Case study: How MMS creates economic value for its stakeholders
The McMillan Shakespeare (MMS) Group is a provider of salary packaging, novated leasing, disability plan management and support coordination, asset management and related financial products and services, employing a highly committed team of c.1,300 people across Australia, New Zealand and the United Kingdom. The positive outcomes and sustainable value MMS creates for its customers and all its stakeholders, are key to MMS’s success as a business.
This case study is based on the 2023 Sustainability Report by MMS, 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.
Abstract
MMS seeks to generate, through its operations, long-term value for employees, shareholders, and all its stakeholders. Tweet This! In order to create economic value for its stakeholders MMS took action to:
- create economic value for employees
- create economic value for shareholders
- create economic value for the state
- create economic value for communities
Subscribe for free and read the rest of this case study
Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over 2000 case studies. These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify > Measure > Manage > Change).
With this case study you will see:
- Which are the most important impacts (material issues) MMS has identified;
- How MMS proceeded with stakeholder engagement, and
- What actions were taken by MMS to create economic value for its stakeholders
Already Subscribed? Type your email below and click submit
What are the material issues the company has identified?
In its 2023 Sustainability Report MMS identified a range of material issues, such as climate change, data privacy and cyber security, governance and business ethics, accessibility and social inclusion. Among these, creating economic value for its stakeholders stands out as a key material issue for MMS.
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 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 MMS engages with:
To identify and prioritise material topics MMS engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Investors
| · Meetings with Executives and Directors · Full and half year results presentations · Analyst briefings · Investor roadshows · Annual General Meeting |
| Customers (B2C)
| · Daily interactions via call centres and digital platforms (Apps, Websites, Maxxia Online and RemServ Online, LiveChat, emails and social) · Customer surveys · In-person and online education sessions · Social media · Complaints management processes |
| Clients (B2B)
| · Formal and informal meetings with relationship managers and events (e.g. boardroom lunches, speaker events, charitable events) |
| Employees | · Internal communication channels · Video communications from the CEO · Annual staff roadshow · Employee engagement surveys and pulse checks · Learning and development programmes |
| Suppliers
| · Formal and informal meetings · Contract renewals and risk assessments |
| Government/ regulators
| · Regular meetings and ongoing engagement · Industry conferences · Submissions to inquiries |
| Industry associations
| · Ongoing engagement with peak industry bodies, including Director and Secretary responsibilities of the National Automotive Leasing and Salary Packaging Association (NALSPA) · Members of the Australian Finance Industry Association (AFIA), the Electric Vehicle Council (EVC), the Disability Intermediaries Association (DIA) and the Australian Network on Disability (AND) |
What actions were taken by MMS to create economic value for its stakeholders?
In its 2023 Sustainability Report MMS reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In FY23, MMS paid $M 174.0 in salaries and related employee expenses.
- Creating economic value for shareholders
- In FY23, MMS paid $M 91.9 in dividends.
- Creating economic value for the state
- In FY23, MMS paid $M 27.7 in dividends.
- Creating economic value for communities
- In FY23, MMS spent $ 464,659 in corporate donations and sponsorships.
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
78% of the world’s 250 largest companies report in accordance with the GRI Standards
SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.
Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.
7 GRI sustainability disclosures get you started
Any size business can start taking sustainability action
GRI, IEMA, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom (venue: London School of Economics)
- Exclusive FBRH template to begin reporting from day one
- Identify your most important impacts on the Environment, Economy and People
- Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP.
- Benchmarking methodology to set you on a path of continuous improvement
References:
This case study is based on published information by MMS, 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:
https://mmsg.com.au/wp-content/uploads/2023/09/FY23-Sustainability-Report-FINAL.pdf
Note to MMS: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.