How would flexibility in labour laws help companies?

For running the business/company, the four essential factors to be present are enumerated as following: Land, labour, capital and entrepreneurship. In such backdrop, if there is a flexibility in labour laws, it would mean- less regulatory framework for recruiting or for removing the labour, no strict working condition parameters, and no underlying formal rules for working hours, and so on. Since the objective of the business is profit maximization, such flexibilities ensure cost saving and thus leads to greater profit and expansion of the company.

How would flexibility in labour laws help Multinational Companies? Ans. 1. In the absence of strict laws most of the companies employ workers on temporary bases so that they do not have to pay workers for the whole year. 2. Workers also have to put in very long working hours and work night shifts on a regular basis during the peak seasons. 3. Wages are low and workers are forced to work overtime to make both ends meet. 4. To earn huge profits employers try to cut the labour cost by different ways. 5. Thus in the absence of labour laws, companies exploit the workers. 6. Flexibility in labour laws have helped the companies to increase their income granted by not paying reasonable wages and other benefits such as provident fund insurance etc.

Flexibility in labour laws will help companies in being competitive and progressive. In recent years, government has allowed companies to ignore many of the labour laws in force. Instead of hiring workers on a regular or permanent basis, companies can hire workers flexibly for short periods when there is intense pressure of work. The companies can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness.

the flixibility in labour law helps the companies in the following ways: 1. the companies now need not to heir workers on regular basis. due to which they can negotiate with the workers at whatever price they want i.e., at the menimum possible amount. 2. the compannies are now able to take free desions regarding heiring workers. now they are free to heir workers on temperorly basis at the time when there are intense pressure of works . 3. the companies now are not bounded to expend money on the additional facilities to their workers that they had to do earlier under "labour law" . these over all have helped the companies to ruduce the labour costs and earned them more profit.

1. Flexibility in labour laws help companies to reduce the cost of labour for the company by negotiating the wages and other conditions. 2. Governments allowed flexibility in the labour laws to attract foreign investment. 3. Instead of hiring workers on a regular basis, companies hire workers flexibly. 4. That is for short periods when there is intense pressure of work. 5. This is done to reduce the cost of labour for the company. 6. Foreign companies are demanding further flexibility in labour laws.

NCERT Solutions for Class 10 Economics Chapter 4 - Globalisation And The Indian Economy are provided below in this article. You can read all these solution in online mode or save them in PDF format and refer to the same in offline mode as well. All the answers are provided with the accurate and the simplest explanations. This will help you easily understand and learn these answers and do well in your examinations. Check below the NCERT Solutions for Class 10 Economics Chapter 4: NCERT Solutions Class 10 Social Science - Economics Chapter 4: Globalisation And The Indian Economy Exercises 1. What do you understand by globalisation? Explain in your own words. Answer: Globalisation is defined as the integration between countries through foreign trade and foreign investments by multinational corporations (MNCs). Increase in foreign trade, migration of people, spread of technology, capital flow, private and public investments from foreign countries all together contribute to globalisation. Globalisation has been facilitated by several factors like rapid improvements in technology, liberalisation of trade and investment policies and, pressures from international organisations such as the WTO. Also Check: 2. What was the reason for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers? Answer: The Indian government, after Independence, had put barriers to foreign trade and foreign investment. This was done to pr...

Summary. What does true flexibility look like? Most organizations approach it in one of two ways: as an ad hoc work-life accommodation available upon request, or as giving people permission to get their work done on their own schedule — as long as they’re available to answer emails or put out fires 24/7. Neither approach is sustainable over the long term. The authors, who have been studying workplace flexibility for years, advocate a more balanced approach that makes employer and employee needs equal. In this article they outline the downsides of work-life accommodation and boundaryless working and discuss the tenets that organizations should follow as they develop their own flexibility programs and policies. As organizations tentatively plan how to get work done amid the uncertainty of the coronavirus, both leaders and employees are touting the benefits of flexibility. But what does flexibility at work look like in practice? And how can you know whether your team or organization is using it successfully? We are researchers who study how organizations of all types — from professional services and IT firms to hospitals, retail stores, and manufacturing facilities — manage flexibility. Over the course of our work we have asked leaders to tell us how they do so (or not). Here is a range of typical responses: I accommodate employee needs for time to go to the gym during lunch or take a class by allowing a special arrangement with respect to the work schedule. If a family membe...

Dear student, Flexibility in labour laws has helped companies to be more competitive and progressive. By making labour laws flexible companies can hire labours as per need depending on the requirements of work. This helps in reducing labour cost. Labours can be hired at low wages on temporary basis. This also helps in attracting foreign investments for companies as labour cost reduces. Regards. Recently, companies have learned to manage despite the labor law constraints; formal flexibility and improved compliance would help to attract more foreign direct investment particularly in the manufacturing sector. The government allowed companies to ignore labor laws instead of hiring workers on a regular basis. They hire laborers for a short duration at a low wage rate as well as to work overtime when there is more pressure to complete the work. Existing companies, including MNC subsidiaries, have learned to manage the constraints in the labor market.

Government has also allowed flexibility in the labour laws to attract foreign investmentGovernment has also allowed flexibility in the labour laws to attract foreign investment. The companies can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness.