Economics essay on: Industrial Relations in Australia for Sustainable Business

 Industrial/Employment Relations is defined as collective approach to maintain a relationship between management and its employees. It has to be developed at work place to handle the grievances, to take decision about employees, maintain discipline and remove their stress level. Healthy Employment relations can be created if all the parties like employers, employees, trade unions, different committees, and government work together for mutual benefits of each other. Better industrial relations will help to motivate the employees and it will help to increase the productivity of the Organization. It develops a positive atmosphere for the employers and the employees (Managementstudyguide.com.     2012). The problems like strikes, Lockouts and disputes can be removed with the help of proper Industrial relations at workplace. Employees and employers have been using it as a weapon to safeguard their interest at workplace. Industrial Relations will help employees to represent their requirements in front of management. Globalization and emergence of new technologies have been brought changes in Industrial relations (John Wiley & Sons     2012). The new rules, regulations and the policies of an Organization can be successfully implemented with the help of harmonial Industrial Relations. The advantages of developing healthy industrial relations are, it will help in increasing the morale of the employees, wastages can be minimized, mentality of employers and employees towards each other can be improved and disputes can be minimized. A peaceful environment is requirement of every organization and it can be promoted by the help of better Industrial relations. The various acts like Equal remuneration Act, Factory Act, Gratuity Act, Bonus Act, can be used to create a better working place by the help of Industrial Relations. It should be maintained because employees can discuss the problems with the other employees to reduce the tensions and anxiety at workplace. It is interconnected with different field such as economy, sociology, Law and psychology.

