LABOUR LAW REFORMS AND THEIR INFLUENCE ON ORGANIZATIONAL PERFORMANCE WITH RESPECTIVE TO PHARMACEUTICALS

This paper presents strong empirical data that labour law reforms have a multidimensional and strong impact on organizational performance. The study, by analysing four different constructs associated with reforms, including labour law awareness, compliance practices, employee productivity and workplace relations, through the prism of a quantitative survey of 200 people living in Hyderabad metropolitan area, shows that each of the four constructs plays an individual and collective role in ensuring high organizational performance. The results are a challenge to the dominant script that labour regulation is more of an economic burden, but rather that it is a strategic facilitator of organizational performance. By developing legal literacy, incorporating compliance into the organizational DNA, creating cooperative relationships in the workplace, and using regulatory frameworks to increase the motivation of workers, organizations put themselves in a position to realize a sustained competitive advantage. The collective importance of the dimensions is confirmed by the high explanatory power of the regression model (R 2 = 0.618). The theoretical value of this paper is that it develops the resource-based perspective and the institutional economics perspective to the particular situation of the Indian labour law reforms. The practical input is in offering HR professionals, organizational leaders and policymakers with practical insights to capitalize on the transformative potential of the consolidated Labour Codes in India. Further studies must build on this framework to longitudinal designs in order to understand the changing effect of labour law reforms on performance with time, especially as the four Labour Codes undergo the various stages of their implementation. The literature would also be enriched by cross-regional comparisons of the implementation velocity of the Indian states. Also, qualitative research on lived experiences of workers and managers in the reform environment would be a valuable addition to the quantitative findings of the current study.

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