Importance of Industrial Relations

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Importance of Industrial Relations

A successful economy depends on having good labor relations, which can be described in more detail below.

Figure 1


Uninterrupted production –

The major benefit of industrial relations is that they guarantee that production will continue. This implies that everyone will continue to work, including supervisors. The resources are utilized to their utmost potential, resulting in maximum production. Everyone receives a steady paycheck. Many other industries gain when one is successful. If the items are intermediaries or inputs, exporters profit, consumers and workers profit, and if the products are mass-produced commodities, workers and consumers profit.

Reduction in Industrial Disputes –

Conflicts in the workplace are decreased through good labor relations. Conflicts are a manifestation of the inability of fundamental human drives or impulses to find enough fulfillment or expression, which are completely remedied by positive workplace relationships. Strikes, lockouts, go-slow strategies, gherao, and complaints are a few examples of industrial discontent that do not appear in an environment of industrial peace. It aids in fostering cooperation and boosting output.

High morale –

Positive workplace relationships increase employee morale. Because they believe that boosting productivity benefits the company and the employees, workers put up a lot of effort. Every worker thinks he benefits from the industry in some way. The employer, on the other hand, must realize that the advantages of business aren't only for him; rather, they should be liberally and fairly divided among his staff. In other words, the complete unification of thought and activity is the fundamental achievement of industrial peace. It boosts workers' social position and appeases their egos. Strong cooperative efforts alone could result in great results, therefore it inevitably affects productivity.

Industrial Relations

Mental Revolution –

The primary goal of industrial relations is for both workers and employers to undergo a thorough mental revolution. In the end, both parties' changed perspectives are what will bring about industrial peace. Working out a new relationship in line with a spirit of genuine democracy is the responsibility of leadership among the ranks of workers, employees, and the government. Both parties should consider themselves to be partners in the industry, and the part played by employees in such a relationship should be acknowledged. However, employees must respect the authority of their employers. Due to their mutual interest, it will inevitably have an effect on production.

 

Reduced Wastage –

Cooperation and mutual respect are the cornerstones of healthy workplace relationships. It will contribute to higher output. The national interest is safeguarded by minimizing the waste of labor, resources, and machinery.

Therefore, it is clear that having positive working relationships is the cornerstone of increased output at lower costs and more profits. As a result, workers are more productive. To improve employee welfare and boost workplace morale, new and innovative projects may be launched. Only in an environment of industrial peace can an economy be efficiently organized for planned production and distribution, aiming at the attainment of social justice and massage welfare. A positive working relationship between management and labor is necessary for the achievement of the twin goals of rapid national development and enhanced social fairness.

 

Objectives of Industrial Relations:


The main objectives of the industrial relations system are:- 

1. To protect the interests of labor and management by ensuring the maximum level of respect and goodwill among all segments of the industry that take part in the manufacturing process.

2. To prevent industrial conflict or unrest and foster peaceful relations, which are crucial for increasing worker productivity and a nation's industrial development.

3. To increase productivity by lowering the propensity for frequent absences and high turnover in an era of full employment.

4. To create and support the development of an industrial democracy based on labor-management cooperation in the division of profits and managerial choices, allowing each person's individuality to reach its full potential for the good of the sector and the nation as a whole.

5. To lessen or completely eliminate strikes, and lockouts by offering fair pay, better living, and working circumstances, and said fringe benefits.

6. To better the financial circumstances of workers under the current industrial and political regimes.

7. Making the state a key employer will socialize industries.

8. The employees' proprietary interest in the industries where they work will vest.

 

 

References

 

  •  David, E.(1987) Human Resource Management and Industrial Relations. Management studies.  
  • Hyman, R. (1975). What are Industrial Relations?. Industrial Relations. Palgrave Macmillan, London. 
  • Shankarappa, K.M. (2001) What is human resource?, Industrial Relations 
  • Yoder, D. (1942). Personnel management and industrial relations. Prentice-Hall, Inc.
  • Figure 1; What is the psychological contract at work?[Online] Available from https://www.marketing91.com/industrial-relations/ Figure 1 [Assecced on 8th April 2023]

  •           Hyman, R.(1975) What is Industrial Relations? pp 9–31

Comments

  1. Detsion April 23, 2023 at 8:22 PM

    pleasant article, Uninterrupted production is critical for organizations to achieve their business goals, meet customer demands, and maintain their competitiveness. Industrial relations play a vital role in creating a conducive work environment that fosters cooperation, engagement, and conflict resolution, leading to smooth and uninterrupted production processes.

    ReplyDelete
    Replies
    1. SanjeewaApril 24, 2023 at 7:30 AM

      I appreciate your thoughtful feedback.

      Delete
    2. SanjeewaApril 24, 2023 at 7:33 AM

      Thank you for your feedback! I agree that uninterrupted production is crucial for organizations to achieve their business goals, meet customer demands, and maintain competitiveness in today's fast-paced business environment. Industrial relations, which encompass the relationship between employers and employees in the workplace, play a critical role in creating a conducive work environment that supports smooth and uninterrupted production processes.

      Delete
  2. Prageeth GamhewaApril 30, 2023 at 8:40 PM

    Industrial Relations is an important factor in the success of any organization. It focuses on creating effective and mutually beneficial relationships between employers, employees, and labor unions. Good Industrial Relations practices help ensure that employees feel valued and respected, foster a sense of trust and collaboration, improve productivity, reduce employee turnover, and promote a positive work environment. Additionally, IR can also help ensure compliance with labor laws, increase employee engagement, and resolve conflicts between parties.

    ReplyDelete
    Replies
    1. SanjeewaApril 30, 2023 at 11:06 PM

      I appreciate your input, Mr. Indika.

      Delete
    2. SanjeewaApril 30, 2023 at 11:09 PM

      You are absolutely right. Industrial relations are indeed a critical factor in the success of any organization. Effective industrial relations practices can help create a harmonious working environment and improve the overall performance of the organization.

      Delete
    3. SanjeewaApril 30, 2023 at 11:17 PM

      When employers and employees work together in a collaborative and respectful manner, it fosters a sense of trust and cooperation that can lead to increased productivity, reduced absenteeism, and lower turnover rates. It can also help to minimize conflicts and disputes between employees and management, which can negatively impact morale and productivity.

      Moreover, good industrial relations practices can also ensure compliance with labor laws and regulations, which is essential for maintaining a fair and ethical workplace. It can also help to improve employee engagement by involving workers in decision-making processes and providing opportunities for feedback and communication.

      Delete

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