In Australia Industrial Relations or the workplace regulation Act has been playing a vital role in developing its political and economic factors (University of Sydney    2000). Previously in olden day there was a centralized industrial relation at the workplace. The changes in Industrial Relations at Australia were explained with such terms like high involvement, high commitment and which was related with the productivity of an organization. Fair work system Act 2009 is there in Australia to maintain a balance between employers and the employees. It has got powers to amend certain changes related to wages, unfair & fraudulent activities, take decisions related to the leaves of the employees, decide about the holiday policies, and about termination process of the employees. The collective bargaining process can also be used to negotiate and represent the interest of the employees. It has been observed that about 96% of employers are successfully implementing this Act. The labor Party of Australia has found it as their moral responsibility to build their nations. The collective and social approach is being used by both the parties at work place. Australian Government has been ensuring that financial market is being protected by the Industrial Relations (Australian Government    2009). The work place relation Act has helped to sort out the problem and pacified the things properly. Better industrial Relations in Australia have helped to create a win -win situation and better working culture in Business Organizations. In olden days Labors were very self-centered, aggressive, and disrespectful towards the senior management. A code of conduct was developed by the help of cooperative workplace relation Act to resolve the conflicts. It helped to set the responsibilities for the employers and the employees, decisions were taken fairly, and ensured unity at the workplace. The result of better industrial relations was reflected in Australia in form of better living standard of the employees, increase in the revenue of the organization, job satisfaction of the employees and better economic growth. For the sustainability of the business in Australia the Industrial Relations came with changes in form of Fair work system Act on 2009. It has been implemented and covers all types of business such as Partnerships, sole trading, non- trading and the trading companies. It contains 10 basic conditions for the workplace. It is to be followed by all the employers and the employees. This will help to ensure that workers are paid fairly, safe working environment is created, and fair interest of workers should be considered by the management. This has brought changes by reducing the number of the strikes and the lockouts (Fairfax Media Publications Pty Ltd     2011).  A friendly environment has been developed at Australia will motivate the employees and productivity of an organization will increase automatically. It is an important agenda that is being discussed by Government and the employers across the world. The evolution of new changes in Industrial relation gave birth to Fair work Act. The Deregulation and privatization of the organizations have brought changes in Industrial Relations of Australia. The Australian Federation of Employers and the Industries (AFEI) have been stating that the employers need to deal with wide range of issues at their workplace.  AFEI has been ensuring that the risks are being minimized and legal obligations are being followed properly.  It has helped the industries in Australia to make clarity related to Harassment policy, discrimination, drugs, confidentiality, dress code of employees, occupational health and safety related matters (AFEI     2012).  Australian government is there to check whether the employers are following better employment relations at their workplace. A good workplace policy has been always supporting the companies and its employees. Fair work system in Australia has been helping to provide assistance to the those employees who have missed the benefits in the past such as child care, community services, safety, cleaning and old aged care. It promotes in better bargaining and protect from the dismissal of the employees. Fair work has provided the advantages to the employers in multiple ways. The employees who are on strike process are not being paid by the employers. Sometimes when the industrial actions are taken which is unprotected at that time employees is being paid for the four hours. Notice can be issued by the employers for the employee’s misconduct. Fair work system will help to prevent the Australian economy by proving health and safety measures. This system has also been including some provisions for the new entry for the workers in the footwear, clothing and the textile industries. It has been stating that about 96% of the employers have been using this employers have been using this workplace policy for running their business. This policy works best in economic times creating fair working conditions for the employees. It has been helping to create a work life balance for the employees (Australian Government    2009). The employees have been bearing the financial and the economic risks. Workers in Australia have been working for long hours and they have been paid fairly with the help of work place policy and which has been contributing directly to the Australian economy. The productivity of the industries has been increasing and the workers are being paid fairly by their employers. The industrial Relations have been contributing to the sustainability of the business in Australia by encouraging the employers to implement the policies and government should ensure that the employees are not being exploited by the employers. The proper structuring of the organization has been enhancing its productivity. The employers have been sharing their gains for their employees to make them happy and motivated which will help in better performance at workplace. The changes in the industrial relations in Australia have been increasing the number of the skilled manpower which shows that economy is growing in a smooth manner. The workers are being treated equally and are not being discriminated on the various aspects such as race, ethnicity and gender. The disable employees are also been hired by the employers to help in development of the society. The number of the global companies has been increasing which has made the economy of Australia competitive (Chambers of Commerce and Industry    2011). It has been promoting flexibility, harmony and fairness at workplace. Australian Industrial group is the largest group contributing for the development of its economy. The employers in this group belong to construction, automotive, technology, call center, telecommunication, Information Technology, and transport sectors. It has been strongly involving in and helping at enterprise, state and national level. It has been creating lots of employment opportunities and inflation has been controlled. It has been assisting legislative bodies to avoid the different uncertainties. It has been stating that termination notice should be given, and protect against other factors. The enterprise Agreement should be made at workplace to develop a better working culture and increase the productivity of an organization. Also to grow the business in Australia, provision for better employment have been made, the powers have been used by the employers and legal bodies for the awards and engagement of the workers. The contractors of an organization should also have an agreement with the unions for developing friendly atmosphere. Certain challenges have been faced by Australian economy due to the Chinese industrialization process. Both the countries have been growing with a speedy rate. The factors to change the Australian economy are changes in the demographic structure and Globalization. The increasing diversity of the workforce has been managed properly at the workplace and also the government has been adjusting with the tax systems of Australia. Liberty has been provided to the employers as well as the employees for growing the economy of Australia. The power is being balanced by the employers and the unions at the workplace (Australian Industry Group     2005). The employees or the workers have been empowered by the management to ensure that they are being valued in an organization. There is locus of control by all the parties to grow the business in Australia. The negative influences of the trade unions have been reduced to support the enterprise bargaining at workplace. Even the workers are educated and they know about their employment rights at workplace. They can present their fair interest in-front of management. Many Intangible attributes are being provided by the employer to the employees to grow the business. Better employee’s satisfaction will result in innovation, commitment, and well being towards the employers at workplace. The better industrial relations with the workers will also help the stakeholders to develop confidence towards the industry. It will help in better communication and attracting better qualified workforce and retaining for the longer period of time in Australian Industries. The 3P’s in Australia have helped to determine the sustainable business such as productivity, population and participation (Society for Knowledge Economics    2011). In 2012, global companies have been facing problems to deal with Employment policies and there have been chances that it can affect its sustainability in Australia. Changes have been made in the fair work system but still it is creating problem for the global companies. The reasons can be decreasing in the value of the dollar, and financial crisis held globally. Companies such as Dell, GE, IBM, Intel and many more are there who have been struggling to make their business stable in Australia. The increase in the labor cost, have been a major issue which the companies have been facing in the companies. Employment standards have been created at workplace for the better performance of the employees in Australia. For the stability of Australian Business more changes should be made in workplace act for the employers and the employees. Skilled manpower can be made available with by providing the education. The labor market should be grown so that there should not be labor crisis. The equal employment Act can be implemented by all the industries in Australia to grow its business by preventing from discrimination between the employees at workplace. The employers should maintain a flexible approach to deal with the policies in Australia to grow the business. Sustainability can be only maintained if needs of the job seekers are fulfilled and they enjoy the better employment relations at their working places. The ways to grow the business of the Australian economy are employers can have a better recruitment policy. They can recruit the labor with the help of consultants and contractors. On Job training should be provided so that the accidents can be prevented and motivation of the employees can be increased. The employees can provide a better working environment by developing and implementing work place health and safety measure. Labor should not be exploited by the employers. It has been stated by ACTU that there are several weakness of Fair work system implemented by the Industries. The enterprise bargaining of 1993 has brought some improvement in its economy. It is one of the major concerns that are interconnected with the economy of Australian. The changes will create more jobs and sustainability of business can be maintained as well as the workers will get more wages. Australia is known as the fourteenth economies of the world in terms of business (Commonwealth Bank of Australia     2012). The pressure has been increase in working families due to the decentralization at workplace. The new drivers for growing the business in Australia are to be found out for the sustainable business. It has been often found that the host employees are paid less as compared to the Australian workers which is not fair for the economic growth. The government and the employers should invest for the education and training of the workers. Proper nation building plan should be framed and the investment should be done for the economic and the social factor. High wages should be paid for the employees who are being involved for the research and developmental activities for growing the business in Australia. The industries in Australia are known for the casual employment process which states that they have been exploiting those workers by without paying them for sickness and long hours. Though the Labor participation is increasing but the job hopping is a major concern for the Industries. Industries must also know how to engage the Labor for growing their business which will be help in contribution to grow the nation and its economy. Many changes in workplace act have resulted into positive results. The Decentralization process has helped to make various changes in the relationship of the employees and the employers of Australia. The enterprise bargaining has helped different organizations such as mining and construction. Australian economy is growing as compared to the western countries and Asian countries. The industries have been struggling for maintain its sustainable economy. The unemployment rate has been high in Australia. Conditions of the employment should not be made conducive and it should consider the workers participation in increasing the productivity of the Industries.

