Johannesburg - South Africa is facing a crisis in labour relations and marginalised communities, Business Leadership SA (BLSA) said on Thursday.
"Trust and confidence in important sectors of society, and particularly amongst a number of marginalised communities has been seriously damaged," it said in a statement.
BLSA supported the areas of action identified last week after a series of meetings with President Jacob Zuma.
These included restoring the rule of law, re-building confidence in labour market institutions, and addressing the underlying socio-economic problems, including income inequality.
These would be further discussed with BLSA's social partners next week.
BLSA had taken note of Zuma's call for restraint in executive pay and was confident companies and their boards would take note of this call.
For this to have the symbolic effect intended, other social partners, both in government and in labour, would need to support it.
"No leader in our society should engage in ostentatious, extravagant and unproductive use of resources, especially at this time," BLSA said.
It said South Africans had risen to greater challenges than the present ones.
"There is no reason why we cannot do this again in the months and years that lie ahead. BLSA and its members are determined to work with our fellow South Africans to once again scale the seemingly insurmountable."
The statement was issued after a wave of strikes in the gold mining, platinum and freight logistics industries dominated the news, and a police shooting which left 34 striking Lonmin Marikana platinum mine workers dead.