Employee Relations Initiatives and Quality of Work Life: A Study In Power Sector Units

Abstract

India liberalised its economic policies in 1991. Since then the economy has responded positively and India is now considered as one of the dynamic emerging nations. At present, the second generation reforms are in progress and the economy seems to be moving on the right track. Recently the World Bank forecasts that by 2020, India could become the fourth largest economy in the world. Owing to such development, a large number of foreign firms have become interested to make business in India. The liberalised policies and the increased level of competition by overseas firms have put pressure on HR functions of domestic companies. To survive and prosper, they have to prepare and develop their employees so as to compete with overseas organisations in skills, efficiency and effectiveness (Sparrow and Budhwar, 1997; Venkata Ratnam, 1996). In the present competitive business environment, Indian organisations are feeling compelled from within to reorient their employment relationships (Budhwar, 2000; Sodhi, 1999). After years of organisational restructuring and work re-engineering, management comes to recognise that a productive workforce is increasingly important to attain sustainable competitive advantage for business organisations on a global basis (Bohl et al., 1996).