Realising Good Growth SDG8

Overview

SDG 8 recognises the importance of sustained economic growth and high levels of economic productivity for creating well-paid quality jobs and resource efficiency in consumption and production.

It calls for opportunities for full employment and decent work for all, the eradication of forced labour, human trafficking and child labour, and the promotion of labour rights and safe and secure working environments.

Business Opportunities & Benefits

• A commitment to social responsibility and sustainability improves a company's image among consumers, investors, and stakeholders.
• Increased market share as consumers are increasingly conscious of ethical and sustainable practices.
• Addressing labour rights and working conditions can lead to reduced costs associated with employee turnover, absenteeism, and legal issues.
• Supporting SDG8 can drive innovation and the development of new sustainable business practices and products.
• Investing in decent work and economic growth can help mitigate risks related to social unrest, economic instability, and climate change.
• Creating a positive and inclusive work environment can boost employee morale, productivity, and loyalty.

How can an organisation pursue SDG8?

Creating decent jobs is one of the fundamental ways that businesses support economic growth and sustainable development, but it is also how they drive their own future development.

Delivering on SDG8 will require more companies to take a proactive approach to embed a more inclusive and sustainable growth model (see Good Dividends).

Actions may include:
• Promote decent work within your organisation and your suppliers
1. Acceptable payment
2. A formal job with rights
3. Safe working conditions
4. Fair work with normal working conditions
5. A job that pays a living wage, not just a minimum wage
6. Equality for men and women
• Be a conscious consumer (in business and personal life). If something is cheap, it is likely to hurt people or the planet in some way.
• Buy from local producers. Support local economic growth by choosing to buy from local producers and businesses.
• Establish a company policy against unfair hiring and recruitment practices based on gender, race, disability and modern slavery.
• Do invest in the professional development of all employees, not just upper management.
• Put into place strategies to identify and combat child and forced labour across the supply chain.
• If applicable, create fair pay, working conditions, and opportunities for professional growth for your company’s workers in developing countries.

Sustainable Development Goal #8

Decent Work and Economic Growth

Overview

Business Opportunities & Benefits

How can an organisation pursue SDG8?

More SDGs