Good work standards are at the heart of good business. Here's why

The development of global standards for ‘good work’ by the World Economic Forum’s Good Work Alliance marks a rapid, international response to new evidence that good quality work promotes wellbeing, builds resilience and reduces different kinds of inequality.

Research shows the strong social, economic and health case for centring the creation of the future of 'good work' as a cross-cutting priority for policymakers and business as we ‘build back better.’ IFOW’s Good Work Monitor and Time Series highlight the close association of work quality with various measures of health and resilience, including life expectancy, satisfaction and wellbeing across a range of measures.

On the other hand, poor access to 'good work' correlates with difficult work transitions, diseases and deaths of despair and even COVID-19 mortalities.

Our analysis makes the case that job creation policies should aim for good jobs – work that promotes dignity, autonomy and equality; work that has fair pay and conditions; work where people are properly supported to develop their talents and have a sense of community – not just employment. This is important, given rising inequalities in wages, earnings and other fundamental aspects of job quality.

The current axial moment of modern history is a particularly good time to reflect on the importance of shared values, inclusion and fair play across borders, supply and value chains. Although our study is UK-based, its findings highlight the incentives to develop and implement standards across the Good Work Framework at a global level.

Detailed standards and guidance at a national and sectoral level can now follow, and IFOW has identified three areas for wider implementation of 'good work' standards.

First, we have started work in the UK to ensure that 'good work' standards are core to understanding and measuring ESG investment. In addition to the business case to create good future work, companies are increasingly recognized as social institutions with social responsibilities to their employees and the communities within which they operate.

The cost of living crisis highlights this shift: companies are likely to be judged according to how they treat their workers through the crisis. We welcome the Forum’s new initiative to build on the work of the Global Future Council and integrate 'good work' standards into ESG investment at a global level.

Second, artificial intelligence (AI) is being adopted by firms at an increasing, although uneven, pace and with mixed results. When thinking about AI, it’s easy to forget that it is developed from global data and labour supply chains and makes deeply impactful decisions about the nature and quality of work for employees.

As increasing numbers of people are impacted by AI at work and ‘good work’ provides a framework to understand and evaluate AI impacts on access to good quality jobs, we recommend extending the framework to encompass international efforts to build a human-centred and responsible AI ecosystem. The Good Work Framework and IFOW’s Good Work Charter can act as a checklist against which developers and employers can assess the likely impacts on job quality to shape and enable the development of a responsible AI ecosystem.

Third, procurement, in both the public and private sectors, is increasingly recognized as a powerful tool to support policy goals and targets beyond ensuring short-term value for money. 'Good work' impacts could, therefore, be identified, assessed and taken into account when carrying out the procurement of goods or services.

IFOW has worked with the UK All-Party Parliamentary Group (APPG) for the Future of Work to craft probing amendments to the Procurement Bill to enable this approach, which is being debated in the UK Parliament this summer. The Good Work Charter is incorporated in the cross-party amendments, supported by both Chairs of the APPG.

The case for a sharper focus on creating good future work in response to new and emerging trends – and growing interest in the value of quality work – has never been stronger. IFOW welcomes the work that the Global Futures Council on Work, Wages and Job Creation has undertaken to forge pathways and build consensus at a global level to help achieve this goal – highlighted most recently in the Future Focus 2025 insights report.

The UK’s new All-Party Parliamentary Group on the Future of Work is now inviting new members to commit to IFOW’s Good Work Charter, which is consistent with the WEF standards. We will continue work to align and develop these standards throughout 2022.

The Institute for the Future of Work (IFOW) welcomes the Forum’s Good Work Framework and is proud to have contributed to the expanded goals of the framework through membership of the Wages, Work and Job Creation Global Future Council.