6 important things companies need to do to be inclusive

6 important things companies need to do to be inclusive

Corporate social responsibility is passé. Responsible business is the new catchphrase. Here are the six most important steps companies need to take to become inclusive in every aspect of their business, and the reasons they’re in the companies’ interest.

1. Invest in fresh talent. Only 2% of India’s workforce is skilled*, or formally trained. By investing in education and skill development, companies can ensure a robust future workforce that will be essential for them.

2. Integrate supply chains. Business responsibility extends beyond CSR, and includes the supply chain and the community. Companies need to engage with the suppliers at every level in order to be inclusive.

3. Support local communities. Companies need to recognize the community as stakeholders in their business and share in their concerns about local development issues.

4. Ensure non-discriminatory, level playing fields. A responsible company adopts non-discriminatory practices in recruitment and wages. It promotes diversity in the workplace and offers equal pay for equal work.

5. Respect basic human rights. Through robust policies that enforce basic human rights, companies can create an enabling environment for workers that can ensure higher productivity, while simultaneously condemning practices such as forced labour and child.

6. Be transparent. Transparency and a policy of disclosure make a company appear honest and above board. By offering complete and accurate information about its operations, a company fulfills its responsibility to its stakeholders in helping them make informed choices about its products and services. Stakeholders view an honest company more favourably.

*According to the Labour Bureau Report, 2014.

The India Responsible Business Forum (IRBF) Index 2015 is an initiative by Oxfam India in partnership with Corporate Responsibility Watch, Praxis and Partners in Change, non-profits which look at corporate accountability and business responsibility.

 

 

Monitoring, Evaluation and Learning

Monitoring, Evaluation and Learning at Oxfam India plays essential function of gathering evidence to measure the degree to which our interventions bring sustainable changes in people's lives

Read More

Related Blogs

Blogs

Stories that inspire us

Monitoring, Evaluation and Learning

17 Jan, 2017

NA

Unpacking the Risks of Doing Business in India

The World Economic Forum recently published its annual Global Risks Report for 2017. This report is based on a global perception survey covering various age groups, countries and se...

Monitoring, Evaluation and Learning

26 Oct, 2015

NA

Pushing, pulling and the power of people: new horizons for corporate responsibility?

We all see that business shapes our lives. As consumers and workers, as farmers and communities, the behaviour of businesses has a deep impact on all of us. And we see that for a fa...

Monitoring, Evaluation and Learning

26 Oct, 2015

NA

Yes bank - say to inclusive and social banking and inclusive business model

Despite of the efforts made by banks in India to reach out to rural areas in recent years, India remains a highly unbanked country, with more than half of the population financially...

Monitoring, Evaluation and Learning

26 Oct, 2015

NA

Creating shared value through inclusive business

The inclusive business concept aims to address poverty in a way that is commercially viable for businesses. It provides an opportunity to engage with poor people through interventio...

img Become an Oxfam Supporter, Sign Up Today One of the most trusted non-profit organisations in India