What do you mean by flexibility in labour laws
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Labor market flexibility refers to firms' ability under a jurisdiction's laws and regulations to make decisions regarding employees's hiring, firing, hours and working conditions.
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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.
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