Globalisation has brought huge benefits to economic and social development. Yet a globalised working population has not been accompanied by a global consensus on labour rights. Too often, multi-national corporations are criticized for inadequate provision of labour rights and exploiting local workers for global profits. Only 35% of the One Young World community feel worker’s rights are adequately protected in their country and 87% would like to introduce labour watchdog organisations with the power to fine or impose sanctions on companies who abuse labour rights.
The global informal economy lacks effective regulation and it remains too easy for employers to escape their legal responsibilities. Education and awareness of labour rights is insufficient, with too few workers unable to claim or simply unaware of their rights. 95% of the One Young World Community identifies the need for everyone to be educated in their labour rights and 82% believe that workers in the informal sector deserve the same rights as those in formal employment. There is a need for a global effort to build a global consensus on labour rights to ensure that labour rights are seen as universal, rather than the preserve of richer economies.
How can global business guarantee safe, fair paying jobs?
· The real cost of cheap labour: safeguarding rights
· Engaging and regulating the informal sector
· Increase awareness of labour rights wherever you do business