How would flexibility in labour laws would help companies?
Answers
Due to flexibility in labour,the companies are getting benefit.by taking the advantage of flexibility,the companies are not appointing workers permanently.
When the demand of product increases in the market,the companies appoint extra labour and when demand reduces, they remove labours from work.thus,companies reduce their cost of production and earn profit.
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.