Labor Economics and Singapore's Workforce

This assignment delves into the realm of labor economics as it pertains to Singapore's workforce. It examines concepts like efficiency wages, training programs, and their influence on worker productivity, job security, and overall economic growth. The analysis draws upon relevant theories and empirical evidence to shed light on the dynamic relationship between labor market factors and Singapore's development model.

Running Head: Labor Management Relations
Labor Management Relations

Labor Management Relations
Contents
Introduction.................................................................................................................................................1
4 key Players of LMR....................................................................................................................................1
Government............................................................................................................................................2
Employer.................................................................................................................................................2
Employees...............................................................................................................................................2
Trade Union.............................................................................................................................................3
Analysis of Competitive Advantage.............................................................................................................3
Conclusion...................................................................................................................................................5
References...................................................................................................................................................6

Labor Management Relations
Introduction
In this report the main discussion is on the labor management relations. It gives an outlook to a
relationship of the employees which help the organization to attain the goals and objectives of
the organization. In this industrial life, aggregate bargaining and exchanges unionism is taken
into consideration. It is very essential to maintain the industrial relations, so that company can
work in smooth way. In this report, the 4 players are considered that help to maintain the labor
management efficiently. The trade union of Singapore was established in 1951 and the
operations are also taken into consideration. In this the 4 player’s employer, employees,
government and trade union are given more focused. The labor management relations Act are
commonly concerned with the Taft Hartley. It consist of various purposes like, It assist to reduce
or minimize the disputes which are concerned with industry. The next purpose is to position the
employers in a position which is equal and which gives emphasis on the bargaining and labor
relation procedures. LMRA gives focus on the federal labor law which is concerned with the
attitude of the right employees that add the restrictions on the unions. In this the guarantee is
made by assuring the freedom of speech and conduct to employers and the individuals. The main

Labor Management Relations
aim of the policy is to give peaceful procedures that prevent the employer and the employees
from disrupting in the rights of the legitimate.
If we consider the labor management relations, then it is seen that it is connected to minimize the
disputes of the industries and also to provide the equal position to the employer which have labor
relations methods. The main problem that is arised in connection with labor then it is seen that it
is based on the competitive advantage. With the enhancement in the competition and the pressure
it is seen that the business goals and objectives is very essential part or the element for the
organization and if it is effectively supported by the workers or the employees, then it can be
beneficial for the company (Ehrenberg & Smith, 2016).
4 key Players of LMR
The main 4 key players in the labor management relations are: Employer, employee, government
and trade unions. It is very important to maintain the good relation, so that the workers can give
their best towards the work. The 4 key players are discussed below:
Government
Government is concerned with the laborer and with the monetary segments. The main aim of the
government is to see the issues that are concerned with the unions and the administration so that
the settlement can take place in proper way. It will be beneficial for the Singapore, and enhance
it level of productivity. Exchange union is concerned with making the advancement in the
working procedure of the workers. The working pattern get enhanced by making correction in
industrial relation act, wages act and also takes into consideration working environment. If
proper measures are taken into consideration by the nation, then it gives a positive effect on the
workplace and also enhance the connection between the business and. Also the increase is seen
in the investments which are based on the monetary fund (Jirjahn, 2016).
Employer
The Singapore national employer federation explains to the union to help the venture
management and industries so that business can conduct its operations and can increase the level
of productivity. It assists the employers to achieve the targets and to conduct the day to day
operations. The active plays are helped by the people or the members who are from the corporate
background to enable the partnership that exists in tripartite. The employees Of LMR focus to

Labor Management Relations
enhance the employability by taking assistance from the policies which help the employees to
work efficiently and effectively towards their work. The members from the corporate
background assist the employees to work in a given direction. To attract more investor the
employees are given wages according to that and also by this the investors can be attractive in
effective manner (Pang & Lim, 2015).
Employees
Employees are an important asset for the organization. Employees face many problems in
various different situations. They should have the knowledge to deal with the problems that are
prevailing, so that the work cannot be hindered and the goals and objectives can be attained in
effective manner. If the employees who are working in the organization are dependent on the
specialists then it will give direct focus on the organization (Christiano, Eichenbaum & Trabandt,
2016). The company tries to gives focus and also to enhance the labor incentives, so that the
workers can conduct its operation properly with full dedication. The employees who conduct
their activities in the remote areas and who work on a daily pay basis should be given focus, so
that their efficiency cannot be ignored. The company should also consider enhancing the
retirement age so that the jobs can be easily available to the specialists (Tan, 2016).
The company should give salary or the pay according to the skill or the qualification of the
worker. If the worker who possesses skill is not given a good salary then it cannot be justified.
The salary of the workers should be enhanced according to the skills and qualification of the
workers. It is very important to give focus on enhancing the relationship with the trade unions
and also with the employers (Den Haan, Ilzetzki, Ellison & McMahon, 2017). The assistance is
given to the trade union by the employees who give an extra advantage to the employees.
Training is also considered as an important aspect for the development of the employees. IF the
employees are given proper training, then they will be able to complete their activities on time
and with greater efficiency. Trade union is very beneficial for the company, if they are appointed
half of the concerned and problem of the employees are solved (Chua, Lim, Ter & Chew, 2014).
Trade Union
To manage the effective relations the trade union is considered as a great role to be given focus
on. The trade union objective is to give employment to the people who are needy for the job.
Nowadays the level of competition is also enhancing, it helps to the survive in the competition.

