2) How can the VOICE method encourage asset managers to improve their practices and shift towards a focus on quality rather than quantity? What should be done if clients wish to maintain a more ‘quantitative’ approach?

The method was developed in response to an observation: engagement practices are currently not sufficiently standardised, sometimes leading to engagement reporting that focuses on quantity rather than quality. In this context, the VOICE method provides tools to help shift the focus towards quality: engagement must include one or more formalised objectives that are monitored over time, and the request must be substantiated and contain an explicit expectation of interaction with the company on the issue. Furthermore, through the proposed influence scale in particular, the VOICE method enables the resources allocated to be accounted for in relation to the results achieved. It therefore provides an opportunity for the engagers to explain, beyond the mere number of engagements, the effectiveness of their engagements. It is also important to clearly distinguish between dialogues (particularly those aimed at gathering existing information) and engagement.

As the VOICE method provides for several levels of objectives (transparency, operational and strategic) and levels of influence (no influence to recognised influence), it does not prevent organisations from making a significant number of engagements if the approach adopted by the engager places importance on the quantity of engagements made.

In summary, VOICE aims 1/ to facilitate the comparability of engagement reporting by harmonising definitions and accounting scales (e.g. influence measured at the level of the engagement’s objective), and 2/ to highlight the resources allocated in relation to the results achieved.

French SIF
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