Industrial relations: An approach to improve productivity and profitability referring to select units of Mumbai Industries Development Corporation

Growing productivity and profitability is a result of industrialisation. The success of the industry and economic development depends on harmonious industrial relations. No organization can operate entirely without human efforts. Objective of the study is to understand the industrial relations and to examine the different machinery for the settlement of industrial disputes if any and there by focusing on workers participation in the management.15 industrial undertakings in Thane district of Mumbai were covered for the study. Both primary and secondary sources of data were employed to collect the data from various units as a part of MIDC. Analytical and exhaustive questionnaire was prepared to know the importance of industrial relations at different units covered under the umbrella of MIDC. Classification and tabulation of data is made according to the need for the study. The analysis has been made based on the factual information collected from respondents through questionnaire, interviews and personal observations. Major finding was cordial and harmonious industrial relations leading to increase in productivity and profitability. Education, training and development of employees are necessary as a part of effective participation while making decisions.