Third Party Social Compliance Solutions

Managing the risks posed by a large network of third parties associated with a company is becoming increasingly complex. When non-compliant third parties are involved in the company’s daily operations, it can lead to (i) reputational damage, (ii) financial liability, (iii) operational impacts, and timing issues, as well as (iv) poor performance due to suboptimal allocation of budgets.

To be recognized as a responsible business, it's essential to have strong governance and oversight of your extended enterprise. This includes visibility and influence over supply chain continuity, regulatory compliance, human rights, labour practices, data privacy, and other material third-party risks.

How we can help:

Deloitte Legal’s Third-Party Social Compliance (TPSC) can advise your company in identifying, analysing, and managing risks associated with working with third parties. The solution enables greater control of risks and opportunities and improves visibility of third-party performance in social sustainability risk areas such as labour law and working conditions, health and safety, social security, minimum wages, social dumping, employment of foreign workers, industry-specific requirements, social crime, and more.

Furthermore, TPSC can have an impact on your company's ESG ratings.

Our comprehensive TPSC solutions consists of:

• Analysis: benchmarking your current risks and social compliance set-up and creating a future proof strategy is key in TPSC.
• Compliance assistance: executing social audits, recommendation of reporting templates and information requests lists, executing readiness scans and delivering on-site advisory assistance are all key in aiming for a future proof TPSC.
• Risk & cultural awareness: creating procedures to allow risk and cultural awareness in view of applying your TPSC strategy, by e.g., creating roadmaps for new third parties to allow third party compliance, educating employees and third parties via workshops, etc.