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 both the management and the employee develop a respect towards each other. Also, it opens a forum where the management can convey their limitations as well regarding any issues which the management is unable to fulfill for the employee. Coming to the agreements, these are normally put across through a chief negotiator. He is a person who is mutually taken as a moderator from the both the parties and speaks on part of the parties. He is a kind of spokesperson of the party and he conveys all the points decided by the party and puts the point across. Also, when the chief negotiator speaks the other members abide by him and stay silent.
Peace is something which is of utmost concern in any organization and companies should make all efforts to get everybody on the same page with the common aim to increase turnover for the company. Collective bargainingis a step in this regards where the employee makes the rule with the management.