Industrial Relations are one of the most delicate and complex problems to modern industrial society. It embraces diversified issues into a consolidated manner to deal successfully with the complicated scenarios of the industry and its society. The functions that industrial relations perform for this purpose are stated below:
1. Employer-employee Relations: Personal attention given by the employers /management to their employees. It involves with the Wages and salaries administration; career prospects and promotion; retirement benefits and medical cover; redress of grievance and discipline; training and development of employees; counseling ; compensation on accidents, insurance cover etc.
2. Labour-management Relations: Industrial relations promote healthy labour- management relations. It involves with the group relations. It covers the aspects of recognition of union and bargaining agent; collective bargaining; industrial disputes; bipartite and Tripartite dispute settling machinery; welfare measures and benefit schemes; health and safety etc.
3. Industrial Peace and Productivity: Industrial relations try to maintain the peace in the industry so that the productivity of the industry maintains a systematic standard. It involves with the aspects of improving union- management relations; avoiding strikes and go-slow tactics; preventing lock out and layoffs; upgrading technology and production method; secure employees cooperation in improving productivity; minimize loss of man days per year; retraining and redevelopment of surplus labour etc.
4. Industrial Democracy: Industrial democracy is a mechanism to ensure the dignity and welfare of the individual so that he may develop into a good citizen- a citizen free from domination, regimentations or arbitrary authority.
5. Liaison: Industrial relations maintain strong communication and public relations with the parties who have influence upon the industry and its associated forces. This gives a broad network of relations that helps establish, maintain and promote relations of mutual interests for the benefit of all parties.
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