Stress levels are very high in every company and it is always advised to keep the atmosphere within the company and outside very cordial .However, the industry environment is so dynamic that predicting everyday work environment is next to impossible. Thus, Industrial relations are always kept on top priority so that peace and harmony is always maintained in the organization which leads in higher productivity and brings in profits for the company.
Well early signs of conflicts can be judged from regular absenteeism of the employee, followed by attrition in the long run and many times strikes can also be called out. This is a good indication that the company’s management’s and their labor relations are not very amicable and efforts have to be made to bring them back on track. This kind of turmoil in the company leaves a very bad impression on the industrial relations of the company and you find investors raising doubts on the company’s credibility.
Managing labor relations can be tough and at times also simple; it all depends on how they are tackled. After all at the end of the day a happy employee makes a profitable company. The perfect step in this regards would be through employee participation. Here you involve employees in the decision making of the company. By doing so, they feel wanted and feel valued. It gives them an opportunity to put their point across and they feel they have a say in the company.
Companies today are implementing collective bargaining in their administrative policy. This is a strategy where both the management and the employee union sit across the table and formulate the rules charter of the company. Generally the agreement is reached upon wages, hours of work, training, allowances and trainings, leave policies, medical insurances, compensations and of the like through this. The aim is to reach at a mutual agreement on both the sides. Collective bargaining is a step towards instilling confidence within the company so that…