1. How have we brought our purpose to life?
Part of our company challenge is to bring our purpose to each of our stakeholder groups and demonstrate its value – how our values and purpose are congruent.
Molymet seeks balance between economic, social and environmental performance. We build transparent, lasting connections with our stakeholders. We know that the stability and success of Molymet depends on how we impact and interact with them.
How do we add value to our Employees?
At Molymet our people are at the heart of what we do and we offer them every chance to grow professionally, to learn new skills, to work internationally and to be part of a work environment that is rewarding and purpose-driven. This is why we attract and keep top talent.
How do we add value to our shareholders?
Our shareholders trust us to constantly seek excellence in the work we do and deliver top results. They trust us to manage risks and have sustainable governance in place.
How do we add value to our suppliers?
Our suppliers make our operations possible and we deal fairly with each of them, regardless of their size and scale. Our challenge is to steer our suppliers towards the development and implementation of sustainable management in their own businesses. To this end we sensitize them to our purpose and help them to develop a clean supply chain.
How do we add value to our clients?
Just as we are concerned about having a clean supply chain, our customers are too. They too are taking a close look at which suppliers they partner with.
For us, this presents an opportunity not only to constantly improve our products but also to share our circular economy progress and cost-saving technology.
How do we add value to our communities?
We have close, mutually-beneficial relationships with communities in all the countries where we operate. Open conversations enable us to understand their needs, expectations and concerns and act on them.
How do we add value to the environment?
We view the environment as an interrelated system of natural and man-made elements which can be affected by what our company does. We are always looking at ways to do more with less, cutting down on the natural resources we use, reducing negative impacts and demonstrating leadership in our industry.
How do we add value to the Authoritities?
We have a track record of strict compliance with regulations in every country where we operate. Throughout our 2021 report you will see how our environmental initiatives go far beyond simply complying with minimum requirements.
Some figures showing our positive impact on stakeholders
Clients
Communities
Employees
Shareholders
2. The journey to where we are today
At Molymet we have nearly 50 years industry experience. This is backed by a long-term vision and a consistent strategic approach in the daily work of the company’s different subsidiaries around the world.
We are open to change and to breaking our own paradigms. We are open to new ideas that inspire us to continue our success. We stay close to the essence of who we are while evolving within the new contexts and challenges we are faced with.
This journey led to the co-construction of our corporate purpose – a collaborative process that gave deeper meaning to everything we do in contributing to the transformation the world needs to make industries and technologies more sustainable and people better off.
We want to play our part in leaving behind a much more sustainable world for the generations that will follow us and those who will lead Molymet in the future.
In this sense, our story, our market leadership, our fundamental values and our continued success are brought together through our collective purpose.
Over time, with careful reflection, this is the purpose that was defined to guide us through the years ahead:
“To create value for the evolution of humanity, through products developed by people who think about the well-being of the planet.”
Our purpose gives meaning not only to our business, but to every decision we make and above all, to the role we play in society. It is a clear statement about sustainable development that goes beyond the environment. It also means we will take good care of our resources, assuring their availability and it highlights how we want to be agents for the transformation and wellbeing of people.
Our purpose guides the way we want to be recognized in each interaction with our different stakeholders. It gives us a framework for strategies, projects and initiatives.
It is a purpose that echoes the voices and ideas of all our employees who put careful time and thought into developing it and bringing it alive.
Everyone made a contribution to defining what characterizes us and what sets us apart. Most of all, our purpose expresses our lived belief that we want to be a company that makes a lasting difference over time.
With support from ICARE, we conducted a training program for our leaders to foster leadership that leverages purpose across Molymet and its subsidiaries.
Our internal communication was designed to help all our people get to know our purpose and the meaning it has for their work. Later we began to demonstrate the link between our purpose and our projects. This steadily gave form to the company we want to be in the future and the role our people play in the transformation.
In our external communication during 2021, we worked closely with mainstream and social media to build awareness of our purpose and share it with municipalities and communities, in this way, positively positioning Molymet and its subsidiaries.
