How can you build a diverse network of external stakeholders?

As an HR professional, you know the importance of building strong relationships with external stakeholders, such as clients, suppliers, partners, regulators, and industry associations. But how can you ensure that your network is diverse and inclusive, reflecting the values and goals of your organization and the communities you serve? In this article, we will share some tips on how to build a diverse network of external stakeholders, and how to leverage it for mutual benefit and growth.

1 Identify your objectives

Before you start reaching out to potential external stakeholders, you need to have a clear idea of what you want to achieve from the collaboration. Do you want to learn from their best practices, share your expertise, create new opportunities, or solve common challenges? Having a specific and realistic objective will help you identify the right stakeholders to connect with, and tailor your communication and engagement strategies accordingly.

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Nicholas W.

Human Resources Director @ Poly-clip System USA
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When we think diversity; we tend to think in terms of color and gender. In order to truly understand the landscape we need to expand our understanding of diversity and be, well, more inclusive. We need to identify people who come from different regions of the country and world, varying colleges and not just those that are marquee but trade schools and public schools. Personally, I like people who are gritty and come from economically blighted backgrounds. Diversity of thought is critical to delivering a customer experience that exceeds expectations and that can only be done when it’s representative in whole of experiences.

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2 Research your stakeholders

Once you have a list of potential external stakeholders, you need to do some background research on them. What are their values, mission, vision, and goals? What are their strengths, weaknesses, opportunities, and threats? What are their expectations and needs from you and your organization? How do they prefer to communicate and interact? Doing your homework will help you understand their perspective, interests, and motivations, and avoid any potential conflicts or misunderstandings.

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3 Reach out and build rapport

The next step is to initiate contact and establish a rapport with your external stakeholders. You can use various channels, such as email, phone, social media, or events, to introduce yourself and your organization, and express your interest in collaborating with them. Be respectful, polite, and professional, but also friendly and authentic. Show genuine curiosity and appreciation for their work, and ask open-ended questions to learn more about them. Listen actively and empathetically, and share relevant information about yourself and your organization.

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4 Maintain and nurture the relationship

Building a diverse network of external stakeholders is not a one-time event, but a continuous process that requires regular communication and follow-up. You need to maintain and nurture the relationship by providing value, feedback, support, and recognition. You can also seek opportunities to collaborate on projects, events, or initiatives that align with your mutual objectives and interests. Be flexible, adaptable, and responsive to their needs and preferences, and respect their boundaries and limitations. Celebrate your achievements and successes together, and acknowledge your challenges and learnings.

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Wing Commander Sonika Tanwar (Veteran )

CXO|Military Leader| Ex-Amazon| Quantum Cryptography | Information Security Professional| Tedx Speaker| Public speaker| Executive Leadership coach| Mentor| Delhi Chair for G-100 Space & Technology Wing
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When I took over command of a military signal unit, a senior once imparted a profound insight: when you assume a leadership role, you possess the power to influence and impact lives. This wisdom applies not only to internal relationships but extends to external stakeholders as well. Nurturing these connections is not just a duty; it's an opportunity to create lasting, positive change. As leaders, we must recognize the ripple effect our relationships can have and invest in them wisely, fostering bonds that contribute to a more diverse and dynamic network of stakeholders. The relationships nurtured will go a long way for self and organizational growth.

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5 Evaluate and improve the relationship

Finally, you need to evaluate and improve the relationship with your external stakeholders on a periodic basis. You can use various methods, such as surveys, interviews, or meetings, to solicit their feedback and opinions on the collaboration. You can also measure the outcomes and impact of the relationship using quantitative and qualitative indicators. Based on the results, you can identify the strengths and weaknesses of the relationship, and plan for improvement actions. You can also explore new ways to enhance the diversity and inclusivity of your network, and expand it to include more stakeholders from different backgrounds, sectors, and perspectives.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you build a diverse network of external stakeholders?

1

2

3

4

5

6

1 Identify your objectives

2 Research your stakeholders

3 Reach out and build rapport

4 Maintain and nurture the relationship

5 Evaluate and improve the relationship

6 Here’s what else to consider

HR Operations

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How can you build a diverse network of external stakeholders?

1

2

3

4

5

6

1 Identify your objectives

2 Research your stakeholders

3 Reach out and build rapport

4 Maintain and nurture the relationship

5 Evaluate and improve the relationship

6 Here’s what else to consider

HR Operations

Rate this article

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