Concept of Industrial Disputes
The term “industrial dispute” refers to disagreements between employers and employees over employment conditions, such as salaries, working hours, benefits, or security. Industrial disputes can lead to strikes, lockouts, and other forms of industrial action, disrupting productivity, causing financial losses, and damaging employer-employee relations.
Collective bargaining, mediation, arbitration, and conciliation are all approaches that HRM can use to resolve industrial disputes. Collective bargaining involves negotiations between employers and employees over employment conditions that are mutually acceptable.
Third parties mediate negotiations between the two parties through the mediation process. Disputes are arbitrated by a neutral arbitrator who makes a binding decision. Third-party conciliators assist the parties in reaching a mutually acceptable solution through conciliation.
Employers and employees can prevent industrial disputes through effective HRM practices that foster good relationships, provide fair and equitable employment conditions, and facilitate effective communication channels. In order to address employee concerns in a timely and efficient manner, organizations need well-defined HR policies and procedures.