Labor Management Relations
When the support is given from the trade union, it is seen that the level of performance is
enhanced in effective manner. The status and working pattern of the employees is enhanced with
the change in the performance level. The main focus of the trade union is to provide harmony
between the workers and the employers. It is seen that if the performance level of the employees
is enhanced then the labor relations are also increased. Trade union takes into consideration those
problems that give focus on the industrialization and which will enhance the benefit of the
managers (Tremewan, 2016).
Analysis of Competitive Advantage
By focusing on Singapore, it is seen that industrial relations that are concerned by the
relationship of tripartite is between the labor movement, employers and the government. It is
very essential to maintain the level of competition and focuses on inducing more and more
investors so that the different situations can be considered and solve in proper process. For
example, if the problems arise which are concerned with the financial development .The
problems which are analyzed are for the long term and also it is linked with the managers and the
company (Weiss, 2014).
The Progressive wage model is concerned with productivity and it assists to enhance the wages
of employees by upgrading skills and also improves the level of productivity. This wage model is
for the workers who are engaged in the activities like cleaning, security which are the services
that are outsourced. The model helps to enhance the level of motivation which is implemented by
the national wages council that also gives main focus on the wage increments. NTUC helped by
attaining the changes of the workforce law and the industrial relation Act (Schmeck, 2013). The
business in Singapore changed their constructive reaction by covering large population which
started by taking into consideration directors, experts and officials. The LMR is an important
feature which enhances the advantages that are prevailing in the workplace. The employees take
many leaves and company also gives extra benefit and leaves to its employees who are working
in the organization. The employees are offered marriage leave, maternity leaves, child sick leave
and there are many variations that are taken place. For offering the advantages or the benefits to
the employees it is very essential to take permission from the government of the Singapore and
also by the benefits is offered by the trade union which is considered with Singapore. When the
company gives advantages and offers an environment which is suitable for the worker, then it is

Labor Management Relations
seen that the level of motivation of the employee is enhanced in effective manner. If the working
pattern of the employee is enhanced then the worker is more dedicated towards the work and
tries to attain the objectives and goals of the company (Leamer & Storper, 2014).
The four players of the LMR are stated which satisfy the obligations. LMR motivates the
employees to work in efficient way and also to conduct the operations in Singapore in proper
way. LMR of the Singapore has also helped to enhance the level of productivity and also to build
the workforce of the company. If there is an extra ordinary work performed by the workers then
it can be seen that the employee can easily attain its goals. There should be fix wage system
which should be adopted so that the workers can conduct their activities properly. If the wages
and training is given to employees then it will help the company to retain more and more
employees in the organization. National wage council policies and regulations are based and
focused for negotiation and also for the settlements of the conflicts. It helps to attain the
domestic and productivity growth (Lavoie & Stockhammer, 2013). The main focus and
consideration is given on the international competitiveness and the employment situations that
are prevailing in the market. The wage that is offered to the workers should be according to the
qualities and performance which they are performing in the company. There are various policies
and procedures that are focused on resolving the conflicts. The wage system should be more
flexible so that the employee can consider the changes which are prevailing in the market in
proper and with full dedication. The minimum wage system gives focus on the enhancing the
flexibility and also the level of competition and gives enhancement in securing the job (Waring
& Lewer, 2013).
The wage structure gives main emphasis on establishing the proper understanding between the
employer and the employees who are working in the organization. The employers consider the
proper wage system that consider the flexibility and also helps to increase the value for the of the
workers. If the employees have the feeling of competition, then they can give their best towards
the work and also their position in the company can be increased. It is the responsibility of the
top management to give motivation to employees who are working in the organization, so that
there can be enhancement in the performance level of the employees (Metters &Metters, 2017).

Labor Management Relations
Conclusion
If we take into consideration the analyses of the report, it is seen that there are various threats
that are faced by the Singapore tripatism. If proper training is given the working pattern and
skills can be enhanced in effective way. The conflicts are solved by the employer, government
and the trade unions. The report gives emphasis on creating and marinating the labor relations of
the organization. It is vital to have a viable work connection administration. The representatives
who are working in Singapore improve the level of competition for the organization. The
administration and exchange union of Singapore gave many favorable circumstances to the
representative like security of the specialists, wages of the laborer. The opening for work for the
representatives is improved in legitimate way. In the event that appropriate preparing is given to
the representatives, at that point the profitability can be expanded productively and furthermore
the workers feel devoted and inspired towards the work. The workers help the organization to
accomplish the goal of the organization.
References
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Chua, S. C., Lim, Y. W., Ter, T. T., & Chew, S. B. (2014). Efficiency wage theory: Evidence for
Singapore manufacturing sector. The Singapore Economic Review, 59(03), 1450021.
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wages and economic recoveries. LSE Business Review.
Ehrenberg, R. G., & Smith, R. S. (2016). Modern labor economics: Theory and public policy.
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