/ ‘How do corporations report on the management and impact of restructuring?’
Sustainability Focus - 02/02/2018
‘How do corporations report on the management and impact of restructuring?’
This study aims at assessing the engagement and performance of almost 4,000 companies rated by Vigeo Eiris in the 'responsible management of restructuring' domain, focusing on the commitments adopted by companies, the inclusion of employee representatives in the decision making process, the choice of measures put in place and stakeholder feedback on outcomes.
In the age of globalisation, the responsible management of restructuring and reorganisation is a key engagement for companies to undertake in order to provide decent work and employment to their workforce and surrounding communities. The current global employment crisis represents an income insecurity risk for millions of workers.
During the December 2017 International Trade Union Confederation (ITUC) General Council Meeting, the annual ITUC Global Poll 2017 results clearly showed that job losses linked to the shortcomings of globalisation represented one the main concerns, second only to inequality, for most workers in the world, especially women and young people.
The poll stated that over the past two years, 38% of respondents have directly experienced unemployment or a reduction in working hours, either themselves or via a family member. Furthermore, as highlighted by the International Labour Organization (ILO), employees with non-standard contracts (such as temporary jobs, self-employed workers etc) are more vulnerable to the loss of their income security.
According to the ITUC Global Poll, companies are perceived as withholding power in employment decisions, whilst governments are seen as not doing enough to protect workers.