Informally, on the phone, in person or via email, we interact with stakeholders thousands of times a day. Collectively, those contacts create relationships that help us grow and prosper. So we work to share and manage what we learn from those encounters.
One way is through formal programs that engage various shareholder groups. Two examples:
Reputation Scorecard
In 2010, we partnered with the Reputation Institute, a research firm that specializes in corporate reputation management. Based on their proprietary reputation model we developed Allstate's Reputation Scorecard. We use this customized, comprehensive model to measure our overall reputation across all seven stakeholder groups, both individually and as a whole; determine the key drivers of reputation within each group; and identify the key expectations of these groups.
Overall Reputation Scorecard results show that all seven stakeholder groups expect Allstate to:
- Act ethically, fairly and responsibly
- Provide customers with a dependable, hassle-free relationship
- Provide clear and credible leadership and ensure financial stability
- Provide value at a competitive price
- Use its influence and local presence to support important causes
Individual senior leaders of Allstate are each responsible for meeting specific reputation goals with relevant stakeholder audiences. These results are then shared across the enterprise twice a year, in an effort to inform our business strategy, day-to-day decision making and development of our messaging and communications.
Ceres Stakeholder Engagement Model
Allstate also has partnered with the nonprofit organization Ceres. Ceres leads a national coalition of investors, environmental organizations and other public interest groups that work with corporations on issues of sustainability and accountability. Together we are creating a customized Allstate stakeholder advisory team, including external experts from socially responsible investment organizations, environmental and social nongovernmental organizations and other community representatives. The group will foster open dialogue about Allstate's social responsibility strategies and goals, as well as current and emerging issues, risks and opportunities. As it has for other companies, we expect the Ceres model will help us to improve our performance on key environmental and social issues.
Business Decisions Derived from Stakeholder Feedback
On our own, we also analyze and act on feedback from various stakeholder groups. Some examples:
- Armed with research showing that personal experience is a significant driver of our reputation with consumers, we created the Good Hands Roadside assistance program. With no annual fee, it provides the opportunity to experience Allstate's service even if the person is not a customer. The program provides assistance in the case of an accident, flat tire or other problem on the road and is open to anyone.
- Because we learned that stakeholders who know about Allstate’s extensive involvement in communities rate the company’s reputation significantly higher, we expanded our communications about community programs. We also doubled the size of Allstate Agency Hands in the Community Grants (from $500 to $1,000) that are awarded through The Allstate Foundation to agency owners who volunteer at local nonprofits.
- We developed a decision-making tool for employees called Conscious Choice. It provides a model that helps employees consider both the intended and unintended consequences of their actions. Anyone can call a Conscious Choice meeting to ensure that we are asking relevant questions about how projects or strategies can affect external stakeholder groups. It instills clear accountability to all employees for keeping and improving our corporate reputation.
Back to Top