Published by MBA Skool Team, Last Updated: December 04, 2016
What is Labor Standards?
Labor Standards refers to the standard conventions with respect to the workers, in matters of basic worker rights, working conditions, wages to be paid & also related to job security. Basically it is done in order to improve labor employment on a global scale. Given the laying down of the standards, a minimum level of protection is there from inhumane practices like bullying, aggression, gender equality, etc. More than laying down of the labor standards, it is the implementation which is important.
Primary international body working towards the development of the labor standards & enforcing them is the International Labor Organization. It was established in 1919, to advocate international standards, with respect to the injustice, hardship & privation. It is also working towards ensuring peace, and removing the negative impacts associated with the labor market.
Advantages of Labor standards
1. It lays down rules & procedures against workplace discrimination, gender discrimination, & ensuring the well-being of the employees.
2. It also regulates mechanisms relating to unsafe labor practices that may be prevalent.
3. The ILO has the prime responsibility of implementing them in practice, and ensuring that they are followed, to keep up with the protection of the employees
1. Since it is not only about laying down of the labor standards, but also about implementation of the same, there had been issues related to implementation patterns.
2. Issues relating to labor costs have often cropped up, with relation to the economic consequences.
3. The system of maintaining parity among countries on the basis of benchmarking, rather than taking into account the economic & social condition of the country
Thus even though the labor standards have had a positive influence, it is the manner in which the implementation is done, which contributes to the impact generated by it.
Hence, this concludes the definition of Labor Standards along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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