Measuring stakeholder engagement is critical to understanding the impact of your communication.
Undertaking stakeholder management at times may seem overwhelming, however, it is crucial for any organisation to continue to collaborate, capture measurable feedback and understand their stakeholders. Whatever you are consulting on, the methods you implement for stakeholder management and engagement will influence your success.
Subsequently, as confidence in your stakeholder engagement processes develops, the capacity to engage will increase as will the number of stakeholders wishing to actively participate.
A secure centralized digital stakeholder engagement solution facilitates the ability to engage with your stakeholders with ease while maintaining a detailed database of your stakeholders in a secure environment.
In this blog, we are going to discuss the significance of measuring stakeholder engagement while building trust and confidence with your stakeholders throughout the course of the consultation.
Measuring stakeholder engagement – identifying types and needs
There are different types of stakeholders and each one of them will have different interests in your project. Listed here are a few of them and how they define success.
- General Managers and Project Managers– Success for them is defined as how much a particular project can be instrumental in achieving the long-term goals of the organization.
- Functional Managers– For them, success is defined by how cost-effectively and efficiently the resources contributed by their departments are utilized in the project.
- Project Investors/Sponsors– The define success by evaluation if the team stayed on budget during the project and if the end results met the goals they had funded for.
- Owner-Users– As they will be utilizing the final outcome/services, the success for them is defined if the final outcome meets their needs.
Measuring stakeholder engagement – analysing your approach
Now there are two ways in which you can engage with your stakeholders:
- A co-operative approach, wherein you discuss the matters with your stakeholders and make decisions based on consensus.
- A consultative approach, wherein you ask for their opinions but the final say will be only yours as a project manager.
No matter which approach you take, it is important that your stakeholders are communicated with about the terms in the beginning and they understand what they expect from you exactly. After all, you want to retain your stakeholders and measure the success of your engagement.
Digital Stakeholder Management Tools
Since it is quite a common scenario that all your stakeholders will not be at the same place and you might not be able to communicate face-to-face with all of them considering you have other tasks to manage also, having a digital stakeholder management system in place can be quite handy.
At Engagement Hub, with the options such as creating surveys and polls and getting instant evaluations for those and sharing information with the stakeholders without having to worry about the clashes in each of your schedules and/or time zones, you would not just that the access to engage with them more efficiently, but you can also measure and get feedback from them about how effective they consider your strategies to be.
Watch our quick video below to find out more about our unique SRM.