Stakeholder Engagement Report
This statement is intended by the Directors to set out how they have approached and met their responsibilities under s172 of Companies Act 2006 in the financial period ending 31st December 2020.
Leadership Team & Shareholders
The Osprey Europe Board considered both the short term impact of the covid pandemic on the business in conjunction with long term strategic considerations. In 2020, fiscal plans in particular were given additional consideration, resource and scrutiny to ensure the business is in good health in both the short and long term.
The Leadership Team conducted bi-annual Future Planning Meetings which operated in conjunction with global goals and strategy. Annual Roadmaps are drawn up detailing how each Department will achieve its goals for the subsequent year and 3+ years ahead. These feed into Osprey Packs Inc. strategy and fiscal goals. Quarterly Strategy Reviews (QSRs) have been put in place for the Leadership Team to review existing plans and plan ahead.
Annual business and departmental goals are cascaded to relevant internal management stakeholders to ensure consistency and transparency throughout the business. We encourage positive, clear and transparent communication between colleagues.
An emphasis on enabling communication with modern systems, team member communication and employee retention was the focus in this area for 2020. The board requested and approved employee engagement plans and technical system investment.
Osprey Packs Inc. (OPI)
Engagement and open communication with our parent company is facilitated throughout each department with regular contact, be that via email, video messaging or personal visits to Osprey locations. Microsoft Teams is widely used which aids clear and frequent cross-continent communication.
Communication is open and a bi – weekly Company Update is sent out for dissemination to all managers. Quarterly meetings are held to provide high level detail to all employees on how the Company is performing. Annual roadmaps are cascaded down from the Leadership Team to the wider organisation to ensure that everyone knows the Company’s goals and what part they have to play in achieving them.
Sharepoint has been introduced during 2020 to enhance communication between different business locations and keep everyone informed and updated on any company news
In January 2020 the company launched its new Mission, Vision & Values and carried out workshops with team members to bring them to life and integrate them into the company’s ethos. The company’s intranet system was launched in Q1 to improve internal communication, help team members find information and encourage knowledge sharing between departments and across locations and time zones.
In March 2020 all team members who could work from home were provided with equipment and the company carried out a remote working survey in July to acquire feedback on how team members were being managed, identify technology challenges or limitations and to obtain general feedback on experiences of working from home.
Quarterly company meetings commenced being held via Teams to keep team members updated to the company’s progress and additional global company meetings with the US commenced.
Flexible lunch times were introduced for all team members to allow them additional time during the day to get outside in the daylight and enjoy some exercise to promote better wellbeing during the winter months.
Dorset Mind provided a talk on Mental Health in December for all team members to help them recognise the symptoms of burnout and practice steps to wellbeing.
Training & Development
The Company provides learning opportunities including soft skills training, technical based training and online training. Goal setting, quarterly 1-2-1s and annual appraisal programmes are established to facilitate increased performance.
Our Employee Handbook policies help foster the standards we expect to be maintained throughout the Company and policies are updated and communicated, as required.
The board always seeks to place community, in all its forms, at the heart of the business. Our products are designed to be used by all types of people in amazing environments around the world. Initiatives were put in place to both protect these environments but also enable wider communities to experience our products in the outdoors including community groups who otherwise may not have the same opportunities as everyone else.
Tax Contribution and Compliance
We are highly committed to paying our fair share of tax, whether that be Corporation Tax, PAYE and National Insurance or VAT. As a company that trades across the whole of Europe, we are VAT registered in 10 countries including the UK and pay VAT at the local rate in 9 European countries. This illustrates our commitment to paying our way towards National and European services.
Osprey aim to balance wider charitable giving and large scale projects against community projects that have a direct impact to local groups. In 2020 Osprey strengthened its partnership with Gift Your Gear and Gear for Good; these charities continue to provide outdoor gear to inner city youth organisations and charities, empowering the young to experience the outdoors. Alongside this, Osprey also sent packs to the Osprey Explorer Scout unit & a local charity for ex-service men & women. In total in 2020 we donated 663 packs to charity.
In 2020 Osprey reconfirmed its long standing membership with our environmental charity partner, EOCA, who continue to champion the conservation of the great outdoors. For Green Friday, Osprey donated 20% of our sales for Black Friday promotional period (€6,785.28) to EOCA to help fund a plastic free outdoors across the globe; in total, EOCA raised an astonishing €57,000 from this initiative.
In addition to EOCA, Osprey continued to support Birds of Poole Harbour who tirelessly look to raise the profile of bird conservation, observation and education in and around Dorset. We were exceptionally excited to partner with them on the Osprey Translocation Project which aims to restore the breeding population of these charismatic birds of prey to the South Coast.
Osprey were proud to support local businessmen, Ty & Ben, plus, fitness coach Jamie, as they sought to raise awareness and funds for the local mental health charity Dorset Mind by taking on the Step Up Challenge – completing 1 million steps. In 50 days they successfully completed the challenge and raised over £37,000 for the charity. Osprey were proud to able to support them through this epic endeavour and between 8 employees managed to walk over 4.1m steps ourselves.
In September, Osprey also joined forces with Rock 2 Recovery as team members and charity supporters walked 36 KM along the Jurassic Coast alongside Osprey Ambassadors. The event’s goal was to raise much needed funds for the organisation; allowing them to continue to support and change the lives of vulnerable frontline service personnel.
In 2020 Osprey continued to expand its sustainable product offering with a number of new lines fulfilling the promises for sustainable fabrics and greener chemistry.
Many new products launched in 2020 which featured 100% recycled fabrics and PFC-Free DWR coating chemistry. Other products launched including sustainably sourced hemp, post-consumer recycled plastic bottles and, in an industry first, innovative recycled Robic Nylons.
By the end of 2020, we had also achieved our packaging goals of only using 100% recycled packaging bags and recycled and FSC certified paper. Osprey are also working hard to reduce packaging use wherever possible.
Looking forward, Osprey’s goal is for 75%+ of fabrics will use recycled content by 2023, by which time Osprey also plan to be entirely PFC-free. Osprey are also focusing on becoming a full Bluesign systems partner; anticipating that this will happen before the end of 2021.
Paired with the product offering is Osprey CSR strategy, including the previously discussed charitable offering involving environmental and sustainability projects such as the Osprey Reintroduction Project and the EOCA Mountain Wilderness Project.
Osprey are taking the time to found and promote a circular economy where possible. Our All Mighty Guarantee repair programme helps to revive worn or damaged packs, while the SecondLife programme ensures repaired and pre-loved packs can be taken on more adventures by a new owner.
Finally, it’s important to remember that Osprey’s sustainability project is an ongoing venture, where there will always be improvements to be made. In 2021 Osprey will begin efforts to reduce greenhouse gas emissions as a member of the EOG/OIA Climate Corp, with the ultimate goal of becoming Climate Neutral. Osprey have also begun the Brand module of the Higg Index to accurately measure and reduce our environmental impact.
Osprey will constantly progress with our goal of leading the industry as the most progressive, transparent and sustainable hardgoods brand in the outdoor industry.
As an international brand our promise is that we will always endeavor to tackle modern slavery in all its forms. Our internal Code of Conduct and Factory Code of Conduct are consistently reviewed and referenced by the board when making key supply decisions.
Preventing Modern Slavery
The Company acknowledges its responsibilities to tackling modern slavery and human trafficking and commits to complying with the provisions in the Modern Slavery Act 2015. The Company and Parent Company understands that this requires an ongoing review of both its internal policies and practices in relation to its workforce and, additionally, its supply chains. The Company’s Code of Conduct reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains.