Labor regulations can help to correct imperfections in labor markets resulting from inadequate information, uneven bargaining power, limited ability to enforce long-term commitments, or insufficient insurance mechanisms against employment related risks. But in order to develop equitable labor laws, the key is to balance the different interests on labor regulations to promote more, better, and inclusive jobs.
While no one size fits all prescription exists, there are general principles policy makers can adopt. This new event examines and lays out guidelines for the design and implementation of basic labor regulations in four areas: Employment contracts, minimum wages, dismissal procedures, and severance pay and unemployment benefits.
Featuring representatives from key stakeholder groups, the panel will discuss the challenges of striking a balance between these essential elements, as well as the key role social dialogue and consensus building plays in bringing all the tripartite to the table in making effective labor laws.