The information within this report covers topics based on GRI indicators and relevancy to our business and our stakeholders. To select content, we assessed key issues in our industry and engaged with stakeholders to understand their concerns, questions and feedback. This dialogue gives us a picture of future topics of interest to our stakeholder groups and helps us understand which issues to anticipate or address and which questions we can help answer. We engage with stakeholders who have an active role or stake in our business, as well as those who help us improve as a company and are looking to engage in constructive dialogue.

In determing which information to report, we conducted a process to identify topics based on the interest of our stakeholders — a group that includes employees, customers, consumers, investors, suppliers, government officials and communities.

The analysis included interviews, SRI (socially responsible investor) inquiries/questionnaires, meetings, conferences and media coverage, by which we determined the main topics of interest to stakeholders. From there, we prioritized the topics based on their importance to the business.

View the materiality matrix for the results of our analysis.

Employees (current, prospective, and retired)
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Biennial engagement survey Company information Include benefits information in materials for employees and in our Corporate Responsibility Report Improved safety
Intranet (daily) Strategic vision, employee and retiree benefits Measure and include safety and demographic data in our Corporate Responsibility Report Increased employee retention, engagement
Monthly location-specific newsletters and companywide magazine (Inside Hormel Foods) Compensation Hold annual Road Show meetings to help communicate the vision to employees at all levels Improved communication of company vision and motivated employees
Annual town hall meetings with the CEO and senior executives at various plants Diversity   Community support and retiree engagement/involvement
Departmental meetings (ongoing) Employee safety    
Annual performance reviews Community outreach    
Ongoing recruitment tours (college campuses, job fairs)      
Ongoing taste tests      
Retailers
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Conferences (ongoing) Food safety Integrate customer feedback into product development Increased understanding of the business and practices
One-on-one meetings (ongoing) Healthy food Provide relevant information through Responsibility Post newsletters Demonstration of our best practices
Facility and farm tours (ongoing) Food prices Respond to questionnaires Identification of risks and opportunities
Sales meetings (ongoing) Animal care Connect customers with internal experts Development of retailer relationships
Questionnaires (ongoing) Environment    
Suppliers
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
One-on-one meetings (ongoing) Standards required to remain/become a supplier of Hormel Foods Created Supplier Responsibility Principles Improvement of quality from suppliers
Supplier Quality Management System (ongoing)   Recognize top suppliers through annual awards More accountability for suppliers
Supplier site tours (ongoing)   Participate in ongoing dialogue Improvement of supplier relations
Supplier site audits (ongoing)     Improvement of supply base
Investors/Analysts
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Rankings, questionnaires (annually) New product development Respond to multiple questionnaires or verification of data from analysts compiling rankings and indices Correct information
One-on-one meetings (ongoing) Food prices   Benchmark data
  Commodity costs    
  Code of ethics    
  Governance    
  Environmental impact    
Consumers
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Consumer hotline (daily) Food safety Answer questions through hotline, Twitter handles Improve consumer loyalty
Consumer research (ongoing) Healthy food Provide more proactive information and take suggestions Correction of misinformation
Social media (daily) Food prices   Helpful suggestions for how to improve our business
Websites (daily)     Better understanding of our consumers’ concerns and likes to help provide the best products on the market
Government
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
One-on-one meetings with members of Congress and staff, regulatory agencies (ongoing) Commodity costs Updates to management on key issues Better understanding of our practices and processes
Public forums via panels (ongoing) Animal care Engage in ongoing dialogues on these issues Communication of our culture, commitment to community and impact we have on the industry and in communities
Plant tours for elected officials (ongoing) Food safety   Positive business policies
Engagement in associations, subcommittees (ongoing) Local community concerns    
Reports and regulatory filings (ongoing) Regulatory climate    
Hormel Political Action Committee (ongoing)      
Philanthropic Partners
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Charitable Trust Committee (quarterly) Hunger relief in local communities where we have operations Developed more formal hunger and community giving strategy Formal hunger strategy
Conferences (ongoing)   Provide resources to plant managers to give to local hunger-relief efforts Employee engagement
Disaster response, matching gifts (ongoing)   Engage in social media to support partners Community involvement
Plant community donations (ongoing)     Relationship building in communities
One-on-one meetings and visits (ongoing)      
NGOs
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Annual meetings with the Consumer Federation of America Animal care Consider topics raised in our reporting and operating practices Improved two-way conversation about industry and business practices
Biannual meetings with Interfaith Center on Corporate Responsibility (ICCR) Water Maintain ongoing dialogue to incorporate a variety of changes to business practices and explain business practices Identification of risks to the business or larger issues in the industry
  Standards for suppliers    
  Human rights    
  Cost of rising food prices    
  Global food system    
  Food safety    
Communities
Communities where manufacturing facilities are located, and international communities suffering from malnutrition
How Hormel Foods engagesStakeholder interestsHow we respond to their interestsOngoing results of engagement
Representation and participation in community organizations (meetings, volunteering) (ongoing) Community involvement Hold meetings to discuss local concerns Relationship building in communities
Sponsorships (ongoing) Philanthropy Invest in community infrastructure Employee engagement
Plant community donations (ongoing) Environmental impact from operations Discuss food safety and health and nutrition during trips to Guatemala Positive corporate reputation
Community events (ongoing)   Developed product to address malnutrition in children internationally Large number of community groups engaged
Local media relations (ongoing)      
Visits to Guatemala (several times per year)      

In addition, Hormel Foods participates in an advisory group commenting on a Global Social Compliance Programme (GSCP) from The Consumer Goods Forum. Through the GSCP, our company and our fellow members have the opportunity to leverage our efforts to increase the impact of our responsible sourcing programs, achieve greater scale and advance the industry as a whole, boosting supplier and manufacturing/farm development across the board. We decided to actively engage in the development of its framework and contribute to building the GSCP reference tools and processes. Their fundamental aim is to provide a common interpretation of working and environmental requirements across geographies and sectors.