ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Employers are required by management to minimise labourcosts within an organisation, while employees seek to gain the bestpossible return for themselves.
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Labour is a cost to the business and therefore employers seekto restrict wage growth while employees attempt to gain the bestpossible wage increase.
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Employers are reluctant to offer working conditions that are abovethe prescribed legal minimum guidelines.
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Employees often use their bargaining power and influence to disrupt the operations of a business.
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Detailed explanation-1: -Essentially, Employee and Labor Relations is concerned with preventing and resolving problems involving employees which stem out of or affect work situations.
Detailed explanation-2: -The importance of collective bargaining is given as under: It improves wages and working conditions, as well as it promotes equality. It provides a stage to both the parties, i.e. management and workers to stand on the same level at the negotiation table.
Detailed explanation-3: -The objective of these negotiations is to arrive at a collective agreement that regulates terms and conditions of employment. Collective agreements may also address the rights and responsibilities of the parties thus ensuring harmonious and productive industries and workplaces.