The maintenance of harmonious industrial relations is of vital importance for the survival and growth of the industrials enterprise. The significance of industrial relations is in the fact that their quality increase the efficiency and hence prosperity, reduced turnover and other tangible benefits to the organization.
The significance of industrial relations can be summarized as below:
1. To bring better understanding and cooperation between employers and workers.
2. To establish a proper channel of communication between workers and management.
3. To ensure constructive contribution of trade unions.
4. To avoid industrial conflicts and to maintain harmonious relations.
5. To safeguard the interest of workers and the management.
6. To work in the direction of establishing and maintaining industrial democracy.
7. To ensure workers’ participation in decision-making.
8. To increase the morale and discipline of workers.
9. To ensure better working conditions, living conditions and reasonable wages.
10. To develop employees to adapt themselves for technological, social and economic changes.
11. To make positive contributions for the economic development of the country.
The scope of industrial relations includes all aspects of relationships such as bringing cordial sand healthy labour management relations, creating industrial peace and developing industrial democracy.The cordial and healthy labour management relations could be brought in:
• by safeguarding the interest of the workers;
• by fixing reasonable wages;
• by providing good working conditions;
• by providing other social security measures;
• by maintaining healthy trade unions;
· by collective bargaining. The industrial peace could be attained:
• by setting industrial disputes through mutual understanding and agreement;
• by evolving various legal measure and setting up various machineries such as Works Councils, Boards of Conciliation, Industrial Relations Courts etc.
The industrial democracy could be achieved:
• by allowing workers to take part in management; and by recognition of human rights.
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