Five signs you’re managing your social compliance data well

For many South African mining companies, the social compliance reporting season can be highly time-consuming. As this challenging period draws to a close, many social performance practitioners find themselves contemplating a more efficient approach.  

If you’re thinking, “surely, there’s a better way to do this?” – you’re not alone. 

In the dynamic landscape of social compliance reporting in South Africa, the spotlight is now on mining companies to elevate their social performance. Providing timely and accurate data to obtain a mining right is crucial, but equally important is the need to safeguard your social licence to operate by accurately reporting on initiatives that impact local communities and cultivating strong stakeholder relationships. 

With costly repercussions, how do you know if you’re effectively managing your social compliance data? Here are five signs that indicate you’re managing your data well. 

1. You have a single source of truth for all social compliance data  

One key sign of effective data management is having a single source of truth for all social compliance data. This data is typically sourced from various departments, making data collection and analysis arduous. A single source of truth to manage your social compliance data ensures data-driven decision-making, instilling trust among stakeholders. 

2. Your current and historical data is accurate, valid and easy to find 

In the past, social compliance data was scattered across spreadsheets and email threads, making it challenging to access the most up-to-date information. Having accurate, valid and time-stamped current and historical data simplifies the comparison against targets and goals throughout the year. Building dashboards with reliable data enables social performance practitioners to showcase the quality of data in each reporting category, so you can identify omissions and incorrect data efficiently.  

3. You can report on and communicate your compliance status with ease  

Maintaining consistent engagement and clear communication is essential to the successful implementation of social performance initiatives. Developing credible social performance reporting, benchmarked against previous social compliance data, helps functional areas immediately understand the impact of their compliance and governance performance.  This transparency enhances communication and helps you make decisions with confidence. 

4. You have streamlined your data capture methods  

Using a solution that automates the collection of data from multiple sources and in a multitude of formats enables businesses to have in-depth reporting, analysis and informed decision-making. This streamlined process of data collection not only significantly reduces the amount of time spent collecting and verifying data but also the risk of human error.  

5. You can assess the risks and opportunities to your business effectively 

Using automated analysis tools to generate various dashboards and trend reports enables social performance practitioners to effectively manage their progress and compliance risks across human resources, skills development and procurement initiatives. Shifting from reactive reporting to real-time monitoring allows businesses to detect positive trends and identify areas that need attention. This proactive approach aids in correcting potential issues before they become costly problems. 

Do you think you could be managing your data more efficiently? 

Effective management of social compliance data is essential to making your reporting period a more seamless and efficient experience.  

Insite, acQuire’s social compliance solution designed for South African mining companies, provides a complete view of your social compliance data in a single tool. By leveraging data from procurement, human resources and training systems, Insite empowers you to communicate with stakeholders, refine strategies based on data-driven insights, and proactively manage your social initiatives for ongoing improvement. 

Find out how you can make confident decisions and unlock the value beyond your social compliance reporting here.