What does social sustainability mean, and how can your company actively engage with it?
Social factors have many facets, allowing companies to address them in various ways. Some focus on providing quality training for apprentices, others ensure good physical and mental working conditions, and some offer paid volunteer days for charitable causes. These are all examples of how a company can work with social issues.
What is Social Sustainability and How Can Your Company Address It?
According to the UN Global Compact's 10 principles, social sustainability generally involves human rights and labor rights. This means that your company should, among other things, ensure that it does not contribute to human rights violations, and that it upholds the freedom of association and recognizes workers' rights to collective bargaining.
Beyond focusing on your company’s own social sustainability, it’s also beneficial to assess the social sustainability practices throughout your entire value chain. It’s crucial to understand how your suppliers perform, as there are significant risks associated with a company's value chain, such as potential legal violations or unethical behavior that could negatively impact your business.
Are you ensuring equal treatment of all employees, regardless of race, gender, sexual orientation, or religion? Have you confirmed whether your suppliers allow their employees the freedom to join unions and are covered by relevant labor agreements? What percentage of senior management positions in your company are held by women? These are some of the questions company leaders can ask when addressing social issues.
Both these questions and others are included in Valified's questionnaire, which can help you reflect on how your company can work with social issues.
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