Stakeholder management is essential for the success of an organisation. It is important to get stakeholder management right, as it not only ensures that a high level of communication and stakeholder understanding is achieved and maintained but also to help establish better planning and outcomes.
When investing in a good stakeholder engagement and management solution it is a good idea to get a tool that will meet all your stakeholder management needs in one. Here are three techniques that will help you manage your stakeholders effectively and to consider when using a stakeholder management solution.
But First, What is Stakeholder Management?
In simple words, stakeholder management is the act of observing, organising, communicating and building strong relationships with your stakeholders. Stakeholders are the centre of any organisation, be it external or internal. This is why stakeholder management holds paramount importance. The main components of stakeholder management are planning and developing strategies to inform and engage your stakeholders so that their interests align with that of your organisation’s. Needless to say, stakeholder satisfaction is what defines your organisation’s success.
Stakeholder Management Techniques
- Identify Your Stakeholders: The first step to stakeholder management is mapping your stakeholders. This is necessary to understand and plan the level of engagement a stakeholder needs. There are a few questions you must ask yourself to be able to do so. What level of influence does the stakeholder have on your action/project? Can they directly impact the outcome of your action/project? What kind of involvement is required from a stakeholder to ensure that your actions/projects are successful? Once you have the answers to these questions, you will be able to plan your engagement strategies accordingly.
- Send the Right Message: For any organisation, keeping your stakeholders engaged through every step of a project is important. But how do you know if you’re doing it right? Maintaining communication with your stakeholders is extremely important. By keeping your stakeholders in the loop, you can avoid conflicts. However, it is pivotal that you send the right message to them and do it consistently. With consistent messaging, you will be able to keep your stakeholder engaged, informed, and clear about what is happening without fuelling any confusion. A good idea is to avoid jargon that your stakeholders are not familiar with.
- Communicate: As mentioned before, maintaining communication is critical. While keeping the conversation going is necessary, methods of engagement are also important. Every stakeholder is different which is why you should be able to decipher their level of influence and the best methods or channels to communicate with them. Furthermore, you must ensure that your stakeholders’ concerns are properly addressed and there is no confusion.
For a complete stakeholder engagement solution that makes stakeholder management and communication easy, get in touch with us.
