Stakeholder engagement

Terveystalo’s role in society means the company has several stakeholders with whom it engages in active dialogue. In addition to customers, personnel, private practitioners, and shareholders, our primary stakeholders include the authorities and social decision-makers that can influence the relevant legislation and its drafting. Other key stakeholders include the supervisory authorities and the media. We also engage in close interaction with lobbyists within the sector. Open dialogue and effective cooperation enable a more predictable operating environment for everyone involved. The table below describes Terveystalo’s engagement with various stakeholders in 2021.

Stakeholder group Stakeholder expectations Terveystalo's response to the expectations Channels of engagement
Customers Competitive and responsibly produced high-quality services. In response to the challenges caused by COVID-19, we provided COVID-19-related services, such as testing, and increased our provision of digital services. Physical and digital encounters with customers, online services, feedback surveys and channels, marketing communication, social media.
Personnel and private practitioners Responsible management, smooth interaction, equality, a good working atmosphere and working conditions, development of competence, competitive pay. We continued a change process to support successful work performance and even more effective cooperation. We actively communicated with the personnel on the COVID-19 situation, changes to our practices in various stages of the epidemic and other topical issues. Personal interaction, intranet, newsletters, personnel satisfaction survey, development discussions, training, seminars, and events.
Shareholders In addition to creating financial additional value, open communication about the implementation of the growth strategy and financial performance, responsible business. We engaged in active communication on business development, Terveystalo’s entry into the Swedish market, the impacts of COVID-19 as well as Terveystalo’s new strategy and its implementation. Open and active dialogue; regular and continuous reporting with stock exchange releases and reports, personal communication channels, such as meetings with investors and analysts, general meetings of shareholders, and other events. Our Investor Relations function coordinates interaction with investors, aiming to ensure equal opportunities to receive information and meet with the company management.
The authorities and decision-makers Good cooperation and open disclosure of information and interaction to facilitate the preparation of decisions. The development and renewal of healthcare is a shared goal for Terveystalo, the authorities and decision-makers. We engaged in active dialogue on issues related to the industry. Open dialogue, meetings, and communication in various working groups and events, etc.
Media Openness of communication, reliability of information and prompt service. Use of Terveystalo’s expertise in health care-related topics. We engaged in active communication regarding our operations and made our professionals available on topics related to health and health care. Open and active communication through various channels. Quick and open response to requests from media.
Industry organizations Effective and open cooperation that makes our expertise available to the entire industry. Development of Finnish health care and promotion of citizens’ health constitute a common goal. We engaged in active dialogue on issues related to the industry. Diverse cooperation with organizations such as the Finnish Association of Private Care Providers and Lääkäripalveluyritykset. Our cooperation channels include working groups and various events.

 

Materiality analysis as the foundation of our responsibility efforts

We have defined our material aspects of responsibility in collaboration with the representatives of our key stakeholders. The materiality analysis we conducted in 2019 serves as the foundation of our responsibility efforts, corporate responsibility communications and their development. Based on our materiality analysis, we also analyzed in detail the views of ESG investors regarding various aspects of corporate responsibility. As part of the background work for the materiality analysis, we surveyed the global leaders of our industry. To identify Terveystalo’s responsibility and responsibility priorities, we arranged a workshop with our selected experts. After the workshop, we reinforced the results by conducting a survey targeted at our experts, which was then used as the basis for an online survey of stakeholders. Terveystalo’s employees and private practitioners were particularly well represented in the survey. Other stakeholders represented in the survey included our shareholders, investors, media, and industry organizations. In addition to the online survey, we interviewed the representatives of our key stakeholders with the help of our partner Miltton. The order of priority of our material themes of responsibility was largely the same regardless of the stakeholder mix.

Our key responsibility themes are closely related to our core function

All our stakeholders were unanimous in their view of Terveystalo’s critical themes of corporate responsibility. Terveystalo must operate in the best possible manner in its core business of health care service provision and particularly ensure the clinical quality and effectiveness of care, patient safety, high service quality, occupational safety, data protection, information security, the promotion of customer well-being, and the prevention of illnesses. In addition, Terveystalo’s shareholders emphasized the importance of focusing on the company’s carbon footprint, which is related to the current megatrend of climate change. Terveystalo has made several major acquisitions in recent years, and the well-being at work of the company’s personnel was substantially emphasized in the results of the materiality analysis. The link between employee well-being and patient well-being was highlighted in the responses of customers and shareholders alike. In addition, the most significant risks and opportunities were seen by all the stakeholders as being linked to both information security and digitalization.

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