Material aspects for responsibility
The essential themes and performance indicators for corporate responsibility are defined, in collaboration with sustainability consulting company ToFuture Oy, with a materiality analysis. The themes have been selected in dialogue with the ownership steering group at the Ministry of Employment and the Economy, and they are based on the results of both a corporate image survey and a customer satisfaction survey, and on the company’s own views. The materiality of the themes is monitored via the company’s business operations and through stakeholder feedback.
Finnish Industry Investment's material aspects for responsibility
FII's stakeholders consist of four main groups. These groups represent stakeholders associated with investment activities, civil society, the company's owner, and personnel. The corporate image and strategic customer satisfaction survey maps out stakeholders' expectations for the company's operations as well the strengths and development needs of the company.
Finnish Industry Investment's stakeholder arenas
- Business arena
The business arena's expectations towards corporate responsibility are mainly related to responsible investment. This arena also has expectations for internal procedures that ensure high quality and confidentiality as well as legal and regulatory compliance. FII seeks to be a trustworthy expert partner and an enabler of growth.
- Civil society arena
The expectations of the civil society arena are significant because as a government-owned investment company, FII manages state capital. The expectations concern largely the company's economic impact and principles for responsible investment.
- Owner arena
Owners' expectations for Industry Investment's operations are mainly concerned with the company's economic impact and responsibility. Achieving results, in terms of both economic impact and financial performance, has a strong influence on the cooperation with the state as owner, and consequently on the resources available.
- Internal arena
Internal stakeholders’ expectations for FII's operations are mainly concerned with the economic impact, finances, responsible operation and human resource policy of the company. Expectations of personnel are measured with the job satisfaction survey conducted at regular intervals. Industry Investment's primary objectives as an employer are responsibility and reliability.
Corporate image survey
FII has conducted a corporate image survey at three-year intervals since 2006. The survey ascertains how well the company is known and how stakeholders regard its services. In 2011 the company launched also a strategic partnership satisfaction survey. This charted stakeholders’ perceptions of their cooperation with Finnish Industry Investment, particularly with regard to the quality and usefulness of services.
These two surveys were combined in 2014 into a single corporate image survey. This survey will now be conducted at two-year intervals.
The expectations and satisfaction of employees is measured at two-year intervals with a work satisfaction survey of personnel.
Results of 2014 corporate image survey
The corporate image survey conducted in 2014 indicated favourable improvement in the company’s image. On a scale of 1-5, the company achieved an overall rating of 3.8.
The survey results indicate that FII’s financing has often played a decisive role in implementing projects. The company received a particularly high rating for its knowhow in financing, expertise in good corporate governance, and for its reliability as a partner in cooperation. Respondents stated that Finnish Industry Investment was the best known state-owned player in the private equity and venture capital industry, and a clear majority of respondents said they could recommend FII.