-Reduction in Industrial Disputes
Good industrial relations reduce the industrial disputes. Disputes are reflections of
the failure of basic human urges or motivations to secure adequate satisfaction or
expression which are fully cured by good industrial relations. 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. It helps promoting
co-operation and increasing production.
2. High morale
Good industrial relations improve the morale of the employees. Employees work with great zeal with the feeling in mind that the interest of employer and employees is one and the same, i.e. to increase production. Every worker feels that he is a co-owner of the gains of industry. The employer in his turn must realize that the gains of industry are not for him along but they should be shared equally and generously with his workers. In other words, complete unity of thought and action is the main achievement of industrial peace. It increases the place of workers in the society and their ego is satisfied. It naturally affects production because mighty co-operative efforts alone can produce great results.
3. Mental Revolution
The main object of industrial relation is a complete mental revolution of workers and employees. The industrial peace lies ultimately in a transformed outlook on the part of both. It is the business of leadership in the ranks of workers, employees and Government to work out a new relationship in consonance with a spirit of true democracy. Both should think themselves as partners of the industry and the role of workers in such a partnership should be recognized. On the other hand, workers must recognize employer’s authority. It will naturally have impact on production because they recognize the interest of each other.
4. Reduced Wastage
Good industrial relations are maintained on the basis of cooperation and recognition of each other. It will help increase production. Wastages of man, material and machines are reduced to the minimum and thus national interest is protected. Thus, it is evident that good industrial relations is the basis of higher production with minimum cost and higher profits. It also results in increased efficiency of workers.
New and new projects may be introduced for the welfare of the workers and to promote the morale of the people at work. An economy organized for planned production and distribution, aiming at the realization of social justice and welfare of the massage can function effectively only in an atmosphere of industrial peace.
If the twin objectives of rapid national development and increased social justice are to be achieved, there must be harmonious relationship between management and labor.
Titany answered the question on December 2, 2021 at 15:36