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Essay / Benefits of Social Partnership - 2346
INTRODUCTIONThe aim of this study is to highlight whether social partnership and social partnership agreement can benefit a country or region and to highlight the many possibilities as to why this domain may have failed in some regions such as Jamaica. and why it was so successful in Ireland. Social partnership can be defined as a tripartite or multi-party agreement involving employers, trade unions, public authorities (state and/or local/regional authorities) and/or others (e.g. voluntary organisations). sector). Social partnership generally concerns the areas of economic and social policy and can be based on a binding agreement or a declaration of intent. The Copenhagen Center for Partnership Studies (2002) shows that some social partnerships evolve as a product of local concerns, such as those focused on localized skills shortages or concerns about unemployment. More generally, new partnerships are those that government and non-governmental agencies intentionally implement for specific policy purposes. Social partnership is important because it recognizes that unions have a common interest in the success of a business, as this is how secure jobs are created. He also recognizes that the way forward is cooperation, not confrontation. Furthermore, it recognizes that employees can only develop their own agenda through an independent union. Awareness of the importance of social partnership in both developed and developing countries has proven to contribute immensely to the growth of the economy. Social partnership should be taken seriously when implemented in a country, as it opens the way to opportunities for improved health care, high levels of productivity, trade and increased wages and of the level of education in...... middle of paper. .....our capital and government have enabled Barbados to continue to at least withstand the adverse effects of the global recession. The Honorable Reginald Farley wrote an article on May 15, 2000 on the experience of social partnerships in Barbados. He said the economy of the time benefited from social partnership. The statistics in his article indicate that unemployment fell from 24.3% in 1999 to 9.8% at the end of that year. According to him, “productivity growth exceeded wage growth during the protocol period and facilitated economic growth.” The biggest challenge or disadvantage for Barbados when it comes to social partnership is that citizens may be reluctant to make sacrifices. They may have become so comfortable with their living situation at present. They will not neglect that these sacrifices will help overcome economic and social challenges.