Over the years, Molymet has tended to be modest about its accomplishments but 2021 represented a new level of exposure for our brand and reputation. Our purpose journey has been covered by top mainstream media like El Mercurio, La Tercera, Diario Financiero and the magazine Minería Chilena. As awareness grew this in turn led to interest from other media outlets.
Looking to the future
During 2022, we will continue to discuss and align our purpose with our strategic agenda and build in key purpose indicators.
In this way, we want our purpose to come to life through different activities and strategies that together aim to create value for the evolution of humanity.
Our business decisions are increasingly based on considering the planet and we have concrete examples of how we have contributed to the development and well-being of all our stakeholders.
3. Our purpose was born from our leadership and shared among every one of us
We are conscious thatpersonifying purpose and situating it within our organization depends largely on our leaders and their role has been fundamental in leading our people through the discovering and articulation of our purpose.
In 2018 , Led by our CEO and the HR VP, we began co-constructing a company purpose, engaging all our employees around the topic and listening to their opinions.
Once our purpose was ready for sharing, our influencers went through training to have the tools to share our purpose across the company and link it to the work that they and their colleagues do every day.
In 2020 and 2021 with support from consultants: The Purpose Institute and ICARE, our leaders participated in training workshops aimed at transforming Molymet through a purpose that everyone could embrace and live. We explored what purpose means, what the best practices are, how purpose influences the decisions we make, how it makes us more accountable and how purpose can give employees a sense of belonging. We also considered the role of purpose in finding and keeping the best talent.
Hours of training and workshops:
4. Influencers, who inspire the lived experience of our purpose
After an intensive process involving our corporate and subsidiary employees we got to the point where we were able to define our purpose and start sharing it.
40 Molymet employees responded to the call to serve as influencers and participated in a training program specially designed for them.
The aim was to equip them with the best tools and training to inspire their colleagues, share experiences that have personal and professional meaning and show how purpose plays out in the work we do and the decisions we make.
Influencer-led conversations facilitated reflection on what it means to be part of Molymet and this has strengthened a sense of belonging.
Their mission is to:
- Represent and share Molymet’s purpose.
- Lead conversations about purpose.
- Bring together information about purpose activities and actions and share with colleagues at work.
Testimonials:
"Today we want to belong to companies that look after the present and the future. It is also important to feel a sense of belonging and identification, to be part of a company where interests are shared.
“We are all part of the same chain and we need to be closely linked to fulfill our purpose – a purpose that reminds us how important each of us are in the chain.”
“It’s essential to be aligned with the purpose an understand that each one of our actions contributes in different ways to fulfilling our own purpose.”
Today we have a common purpose that commits us to solid, sustainable values, innovation and excellence as outlined in our strategic agenda, always with our people at the center.
The positive transformations that we seek to generate in everything we do is the basis for a better planet.
"Our purpose is the company's raison d'être. The reason why each one of us is here. Everything we do as a company flows from our purpose."
“For me it was really important to listen to the rest of mu colleagues. Our conversations were enriching and valuable. Not all companies are so concerned about the opinions of their employees.”
In some way and without knowing it, we have always applied the purpose in our work. But since we started this conversation, I have been gradually changing certain practices to better apply the purpose to my work."
"The training we had and my role as an influencer have helped me to live the purpose, to apply it in my role and reflect on it with my colleagues. "
Consistent Communication
We implemented an internal corporate communication plan that could be customized by our overseas subsidiaries. It incorporated both Spanish and English language messaging to connect our purpose with our updated Molymet brand. Executives spoke about purpose, making their role in the process more visible. We created a range of audio-visual material, covered the activities of our CEO and positioned our employer brand.
Then, with support from consulting firms, The Purpose Institute (2020) and ICARE (2021), our CEO and the Corporate VP of HR & Communication led the process of consolidating our purpose internally. This had the full backing of the board and senior leaders.
“The support of our influencers is essential to broaden the scope of the purpose in all subsidiaries. The initiative has been developing within the established program, starting with the talks and the subsequent implementation of the corresponding communication plan.” Álvaro Toro, MolymetNos.
Our CEO, John Graell spoke about Mobilizing Conversations at Acción Empresas, highlighting the importance of purpose and new business challenges.
