With effect from October 2015 employers with a global turnover of £36 million and selling goods or services in the UK now have to publish a modern slavery statement every financial year stating what steps they have taken to prevent slavery. Whilst businesses will need to factor this into their risk management planning, they should not under-estimate the impact of this legislation in terms of their reputation. Transitional provisions will apply for business whose financial year ends shortly after the introduction of the law but failure to comply could result in legal action.
Affected employers should consider appointing someone with responsibility for compliance; training staff in the requirements; reviewing supply contracts to ensure suppliers have appropriate safeguards in place; and consider introducing a slavery and human trafficking policy.