Essay --

Scope and ways of participation: There are three sets of managerial decision, which have the direct impact on the employees of any industrial formation. They are social, people and economic decisions. Economic decision includes the financial aspects like, manufacturing, mechanization, termination etc. Personnel decisions mention to recruitment, selection, advertising, transmission, criticism handling & etc. Social decisions refer to working hour, prosperity measure, working rule and manner of individual, joining in social, personal, & economic. On school of thought is of the opinion that the employees at several levels. The first opinion could lead to the employees’ actual contribution in the decision making of safety, health, and hygiene and noise level. The employees must have a say in the choice on the issues mentioned above. But there is variance of opinion about the scope and the degree to which workers or the trade unions should on equality basis, sitting with the management as the equal partner, and t o make dual managerial decisions on all stuffs. In practice, the factors affecting the workers participation can be shown as: Participation at The Board Level: The board of directors is the head body in the management of a corporate institution. A representation of employees on the board would, it is supposed, escort in industrial democracy, ensure improved employer-employee relationship and guarantee better productivity. The workers participation at the board of directors sacks safe guard employees’ interest, assist as a control system, guide to management, guidance on matter of venture. The contribution of workers are highest management is not without problems. The board of any initiative is primarily alarmed with problems l... ...and impressive results when correctly applied. Empowered Teams: The empowerment happens in the period power goes to employees and they can practice a sense of ownership and control over their jobs. Empowered individuals recognize that their jobs have its place to them. Empowerment is eased by a combination of features like values, leadership actions, job configuration and rewards system. Financial Participation: Financial participation varies from other forms of employee involvement in that, it is less probable to involve employees in discussion or decision making processes. The general determination of financial participation is to improve the organizational performances through the workers assurance. There are various financial participation schemes like profit-related pay, profit sharing, workers assistance, pension fund participation and wage earner profits etc.