CSR programs are an Investment, not a Cost
Many people are looking at the new regulations coming out around the world requiring companies to do some sort of due diligence to ensure they are sourcing responsibly and worried about the additional costs that will be incurred towards their business.
I encourage you to view a Corporate Social Responsibility (CSR) program not as a cost, but as an investment in the future success of your business. CSR programs ensure that the workers in your factories are treated well. Happy workers in your factory = better products. Why? Because the workers come back.
Imagine you are sourcing mainly from China. You source from factories that treat their workers poorly. Every years at Chinese New Year when all the factories across China shut down, all the workers go back to their villages. When they come back 3-4 weeks later, they will not return to a factory at which they were unhappy. They will of course look for a better job. That means your factory will not have enough workforce to make your products on time and the quality will suffer. Further, they will rush to hire new staff who are untrained and inexperienced on the production line - the quality will suffer further.
Contrast that with a factory who pays their workers fair wages in a timely fashion and treats them well. When the factory opens up after Chinese new year, most of the workers return which means a functioning and experienced workforce delivering higher quality product to you on time.
This allows you to sell more products upon demand that are of higher quality, creating happy customers for you with great word of mouth to help you in your sales. So, although you may have to spend a bit more money to implement a CSR program, the long term returns equate to strong and sustainable business growth for you. It is really an investment, rather than a cost!