Accountability - the ability of people to understand what is expected of them, exercise authority, and take responsibility for delivering results - is an important dimension of organizational health. Of course, some companies are better at fostering it than others.
Section 54 of the Modern Slavery Act 2015 has come into force in English law. The U.K. government has issued a practical guide on the section saying the measure is designed to create a level playing field between those businesses, whose turnover is over a certain threshold, which act responsibly and those that need to change their policies and practices.
It's easy to scoff at the anti-free-trade rhetoric emanating from the U.S. presidential campaign trail. Donald Trump keeps yelling about China, Mexico and Japan. Bernie Sanders won't stop shouting about greedy multinational corporations. Hillary Clinton, Ted Cruz and John Kasich are awkwardly leaning in the same direction. If you're a typical pro-trade business executive, you're tempted to ask: Were these people throwing Frisbees on the quad during Econ 101?
The transportation and warehousing industry suffered more than 95,000 industrial accidents and illnesses in 2014, according to the Bureau of Labor Statistics of the U.S. Department of Labor. That works out to 225 per 10,000 workers - one of the highest rates of any industry. Most estimates put the annual cost of workplace injuries at more than $50bn, so it makes sense from a business as well as a moral point of view to make safety a priority. The following are some proven ways to increase safety.
Analyst Insight: By 2025, issues such as globalization, social transparency, risk management and sustainability will bring new challenges to all the best procurement organizations around the world. For diverse suppliers, these changes will pose new challenges, while bringing new opportunities for those with a vision for the future. - Angie Li, Partner; Curtis Simpson, Manager; Kirsty A. McNally, Manager, all with Advisory Services of Ernst & Young LLP
Analyst Insight: Labor costs are rising just as the availability of workers is shrinking and turnover is increasing. According to the Census Bureau, 60 million Baby Boomers will exit the workforce by 2025, but only 40 million new workers will enter. Companies must rethink how they bridge that gap and keep costs in-line. Many life sciences companies are reaching a scale where investments in automation help replace manual, labor-intensive operations. But companies must be careful in evaluating automation investments. - Roger Counihan, Life Sciences Industry Leader, Fortna Inc.
It is the human rights abuse that everybody likes to maintain is not happening. But within corporate supply chains across the developing world – from the cocoa-growing lands of the Ivory Coast to the seafood sector of Thailand – human trafficking and modern day slavery is still commonplace, with people being made to work and live in appalling conditions with little or no pay.
Two new reports released this week call attention to the dangers of bribery and corruption in global supply chains and their links to modern day slavery. Modern Slavery and Corruption and An Exploratory Study on the Role of Corruption in International Labour Migration provide a snapshot of the extent and global spread of corrupt practices, the ways in which they interact with myriad forms of exploitation and the impact of legislation put in place to curb both.
