Strikes, lockouts, go-slow tactics, gherao and grievances are some of the reflections of industrial unrest which do not spring up in an atmosphere of industrial peace. The per-employee productivity is comparable to the best in the world. An increase in the morale of workers reduces per unit cost of production too. Basically IR stems from employment relation. This means, continuous employment for all employees who contribute to production process, ie., from chief executive officer to floor workers to pantry boy. Thus industrial unrest can be avoided. It will naturally have impact on production because they recognise the interest of each other. It motivates the workers to contribute their best towards attainment of organisational objectives. Rao, Sundaram Fasteners (A TVS group company which begged the prestigious GM award for the fourth successive year in 1999 as a quality supplier of radiator caps) is well known for zero breakdowns, zero accidents and zero defects. From all these we can conclude that good industrial relations certainly boost up the production and improves the quality and quantity both. A student is supposed to be attached to a company or organization that offers services that are related to the student’s course of study. Privacy Policy 9. To help government in making laws forbidding unfair practices of unions and employers. Much of the success or failure of Indian Five Year Plans would be dependent on the maintenance of harmonious employee-employer relations. The work of an industrial-organizational psychologist could improve worker morale, boost efficiency, decrease absenteeism or lower the turnover rate. v. The relationship is based on economic, non-economic issues arising out of terms and conditions of employment as also practices not covered under the terms. Hence, one of the main goals of the Five Year Plans in India has been rapid industrialization and more employment in secondary and tertiary industries. Uninterrupted Production 4. Therefore, little do all of us realize that it is the people who create problems everywhere and it is only they who can find solutions. The importance of good industrial relations can be judged from the following points: (f) Controls industrial disputes and maintains industrial peace. Clarity in Working Relationships 3. Human Resource Management, Industrial Relations, Importance of Industrial Relations. Creates Transparency A close watch will reveal that it becomes a vital concern for the com­munity also. TOS 7. Thus good industrial relation plays a vital role in establishing industrial peace, industrial discipline and industrial democracy. Good industrial relation helps in effective utilization of man, money and material. Industrial Psychology is important in: 1. The importance of industrial relation is as follows: Healthy cordial relationship between the work force and the employer and management and amongst the workers within the workplace improves the workers’ productivity and efficiency. In short, the term, ‘industrial relations’ means the relations between employees and management arising out of day to day work in industry. Complete harmony between labour and capital may be a dream but quite a considerable amount of unrest and discontent among workers can be removed through efficient handling of industrial relations. Pattern of IRs is influenced by people’s value, belief, perception, aptitude, personality, attitudes, ethical value etc. To boost the discipline and morale of workers. It is also viewed that one of the essential steps for building up an economically free and self-sustaining India is, large- scale industrialisation at a rapid and steady growth. The mission of the International Labour Organization (ILO) is to promote social justice and internationally recognized human and labour rights, based on the founding principle that social justice is essential to universal and lasting peace. Good industrial relations are necessary for the following reasons: 1. The goal is to identify and solve problems, increase employee satisfaction, and improve workplace dynamics. Industrial relations have their impact not only on the industrial unit but also on the society. These unions exert the similar kind of pressure like trade unions do. A healthy industrial relation is essential for smooth functioning and success of the organization. This changing process becomes a continuous feature in industrial system and makes IR concept a dynamic and evolving one. Importance of Industrial Relations: Increased Production, Uninterrupted Production, Improves Morale and a Few Others Importance of Industrial Relations – With 6 Reasons Why Good Industrial Relations are Necessary. The First Five Year Plan has clearly demonstrated the fact that, “as economy organized for planned production and distribution, aiming at the realization of social justice and the welfare of masses can function effectively only in an atmosphere of industrial peace”. State, employers ’ organizations and workers and between worker and worker are regular features in industry influenced... Sense, the student learns about the industrial organization model allows firms to get a better on. Increase employee satisfaction, performance and evaluation methods are measured when industrial conflict erupts unskilled to. Management shared by visitors and users like you they lead to wastage, hatred... Feels that he is a prerequisite for the following reasons: 1 reasons:.! 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