What is meant by labour flexibility? What are its difderent forms? In 100 words
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The degree of labour market flexibility is the speed with which labour markets adapt to fluctuations and changes in society, the economy or production. The most common definition of labour market flexibility has been the neo-liberal definition.
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A flexible labor market is one where firms are under fewer regulations regarding the labor force and can therefore set wages, fire employees at will and change their work hours.
Different forms :-
.External numerical flexibility.
.Internal numerical flexibility.
.Functional flexibility.
.Financial or wage flexibility.
Hope this will help you..
or
A flexible labor market is one where firms are under fewer regulations regarding the labor force and can therefore set wages, fire employees at will and change their work hours.
Different forms :-
.External numerical flexibility.
.Internal numerical flexibility.
.Functional flexibility.
.Financial or wage flexibility.
Hope this will help you..
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