Industrial relations is used to denote the collective relationships between management and the workers. Traditionally, the term industrial relations is used to cover such aspects of industrial life as trade unionism, collective bargaining, workers’ participation in management, discipline and grievance handling, industrial disputes and interpretation of labor laws and rules and code of conduct.
The term industrial relations explain the relationship between employees and management which stem directly or indirectly from union-employer relationship.
According to NCL (The National Commission on Labor), industrial relations affect not merely the interests of the two participants- labor and management, but also the economic and social goals to which the State address itself.
Industrial relations has become one of the most delicate and complex problems of modern industrial society. Industrial progress is impossible without cooperation of labors and harmonious relationships. Therefore, it is in the interest of all to create and maintain good relations between employees (labor) and employers (management). There are advantages of good Industrial relations and its impact in the industry as well as in the society. The healthy industrial relations is the key to the progress and success. Their significance and objectives may be discussed as under –
To safeguard the interest of labor and management by securing the highest level of mutual understanding and good-will among all those sections in the industry which participate in the process of production.
To avoid industrial conflict and develop harmonious relations, which are an essential factor in the productivity of workers and the industrial progress of a country. To raise productivity to a higher level in an era of full employment by lessening the tendency to high turnover and frequency absenteeism.
To eliminate or minimize the number of strikes, lockouts by...