In today’s business environment, social standards are strategic imperatives. Customers, investors, regulators, and employees expect companies to operate responsibly across all social dimensions. Ignoring these expectations puts businesses at risk of reputational damage, legal penalties, and loss of competitive advantage.
At EkoElevate, we help companies navigate this complex landscape. Understanding and implementing robust social standards is critical to building trust, managing risk, and creating long-term value.
This article provides a snapshot of the key social standards companies should consider, with practical insights on how to embed them into your business operations.
What Are Social Standards?
Social standards are frameworks, principles, or guidelines that define how businesses should treat people (employees, communities, suppliers, and customers) in a fair, ethical, and transparent way.
They cover areas such as labor rights, human rights, diversity and inclusion, health and safety, community engagement, and responsible sourcing.
Adherence to social standards helps companies mitigate risks related to labor abuses, discrimination, unsafe working conditions, and negative community impacts – all of which can undermine long-term business success.
Key Social Standards Businesses Should Consider
- International Labour Organization (ILO) Core Conventions
The ILO’s core conventions establish fundamental labor rights, including:
- Freedom of association and collective bargaining
- Elimination of forced labor and child labor
- Non-discrimination in employment
- Safe and healthy working conditions
Complying with these conventions is essential not only for legal and ethical reasons but also for maintaining workforce productivity and brand integrity.
- United Nations Guiding Principles on Business and Human Rights (UNGPs)
The UNGPs provide a global framework for businesses to respect human rights, avoid harm, and provide remedies when rights are violated.
Key components include:
- Conducting human rights due diligence
- Integrating respect for human rights into policies and practices
- Engaging stakeholders transparently
- Providing grievance mechanisms
Embedding the UNGPs helps companies manage complex risks in their operations and supply chains, particularly in high-risk regions.
- OECD Guidelines for Multinational Enterprises
These guidelines cover responsible business conduct, including social aspects like:
- Labor rights
- Human rights
- Stakeholder engagement
- Anti-corruption
They offer practical recommendations for due diligence and reporting, aligning business conduct with international expectations.
- Social Accountability International (SA8000)
SA8000 is a widely recognized certification standard focused specifically on workplace social accountability, covering:
- Child labor
- Forced labor
- Health and safety
- Discrimination
- Working hours and wages
- Freedom of association
Certification signals to stakeholders that a company meets stringent social compliance standards throughout its supply chain.
- Industry-Specific Standards and Codes
Certain sectors have tailored social standards, for example:
- The Ethical Trading Initiative (ETI) in retail
- The Fair Labor Association (FLA) for apparel and footwear
- Extractive Industries Transparency Initiative (EITI) for mining and oil
- Global Reporting Initiative (GRI) social disclosures for broad sustainability reporting
Knowing which apply to your sector is critical to managing expectations and regulatory compliance.
Why Social Standards Matter for Your Business
Risk Management
Failing to meet social standards can lead to labor strikes, lawsuits, supply chain disruptions, or boycotts – all of which damage profitability and reputation.
Regulatory Compliance
Many jurisdictions are tightening regulations around labor rights, human rights due diligence, and reporting, including the EU’s Corporate Sustainability Reporting Directive (CSRD) and the UK’s Modern Slavery Act.
Stakeholder Trust
Investors, customers, and employees increasingly demand transparency and accountability for social issues. Meeting recognized standards builds trust and loyalty.
Access to Markets and Capital
Adherence to social standards is often a prerequisite for doing business with multinational corporations, government contracts, or accessing ESG-linked financing.
How EkoElevate Helps You Embed Social Standards
Implementing social standards is complex, as it requires understanding global frameworks, mapping risks, engaging stakeholders, and embedding processes.
At EkoElevate, we offer practical, hands-on support including:
- Social Risk Assessments: Identify and prioritize social risks across your operations and supply chains.
- Policy Development: Craft clear, aligned social responsibility policies and codes of conduct.
- Due Diligence & Audits: Design and implement human rights and labor due diligence processes.
- Training & Capacity Building: Equip your teams and suppliers with knowledge and tools to meet social standards.
- Reporting & Transparency: Support compliance with evolving social reporting regulations and standards.
Our approach is tailored, pragmatic, and focused on creating lasting impact – helping you elevate with purpose.
Ready to strengthen your social impact? Get in touch!
