Strategic Relevance of Wage Settlements
In India’s evolving industrial landscape, wage settlements have transformed from mere instruments of salary fixation to strategic levers for fostering industrial peace, operational efficiency, and workforce alignment. The settlements have evolved into critical strategic levers for driving industrial peace, operational efficiency, and workforce alignment with organizational goals. Effective wage settlements can enhance employee morale, ensure business continuity, facilitate technological change, and provide a platform for long-term productivity gains.
For Human Resources (HR) and Employee Relations (ER) professionals-especially the new generation navigating multifaceted industrial relations landscapes-mastery over legal frameworks, adjudication processes, stakeholder engagement, and negotiation strategies is indispensable. This article offers a comprehensive framework that blends legal mandates with on-ground strategies to help professionals achieve win-win wage settlements that are both legally robust...
