Industrial Relations: What it is, Objectives, Principles and Case study of Samsung

Описание: Industrial relations are those bonds that regulatory bodies, trade unions, employers, and workers share.

Broadly speaking, it involves all the relationships that connect the various people involved with any industry. It pertains to dissolving any tension within industries. Industrial relations cover all the institutions that work in the interest of the employees.

Case Study – Samsung Electronics
The Impact of Samsung Electronics Unions threatening their first strike is unknown. If their demands for more compensation and improved working conditions are not satisfied, Samsung Electronics' unionized employees have threatened what would be an unparalleled walkout at the electronics giant. After government arbitration fell through, union leaders staged a protest in front of Samsung's corporate headquarters in central Seoul. They demand that pay disparities between employees be reduced, that paid leave be increased, and that health benefits be improved.

Key Stakeholders of Industrial Relations are
1. Government
2. Employers
3. Employees
4. Trade Unions
5. Industry Bodies
6. Society

Objectives of Industrial Relations are
The main aim of industrial relations is to keep the ties between the various employees and the employers at their best.
It should try to improve the goodwill and assessment they have of each other. This helps them ensure the best for the management and the workers.
Industries have the possibility of gheraos, lockouts, and strikes. Industrial relations try to avert these conflicts.
It seeks to provide happiness at the workplace to the employees and get workers to the office and prevent them from leaving. It increases productivity.

Principles of a Good Industrial Relationship are
1. Trust Among Workers
2. Support from Management
3. Collective Bargaining
4. Robust Employee Personnel Policies
5. The education of foremen and supervisors
6. Working together with Government Bodies
7. Education for Employees

This video is on Industrial Relations and it has the following sub-topics.

Time Stamps

0:15 Introduction of Industrial Relations
0:35 Case Study – Samsung Electronics
2:42 Key Stakeholders of Industrial Relations
4:39 Objectives of Industrial Relations
5:36 Principles of a Good Industrial Relationship