flexibility of labour law globalisation.explain
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Explain flexibility of labour law globalisation.
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Labor market flexibility refers to how quickly a firm responds to changing conditions in the market by making modifications to its workforce.
A flexible labor market allows employers to make changes because of supply and demand issues, the economic cycle, and other market conditions.
Effect on workers :
Flexibility in labour laws has badly affected the workers. MNCs employ them on a temporary basis in order to cut costs. They do not pay throughout the year.During peak seasons, workers are made to work for long hours and in night shifts. They are also not given fair wages. This forces them to lead a very hard and highly insecured life.
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Labor market flexibility refers to how quickly a firm responds to changing conditions in the market by making modifications to its workforce.
A flexible labor market allows employers to make changes because of supply and demand issues, the economic cycle, and other market conditions.
Effect on workers :
Flexibility in labour laws has badly affected the workers. MNCs employ them on a temporary basis in order to cut costs. They do not pay throughout the year.During peak seasons, workers are made to work for long hours and in night shifts. They are also not given fair wages. This forces them to lead a very hard and highly insecured life.
Looking at flexibility from the firm's point of view, a flexible labour market means that firms will have greater freedom to hire workers when demand increases, and also to fire them when demand decreases. This means that excessive legislation to limit the ability of firms to hire and fire will reduce flexibility.