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Human resources department or the personnel department at any firm is perhaps one of the most important firms in the modern day and age because people have been identified as a resource which can become a core competency of a firm if it is developed and managed according to the needs of the firm…
Ever since the need for the department has become prominent, it has made great strides and has evolved completely, the functions that we see any human resources department performing today are very different from the functions that it performed 2 or 3 decades ago, this is ample evidence to judge the importance of the role that human resources departments now perform in any given company. Employment relations means the relationship that exists between the employer and the employees and the factors that affect this bond are some institutional factors which would be discussed in detail later on in the paper, these factors are basically the economic, political and the cultural factors and how they affect the relationship of the employer and the employee and the role of the human resources department in tackling the various issues that may arise due to the impact of these factors is looked into in detail. The employment relation also looks into the rights that the employees have over the employer and the rights that the employer have over the employee, it also defines what needs to be done in different situations when a breach has been made by either party.
Economic factors can also have an effect on the employment relation of the firm, for example in the micro economic context if the demand for the firms products goes down rapidly due to substitutes being now available at a cheaper market price then the firm would h ...
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