What is the meaning of industrial relations?
Credit: Thomas Lai Yin Tang Moment Open Getty Images
Q:

What is the meaning of industrial relations?

A:

Quick Answer

The term "Industrial relations" refers to all the relationships between the different stakeholders in an organization, such as employees, management and trade unions. The purpose of this is to make sure that all needs are met and everyone involved can move forward amicably.

  Know More

Full Answer

Industrial relations are an important part of every organization, particularly those that have workers who are represented by trade unions. Every company needs employees, who in turn need to be compensated for their efforts. Industrial relations help to sort out the differences between employees, management and trade unions so that a compromise can be reached wherein each party is satisfied with the working arrangements.

Learn more about Managing a Business
Sources:

Try a quiz

Q:
What does the word 'Om' mean in yoga?

Related Questions

  • Q:

    What is employee relations?

    A:

    The Office of Human Capital Management defines employee relations as the body of work that maintains employer-employee relationships to produce satisfactory productivity, motivation and morale in an organization. A good employee relations system prevents and resolves problems among individuals that come from or otherwise affect work situations.

    Full Answer >
    Filed Under:
  • Q:

    What is the "systems approach"?

    A:

    Managers have a "systems approach" in business when they focus on the interdependence of various functions of the organization and external factors in making decisions, according to BusinessDictionary.com. This approach contrasts with a highly functional or analytical approach where decisions made by each business unit are separate from those made in other areas of the organization.

    Full Answer >
    Filed Under:
  • Q:

    What are company policies?

    A:

    Company policies refer to documented guidelines or rules of conduct within an organization. These policies and schemes outline the responsibilities of both employers and employees. Company policies help protect the rights of workers and the business interests of organizations.

    Full Answer >
    Filed Under:
  • Q:

    What is high staff turnover?

    A:

    High staff turnover means an organization loses a relatively high percentage of employees compared to those it hires and retains. High turnover is costly for an organization because of the costs to hire and train a new worker and the lost knowledge of the exiting worker.

    Full Answer >
    Filed Under:

Explore