Modern Slavery in Business Essay

Modern slavery can be seen all around our environment. Individuals are entrapped working in factories, serving our food, working in houses as nannies, cleaners, or making our clothes.

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Defining modern slavery in business

Modern slavery in business is severe labor exploitation of individuals working in the organization for commercial and personal gains.

The owners of Modern slavery are top managers and employers.

It includes bonded labor, compulsory, and forced labor. and human trafficking.

Instances where modern slavery can flourish

Corporate practices and business operations offering shorter lead times and driving for lower prices often increase the risk of workers exploitation.

•  Conflict zones 
•  Minimum protection to workers due to inadequate laws, rules, and regulations
•  Poor Government and business accountability and nonexistent or weaker enforcement laws
•  Discrimination against particular types of workers such as ethnic groups and women
• Widespread misuse of casual and migrant workers
• In high-risk industries especially in specific raw material industry

How modern slavery can impact the business?

Around 45 million people and workers are the prime victims of modern slavery worldwide.

To ensure sustainable organizational practices it is becoming important for business areas to tackle modern slavery.

• The reputational damage that a firm can face if exposed to practicing slavery
• Companies can lose market share and consumer confidence if they or their sourcing from suppliers are found using or practicing exploitative labor
• Organizations might face legal proceedings if their employees or suppliers are found involved in illegal conduct or misusing corporate governance and ethics
• Facing ethical problems if a brand is found to be associated with bonded labor practices and selling it as its USP.

Keyways adopted by Business to alleviate slavery

Many companies such as The famous Coca-Cola Company, Google, Amazon, Microsoft, and others have come together to combat these modern slavery practices in an effective way.

• Business must provide support to modern slavery survivors by providing job skills training and employment opportunities 
• Providing guidance and resources to the organizations to adopt tools and training methodologies to become an anti-slavery organization
• Provide effective channels to workers to raise their grievance and concerns while at work
• Conducting a hot spot analysis of your organization operations and business areas if dealing with modern slavery
• Effective leadership in the company can make a huge difference.
• Developing sustainable solutions to address modern slavery and recognizing workers rights
• Following acts and regulations formed by the government to deal with slavery
• Work with NGOs, trade unions, and other special groups to address slavery risks prevailing in the firm.
• Devising optimum strategies to tackle these kinds of labor activities and conducting traditional audits to detect slavery and forced labor.
• About maximum transparency in the organizational structure and business areas and adopt due diligence processes to make sure of the track reports of labor risk areas.

Regulations and acts adopted to remove modern slavery

• The International Labour Organisation (ILO) – it is an agency set up by the United Nations (UN) to enhance social protection, promote right at work, or work-related issues, and encourage employment opportunities. 
• The employment act of Singapore provides basic working conditions for all employees and has fixed working hours for the employees.
• The Singapore employment act governs the relationship between employees and the employer working in the organization.
• The labor law of Singapore includes statutory protection of employment rights such as maternity leave, the formation of trade unions, and employee privacy.
• The department of labor in Singapore will combat the use of forced labor and child labor in the organization.
• The GBCAT (Global Business coalition against human trafficking) is an initiative adopted to reduce modern slavery incidences to support the survivors and to harness the business powers.

Conclusion

October 18th every year is celebrated as anti-slavery day. Millions of people are still enslaved worldwide. The organization attracts customers with faster production in limited periods and providing low prices increases the likelihood of labor exploitation.

Organizations must abide by United Nations principles on human rights.

They must ensure that their business activities do not contribute or cause harming Human Rights in any way.

Companies are expected to take the necessary actions to address and identify modern slavery risks.

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