Importance/objectives of Industrial Relation for Employees and Employers
Industrial relations usually imply good and positive relations between the employees and employers.
Following are the importance of IR
#1. Promote Industrial Democracy:-
Industrial democracy means the government mandated worker participation at various levels of the organisation with regard to decisions that affect workers. To help establish and maintain true industrial democracy which is a prerequisite for the establishment of a socialist society.
#2. Encourage collective bargaining:-
IR encourages collective bargaining as a means of self-regulation. They consider the negotiation process as an educational opportunity, a chance both to learn and to teach.
#3. Foster Industrial Peace:
In IR, both employees and managers discuss the matter and consult each other before initiating any actions.Thus, unilateral actions that prop confusion and misunderstanding disappear from the scene. In this way, IR helps to establish Industrial Peace in the organisation.
#4. Benefit to Workers:
IR boost the discipline and morale of workers. Maintenance of discipline ensures orderliness, effectiveness, and economy in the use of resources
#5. Improve Productivity:
Experiences indicate that good industrial relations serve as the key for increased productivity in industrial organisations.