Abstract:
The article below throws light on the labor market reform in Australia. It gives an account of the reforms, which may be adopted by the Australian government to address different areas of the labor market. Employment conditions as well as structure of the wages form a part of it. Maintaining the decorum pertaining to employer-employee; employee-employee relationship is also vital and may predict the output of any organization. It also envisages the main aims of the labor market reform in Australia.
Australia was subject to a lot of employment upheavals during the period ranging between 1970 to 1990s. During this period rate of unemployment went up like never before. However, owing to labor market reform in Australia during the second half of 1980 and the second half of 1990, matters related to the labor market started looking up. It is a well known fact that the existing situation of the labor market is to a great extent determined by the labor market policies adopted by the governments in Australia in the bygone years. It was anticipated in the year 2005 that further labor market reform in Australia would, to a large extent better the scenario in the coming years thereby increasing the standard of living of the common people.
Importance of labor market reform:
By embracing labor market reform in Australia, the rate of employment would become sound and sustainable. However, the type as well as the components of the labor market reform in Australia need to be ascertained.
Reform of the "workplace relations system":
The need to bring about labor market reform in Australia pertaining to workplace relations is important. The reason being that if a healthy working environment is maintained in the workplace, it increases the productivity of the job simultaneously improving the structure of the wages as well as conditions of employment in the country.
Institutional reform:
Labor market reform in Australia can address the following two areas of workplace relation reform.
The first area deals with institutional as well as legal model pertaining to the regulations and rules, which govern responsibilities of the employees as well as the employers in matters related to conditions of employment and wage structure.
Maintaining the quality of the place of work:
Such reforms ought to be introduced, which would make a sound and healthy relationship between employees as well as employers mandatory.
Investing in labor force productivity:
As precursor to the labor market reforms in the country, the Australian government feels that if investments are made in programs as well as projects, which increase the efficiency and productiveness of the employees, the same ought to be undertaken. It enhances the skills of the employees. It would also assist an employer in handling adverse situations in the workplace better.
Objectives of labor market reform in Australia:
The labor market reform in Australia ought to be on a long term basis, which would further strengthen the labor market. One of the main aims of the reforms should not only be to enhance the efficiency and skill of the existing workers but also to boost new job opportunities for freshers. By embracing reforms in the labor market, increase in the following have taken place:
Employment opportunities for newcomers
Freedom in the place of work
Standards of living
Participation
Mobility
Job security
Growth in national income
Businesses
Effectiveness of the job
Efficiency
Accuracy
Productivity
Skill
In other words, the reforms would enhance benefits economically as well as increase social dividends in the country.
