With the increasing economic growth in India, managing workers is going to be a big challenge for all the foreign companies. Trade union movement has a strong tradition in this country and labor unrest is a common affair here. That is why; I feel that Hyundai's effort to reach to a 3-year wage settlement with its workforce in India is a good example to follow for other companies. Hyundai is doing very well in the Indian market and it is increasing its car production capacity in India too. So, it is important that Hyundai can stay out of any kind of labor unrest in India. I am quoting from a report published in Business Standard:
"G S Ramesh, senior vice-president, human resource, Hyundai Motor India, told Business Standard that the wage increase was on an average of 12 per cent and slightly more with its welfare measures for the financial year.
The three-year wage settlement would benefit 1,700 workers effective from the current financial year, while the remaining supervisory and other staff of 2,300 people were given their standard yearly salary revision."
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IndianRaj...
"Raj" in Slovenian (and some other Slavic languages) means "Heaven" literaly. :)
Well, this comment isn't targeted at any particular point of the post, just felt like writing something on my first visit ;)
take care,
-vedic
Posted by: vedic.Ai | July 22, 2006 12:08 PM | Permalink to Comment