Australian Industries have been creating balance between the powers of the employees and the employers. The fair and transparent working policies have been implemented at workplace to grow the economy. Fair work Act has been promoting and ensuring to create a better atmosphere for the employees and the employers. Government has been intervening to check whether the right of the workers is protected at the work place by the employers. Safe working employment conditions are being framed and changes are made as per the requirement in economy of the country. Trade Unions have been less favored in the modern times and collective bargaining is used to represent the interest of the workers in front of the management. The activities like strikes lockout are less favored because it hampers the productivity of an organization and the economy is also affected. Different approaches have been used and modified to make then workplace policy a flexible policy for the employees. The problems and issues such as minimum wages, unfair dismissal and hazardous working conditions have been checked by the employers and changes have been made for the employees. A balance between family and work is to be ensured by the employees and the employers. To ensure the best possible practices of the employers in the Industries certain Legal bodies can help to check it. A good employment relation in Australia has helped to remove the unnecessary tensions and stress of the employers and the employees. It is a mutual process which binds the several parties in the Industries. The absenteeism can be removed by the workers which will help in contribution of the growth for the industries and economies of Australia (CIPD   2012). A better employment relationship will help to retain the employees in the Industries of Australia for a longer period of time. Industrial goals can only be achieved if proper Industrial relationship is maintained at the working place. Open communication system should be there to understand the requirement of the workers. Employees have been valuable assets for an organization/Industries since long period of time. They should not be exploited by the employers in Australia. Though Fair work system is there but it is the responsibility of Government employers and the legal bodies whether it is working properly. Australia has been growing in terms of economy but the sustainability of business should be maintained for the coming future. It is only possible if a healthy employment relationship is being maintained at work place by the employees and the employers which will be contributing in the growth of Australian Economy. 

If you want Economics Management Assignment Help study samples to help you write professional custom essay’s and essay writing help.

Receive assured help from our talented and expert writers! Did you buy assignment and assignment writing services from our experts in a very affordable price.

To get more information, please contact us or visit www.myassignmenthelp.Com