MATERIALITY
The Company’s reputation and successful business growth depend on the value it creates for its stakeholders, the community, and its sustainability. To ensure this, it is imperative to understand what is important and relevant to us in terms of sustainability within the business context. Hence, materiality is an exercise conducted to assess the most important issues and opportunities the Company should address to drive a sustainable business.
At Happiest Minds, materiality assessment is a critical process to identify and prioritize the most pertinent issues that are material to the Company and its stakeholders. The identified material issues are analyzed for potential impact on the business and stakeholders and then classified as risks and opportunities based on severity. If a material issue is identified as a risk, countermeasures are developed to mitigate and averse the impact, make use of the opportunity, and engage with concerned stakeholders. Conversely, if it is classified as an opportunity, strategies are developed to capitalize on the opportunities while engaging with relevant stakeholders.
