Should You Develop a Modern Slavery Statement?

Organisations are required to publish a modern slavery statement if they: 

It’s important for organisations to self-assess whether they meet these criteria. Factors such as having a UK office, providing services in the UK, or receiving income in the UK are key in determining if an organisation is carrying out business in the UK. 

Senior management must be engaged in the preparation of a modern slavery statement, as it requires approval by the board of directors and must be signed by an individual director. This ensures that modern slavery issues are prioritised at the highest level within the organisation. To facilitate this, organisations are encouraged to be transparent in their statement and ensure its contents are accurate to avoid negative scrutiny. The process often involves cross-department collaboration, including teams from procurement, HR, and compliance. 

Failing to publish a modern slavery statement, or publishing an inaccurate or incomplete one, can lead to reputational damage, loss of customer confidence, and negative public relations. It may also affect an organisation’s ability to participate in public sector tender processes, where non-compliance with modern slavery regulations is grounds for exclusion. While there are no fines for non-publication under the current UK regime, the government can seek an injunction to compel publication. Additionally, increasing international regulations and future proposals for stronger rules could bring additional consequences, including sanctions or restrictions on businesses that do not address modern slavery in their supply chains.