study you will see:
- Which are the most important impacts (material issues) Adapt IT has identified;
- How Adapt IT proceeded with stakeholder engagement, and
- What actions were taken by Adapt IT to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Sustainability Report Adapt IT identified a range of material issues, such as market presence, procurement practices, anti-corruption, diversity and equal opportunity, customer privacy and data security. Among these, creating economic value for its stakeholders stands out as a key material issue for Adapt IT.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups Adapt IT engages with:
To identify and prioritise material topics Adapt IT engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Shareholders and the investment community | · Interim and annual reports · Corporate website · Investor day events · Results announcements and presentations · Feedback emails · Annual general meeting (AGM) · Shareholder meetings |
| Employees | · HCM policy engagement sessions · Chief Executive Officer (CEO) webinars · Employee training · One-on-one sessions with line managers · Interim and full year performance reviews · Adapt IT social events · Monthly communication sessions · Interim and full year results presentations · Group communication · Performance reviews and development discussions · Core values and behaviour charter · Open-door policy · Quarterly newsletters and Intranet · Employee engagement survey |
| Customers
| · Account management meetings and visits · Leadership customer roadshows · Contract negotiations · Media press releases · Service management reports · Call centre support · Social media interactions · Solution and service updates and launches · Corporate website and brochures · Tradeshows, exhibitions and conferences · Annual customer satisfaction surveys · Key account managers |
| Government | · Written correspondence · Collaborative forums |
| JSE and other regulatory bodies | · Written correspondence · Business associations · Meetings · Interim and annual reports · External and internal audits · Presentations |
| Financial institutions and funders
| · Meetings and CEO events · Interim and annual reports · Written correspondence · Financial and cash flow analyses |
| Communities | · Meetings · Corporate Social Investment (CSI) initiatives · Media releases |
| Suppliers and partners | · Relationship management meetings and visits · Performance audits and reports · Technology conferences · Supplier days · Technology certifications · Contract negotiations |
What actions were taken by Adapt IT to create economic value for its stakeholders?
In its 2021 Sustainability Report Adapt IT reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Adapt IT paid R607 374 thousand for employee salaries, wages and other benefits.
- Creating economic value for providers of capital
- In 2021, Adapt IT paid R60 856 thousand to providers of capital.
- Creating economic value for the government
- In 2021, Adapt IT paid R47 922 thousand in taxes and levies.
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed
Disclosure 201-1 Direct economic value generated and distributed corresponds to:
- Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
- Targets: 8.1, 8.2
- Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
- Targets: 9.1, 9.4, 9.5
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References:
This case study is based on published information by Adapt IT, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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